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FOR IMMEDIATE RELEASE
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Contact:
Ron Marston
President and
CEO
HCCA International
615-313-4208
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Ted
Feldman
Chief Operating
Officer
HCCA International
615-313-4211
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HCCA Holdings, Inc., parent of
HCCA International
receives $10,775,000 in financing
Nashville, TN--September 23, 2002--HCCA
Holdings, Inc., parent of HCCA International, today
announced completion of a $10,775,000 round of financing.
The financing was led by Massey Burch Capital Corp.
of Nashville and Chrysalis Ventures of Louisville.
Co-investments were made by Jefferson Capital of Richmond
and Clayton Associates of Nashville. Other participants
included SunTrust Banks, 2nd Generation Med-Services
and certain individuals.
HCCA is an internationally recognized leader in the
healthcare staffing business. Since the Company's
inception, HCCA has recruited over 30,000 medical,
nursing and professional staff from the United States,
Europe, Canada, the Philippines, Australia/New Zealand,
the Middle East and India for placement in facilities
of its international clients. The proceeds will allow
HCCA to staff hospitals in the United States with
highly trained registered nurses.
"This financing, by outstanding investors and partners,
provides us the opportunity to address a growing need
in hospitals by increasing the size of the nurse workforce
in the U.S.," said Ronald C. Marston, President and
CEO of HCCA. "This is what we have done for thirty
years, around the world, and we are excited that we
can now provide these outstanding services to the
U.S. market."
"The American Hospital Association has estimated a
current shortfall of 126,000 registered nurses across
U.S. hospitals, and industry sources project the shortfall
to increase significantly over the next several years.
We believe access to the pool of qualified internationally
trained healthcare professionals will be an integral
part of the solution to address the U.S. nursing shortage,"
said Mark Allen, an equity analyst covering the healthcare
staffing sector for SunTrust Robinson Humphrey. An
affiliate of SunTrust Robinson Humphrey is an investor
in this company.
Don McLemore, a partner at Massey Burch Capital Corp.
said, "The management team leading the charge for
HCCA has positioned itself well in regard to reputation
in the overseas staffing markets. Our firm is excited
to support a team dedicated to recruiting top-notch
professionals for the healthcare industry."
About HCCA International
HCCA International is a recognized leader in global
healthcare recruitment and staffing services. The
Company is a HCA, Inc. "legacy" company, tracing its
origins to the in-house international management and
staffing arm of the hospital industry leader. HCCA
operates through offices and staff in the United States,
Canada, United Kingdom, India and the Philippines.
Senior management includes Ron Marston and Ted Feldman.
About the Investors
Massey Burch Capital Corp. is a venture capital
firm based in Nashville, Tennessee. The firm focuses
on investing in early stage companies within the industries
of information technology, communications systems,
health care and other service industries. Massey Burch
and its predecessors have a 30-year history of venture
investing.
Chrysalis Ventures is Kentucky's largest venture
capital firm and a leading source of equity capital
for young growth companies in the Southeast and Midwest.
Founded in 1993, the firm has over $200 million under
management and has made investments in over 35 companies.
Chrysalis Ventures is based in Louisville, Kentucky.
Jefferson Capital Partners, Ltd. is a private
equity firm seeking to invest in growth financings,
management buyouts, and recapitalizations of well
managed, rapidly growing companies, primarily in the
consumer, business services, education, health care,
and selected information technology industries. The
firm is located in Richmond, Virginia.
Clayton Associates was formed in 1996. The
firm provides early stage and growth capital to companies
in the Southeastern United States. Since its inception,
the firm has invested directly, advised on or served
as General Partner to over 40 private equity deals.
Clayton Associates is based in Nashville, Tennessee.
SunTrust Equity Partners ("STEP"), the merchant
banking arm of SunTrust Banks, Inc., invests equity
and subordinated debt in growing middle market companies.
Since 1995, STEP has invested over $400 million in
over 80 companies and limited partnerships involved
in a variety of industries.
2nd Generation Capital was formed in 1994 and
specializes in principal investments, placements,
mergers and acquisitions, advisory services and valuations.
The firm has locations in Louisville and Lexington,
Kentucky and Nashville, Tennessee.
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