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January 29, 2013
16:48 EDTMCGCMCG Capital provides $23.7M in financing to Oceans Healthcare
MCG Capital Corporation announced the closing of a $23.7 million investment in Oceans Acquisition . MCG’s investment consists of a senior secured unitranche credit facility and revolving line of credit. Oceans Healthcare is a Louisiana healthcare company that specializes in the development and management of behavioral health services. MCG’s investment is made in conjunction with the acquisition of Oceans Healthcare by General Catalyst Partners, a venture capital and growth equity firm with $2.2 billion under management. General Catalyst invests in both early and growth stage companies and partners with exceptional entrepreneurs who are building innovative companies and transforming industries.
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April 21, 2014
08:14 EDTMCGCMCG Capital sees Q1 EPS (29c)-(27c), may not compare to consensus 7c
Sees Q1 net operating income per share 5c-6c. Sees Q1 net operating income $4.1M-$4.3M. The company expects to record between $23M-$24M of unrealized depreciation on its loan and equity portfolio, principally from two investments. Based on operational, financial and business challenges facing Education Management, Inc., the company expects to mark down its investment by approximately $15.2 million. Furthermore, the company reduced its valuation multiple for RadioPharmacy Investors and expects to mark down its investment by approximately $6.3M based on volume, pricing and supply-cost challenges facing the RadioPharmacy's core business. The investment and valuation committee of the board reviewed and made a determination with respect to the recommended fair value of each of the company's portfolio investments.
08:10 EDTMCGCMCG Capital names Keith Kennedy CEO
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