NGP Capital Invests $17.5M in PE-Backed Optional Care
February 27, 2013
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NGP Capital Resources, a closed-end, non-diversified management investment company, has invested $17.5 million in OCI Holdings (dba Optional Care), a Texas healthcare company. The deal included a $15 million subordinated note and a $2.5 million direct equity co-investment in the company. OCI is a home health provider of physical, occupational and speech therapy services to pediatric patients in the state. Proceeds from the investment will be used to refinance the company and to finance OCI's strategic acquisition of a provider of similar services. Ancor Capital Partners acquired the company in 2008 as an add-on for its portfolio company Care Quest Home Health, a skilled nursing and therapy services provider based in Dallas.
