Oceans Healthcare has announced the acquisition of all outstanding shares of Nashville-based Haven Behavioral Healthcare.

This development broadens Oceans Healthcare's reach to encompass an additional five states, namely Arizona, Ohio, Idaho, New Mexico, and Pennsylvania, through the incorporation of seven behavioural health hospitals and a range of outpatient services.

Oceans Healthcare CEO Stuart Archer said: “Our organisations share an almost 40-year legacy of high-quality care and commitment to our patients. Together, we will be able to accomplish much more than we could independently.

“Oceans has consistently sought opportunities that would expand our ability to provide access to care for at-risk populations in underserved communities. Haven has had a similar mission, and we are honored to welcome them to our Oceans family.”  

Over the past one and a half years, Oceans Healthcare has been actively expanding in nine markets, and announcing new facilities or service expansions.

The company focuses on intensive outpatient programmes and services that cater to a wide age range, encompassing young people and the elderly.

Since 2014, Oceans Healthcare has expanded via collaborations with academic medical centres and the development of new facilities.

Following the takeover of Haven, Oceans Healthcare now manages 48 sites throughout nine states and has approximately 4,000 staff members on its payroll.

Haven Behavioral Healthcare CEO Kelly Gill said: “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 acquisition is designed to improve the provision of healthcare in the areas covered by Haven, support local groups in advancing the delivery of treatment, and maintain the supply of essential healthcare services to some of the most at-risk members of society.

Houlihan Lokey served as the sole financial consultant to Haven throughout the deal.