Behavioral health services provider Oceans Healthcare has launched a new capital partnership with Webster Equity Partners to accelerate its growth even further.

Headquartered in Plano, Texas, the company operates 33 locations in Texas, Louisiana and Mississippi, which includes 23 inpatient hospital campuses and 20 intensive outpatient programs. Founded in 2004, Oceans initially targeted services to the geriatric population and has since expanded its reach to serve adult and adolescent patients in underserved markets.

“The mental health impact of the pandemic has pushed already high demand for behavioral health services to crisis levels,” Oceans Healthcare CEO Stuart Archer said in a press release issued by the company. “This transaction allows us to expand our services and be a solution for underserved communities with decreasing or inadequate access to care.”

Oceans has been backed for more than a decade by General Catalyst Partners, which is exiting the investment as part of the deal. The company’s growth has been through a combination of acquisitions and the development of new facilities, as well as joint ventures with providers like Ochsner LSU Health Shreveport.

“It’s bittersweet as we leave them along their journey, but we know their work providing behavioral health care to in-need populations will have an immeasurable impact on communities and individuals for decades more to come,” David Orfao, a partner with General Catalyst, said in the press release.

Webster has investments in providers across the health care spectrum and has a history in behavioral health. The investment firm’s portfolio includes providers BayMark Health Services and Discovery Behavioral Health.

Houlihan Lokey was the exclusive financial advisor to Oceans in the transaction, while law firm Baker Donelson served as the provider’s legal advisor.

Financial details of the new partnership were not disclosed.