American Capital Invests $15 Million in Leading Provider Of Respiratory and Diabetic Supplies
28 October 2003 - 7:15AM
PR Newswire (US)
American Capital Invests $15 Million in Leading Provider Of
Respiratory and Diabetic Supplies BETHESDA, Md., Oct. 27
/PRNewswire-FirstCall/ -- American Capital Strategies Ltd.
announced today it has invested $15 million in MP TotalCare Inc., a
leading national provider of respiratory medications and diabetic
supplies to patients across the United States. American Capital's
investment takes the form of senior debt and supports MP
TotalCare's acquisition of Medical Holdings Inc., a leading
national supplier of direct to consumer urological products.
GMAC-RFC Health Capital is also providing senior term loans as well
as a revolving credit facility. MP TotalCare is a portfolio company
of Charterhouse Group. "We are pleased to be working with
Charterhouse Group for the first time, supporting their platform
company MP TotalCare in its acquisition of Medical Holdings," said
American Capital COO Ira Wagner. "We share Charterhouse's view that
the healthcare services sector will continue to provide attractive
investment opportunities." American Capital has invested more than
$800 million in the past twelve months and more than $650 million
this year. For more information about American Capital's portfolio,
go to
http://www.americancapital.com/our_portfolio/our_portfolio.cfm.
"The combined companies will hold leading positions in the
diabetes, urological and respiratory medication supply markets in
the U.S. MP TotalCare provides a number of valuable services
including home delivery of products, insurance reimbursement,
patient education and prescription compliance monitoring," said
American Capital Principal Brian Graff. "In addition, American
Capital is backing a strong senior management team with the
specialized experience necessary to grow the company." Founded in
1990 and headquartered in Tampa, FL, MP TotalCare's products are
primarily used in the treatment of diabetes and chronic obstructive
pulmonary disease. The company delivers products through the mail
and provides customer-focused services to over 100,000 patients. MP
TotalCare also manages pharmacies for third parties. Medical
Holdings serves over 9,000 customers, supplying urological and
other medical products to patients across the United States.
"American Capital understands long-term value creation. They worked
quickly to understand our investment thesis and strategy, enabling
us to move forward without delay," said Charterhouse Partner Jay
Gates. For more information about MP TotalCare's innovative
delivery of health care products, go to
http://www.americancapital.com/news/press_releases/pr/pr20031027a.html.
As of September 30, 2003, American Capital shareholders have
enjoyed a total return of 183% since the Company's IPO -- an
annualized return of 19%, assuming reinvestment of dividends.
American Capital has paid or declared a total of $12.37 per share
in dividends since its August 1997 IPO at $15 per share. American
Capital is a publicly traded buyout and mezzanine fund with capital
resources of approximately $2 billion. American Capital is an
equity partner in management and employee buyouts; invests in
private equity sponsored buyouts, and provides capital directly to
private and small public companies. American Capital provides
senior debt, mezzanine debt and equity to fund growth, acquisitions
and recapitalizations. Companies interested in learning more about
American Capital's flexible financing should contact Mark Opel,
Principal, at (800) 248-9340, or visit our website at
http://www.americancapital.com/. Charterhouse Group is a private
equity firm with three decades of experience in building leading
middle-market companies. Established in 1973, Charterhouse
currently manages in excess of $1 billion in equity through several
limited partnerships. Since its inception, Charterhouse has
completed investments in over 80 platform companies with a focus in
the business services, healthcare services, telecommunications,
consumer products and industrial sectors. To learn more about
Charterhouse, please visit their website at
http://www.charterhousegroup.com/. Charterhouse portfolio companies
include MP TotalCare, Inc., Cross Country Staffing Inc., a leading
provider of healthcare staffing services, and AAT Communications
Corp., the largest private provider of tower sites to the wireless
communications industry. This press release contains
forward-looking statements. The statements regarding expected
results of American Capital Strategies are subject to various
factors and uncertainties, including the uncertainties associated
with the timing of transaction closings, changes in interest rates,
availability of transactions, changes in regional or national
economic conditions, or changes in the conditions of the industries
in which American Capital has made investments. DATASOURCE:
American Capital Strategies Ltd. CONTACT: Brian Graff, Principal,
+1-212-213-2009, or Brian Maney, Director, Corporate
Communications, +1-301-951-6122, both of American Capital
Strategies Ltd. Web site: http://www.americancapital.com/
http://www.charterhousegroup.com/
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