Managed Health Care Associates, Inc. (“MHA”) was the largest provider of contract purchasing services to long-term care pharmacies. MHA offered a variety of services including contract administration, marketing and continuing education in addition to providing traditional group purchasing organization services.

MHA was one of the largest privately held GPOs in the United States and maintained long-standing relationships with virtually every major pharmaceutical manufacturer and wholesaler. MHA contracted agreements with more than 150 pharmaceutical supply partners. MHA was created in 1989 and had grown to be the market leader in the LTC space.

In order to provide MHA with the additional flexibility and capital to make add-on acquisitions, York Street provided a $45.0 million senior subordinated note facility, $22.1 million of which was drawn at close to complete the initial acquisition, with the remaining commitment available for subsequent acquisitions but never utilized. Additionally, York Street committed $3.0 million of preferred and common equity, $1.3 million of which was invested at close.

York Street’s subordinated note investment was repaid in a February 2006 recapitalization and its equity investment realized in August 2007 when Diamond Castle Holdings purchased MHA from GTCR.



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