Behavioral health provider Oceans Healthcare has acquired Haven Behavioral Healthcare, adding seven new locations to its roster.
Plano, Texas-backed Oceans announced on Thursday that it acquired all outstanding shares of Haven Behavioral Healthcare, bringing the provider into five new states: Arizona, Idaho, Ohio, New Mexico and Pennsylvania.
“Oceans has consistently sought opportunities that would expand our ability to provide access to care for at-risk populations in underserved communities,” Stuart Archer, CEO of Oceans Healthcare, said in a statement. “Haven has had a similar mission, and we are honored to welcome them to our Oceans family.”
Oceans operates 48 facilities across nine states, offering inpatient and outpatient mental health care, intensive outpatient and partial hospitalization programs (IOP/PHP), a specialized military program and substance use disorder (SUD) treatment. The provider is backed by private equity firm Webster Equity Partners. Waltham, Massachusetts-based Webster’s portfolio includes Baymark Health Services and Discovery Behavioral Health.
Oceans was formerly backed by General Catalyst Partners, which exited its investment as part of Oceans’ deal with Webster.
Nashville, Tennessee-based Haven offers acute inpatient and outpatient psychiatric care, PHP/IOP, electroconvulsive therapy (ECT) and other behavioral health services for adolescents, adults and geriatric patients. Founded in 2006, Haven operates seven acute inpatient psychiatric hospitals and one dedicated outpatient facility.
“Our health systems have always shared similarities in services, markets, populations served and – most importantly – in mission,” Kelly Gill, CEO of Haven Behavioral Healthcare, said in a statement. “From our earliest conversations, it was clear that bringing our organizations together would result in something greater than the sum of its parts. We are proud to move forward with this opportunity and to ensure greater access to quality mental health care, greater opportunity for recovery and greater hope.”
The Haven acquisition brings Oceans’ employee count to approximately 4,000. Oceans plans to expand access to care in its new markets and enhance care delivery through the deal.
The acquisition follows a decade of expansion for Oceans. Over the last 18 years, the provider has focused specifically on growth in the intensive outpatient realm. While it started in the senior behavioral space, it now provides services for patients from their adolescence through their older adult years
In November, Oceans opened a new behavioral health hospital in Jackson, Mississippi. In June, the company opened an inpatient facility in Norman, Oklahoma through a joint venture.
Several other prominent behavioral health acquisitions closed in recent weeks. In December, autism therapy provider Proven Behavior Solutions acquired Prism Autism Education & Consultation and Goldman Sachs Alternatives acquired the Center for Social Dynamics.
In November, Kelly (Nasdaq: KELYA, KELYB) acquired childhood therapeutics company Children’s Therapy Center (CTC), Helping Hands Family acquired Mission Autism Clinics and Paramount Health Management acquired Life Launch Centers.