Nov 12th, 2018
PLANO, Texas – (Nov. 12, 2018) – Oceans Healthcare today announced it has signed an asset purchase agreement to acquire the Biloxi, Mississippi-based behavioral health operations of Merit Health Biloxi.
The acquisition includes the 45-bed Gulf Oaks behavioral health hospital, an outpatient clinic and a therapeutic day school that are presently known as Merit Health Gulf Oaks, but it does not include the Merit Health Biloxi acute care hospital. The transaction is expected to close by the end of 2018, subject to certain customary regulatory approvals and closing conditions.
The transaction, which represents Oceans’ first expansion outside of Texas and Louisiana, caps a year of growth for the behavioral health provider. In 2018, the company expanded programming at nearly half of its 17 hospitals.
“At Oceans, we are deeply committed to improving access to much-needed behavioral health treatment,” said Stuart Archer, Oceans Healthcare CEO. “Bringing Merit Health Gulf Oaks into our family of providers will allow us to extend our tradition of high-quality, compassionate care to the Biloxi community. We look forward to building strong relationships with our new colleagues as well as the patients, families and communities they serve.”
Merit Health Gulf Oaks provides inpatient and outpatient behavioral health treatment options for children, adolescents, adults and seniors. Licensed medical and mental health professionals guide each patient and their family through individually designed treatment programs that include group, individual and family therapy.
Mississippi ranks 48th nationwide for mental healthcare, meaning the state has a high prevalence of mental illness and scarce access to care, according to the 2019 Mental Health America report.
ABOUT OCEANS HEALTHCARE
Oceans Healthcare is a behavioral health provider focused on healing and long-term recovery. Founded in 2004, Oceans provides inpatient and outpatient treatment with a special focus on the unique physical and emotional needs of older adults and seniors. The company has 22 locations in Texas and Louisiana, and was recently named to the Inc. 5000 list of fastest-growing private companies in America for the third straight year. For more information, visit www.oceanshealthcare.com.
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5360 Legacy Drive
Bldg. 2, Suite 101
Plano, TX 75024
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