American Capital Invests in Recapitalization of Medical Billing and Collection Firm

American Capital Strategies Ltd. announced today it has invested in the recapitalization of Marina Medical Billing Service Inc., a leading provider of revenue cycle management services for hospital emergency department physician groups. American Capital’s investment takes the form of a senior term loan, senior and junior subordinated debt and convertible preferred and common equity. American Capital is also providing a revolving credit facility. Led by Marsha Besley, Founder and President, and Michael Connellan, CEO, Marina’s senior management team will continue to be key shareholders with convertible preferred and common equity positions.

“We are delighted to be making this investment in Marina Medical Billing Service, a highly respected provider of revenue cycle management services to hospital emergency department physician groups,” said American Capital Regional Managing Director Brian Graff. “We are also pleased to be partnering with a distinguished management team that is committed to the long term future with Marina and has established a scaleable business model, driving the Company’s steady growth and geographic expansion.”

American Capital has invested $5 billion in the last twelve months, approximately $3.5 billion year to date and $1 billion quarter to date. These amounts do not include American Capital’s unfunded equity commitment and debt funded to its affiliate European Capital.