American Capital Strategies (NASDAQ:ACAS)
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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/