PE-Backed EyeSouth Expands into Tennessee Through Affiliation With Two Private Practices

By Staff
Thursday, May 23, 2019 12:24 AM ATLANTA—EyeSouth Partners, which is backed by the private equity firm Shore Capital Partners, recently announced its expansion into Tennessee with an affiliation with Cumberland Eye Care and Plateau ASC, located in Crossville, and Cookeville Eye Specialists and Perimeter ASC of Cookeville. The affiliations will establish EyeSouth’s initial presence in Tennessee, “which will be a key growth state for the company going forward,” according to the announcement. Each practice and surgery center will continue to operate under its brand, with no changes to its staff, physicians or locations, the announcement noted.

Total ECP Acquires Bethesda Vision Care, Maryland-Based Practice of Michael Berenhaus, OD

By Staff
Wednesday, May 22, 2019 12:21 AM BLOOMINGTON, Ill.—Total Eye Care Partners (Total ECP) said Tuesday that it has acquired Bethesda Vision Care from Dr. Michael Berenhaus, a member and former president of the Maryland Optometric Association. Total ECP, which is backed by Toronto-based private equity fund manager Imperial Capital Group, was founded in 2017. The terms of its most recent transaction were not disclosed. Bethesda Vision Care is the fifth practice in the Washington, D.C., metropolitan area to partner with Total ECP.

SouthEast Eye Specialists Announces Addition of Tennessee’s Complete Eye Care

By Staff
Friday, April 26, 2019 12:24 AM NASHVILLE, Tenn.—SouthEast Eye Specialists, a leading provider of medical and surgical eyecare, announced earlier this week that Complete Eye Care, a premier eyecare practice with locations in Soddy-Daisy and Dayton, Tenn., will join the SouthEast Eye Specialists management organization. Private equity investment firm Flexpoint Ford has been an investor in SouthEast Eye since 2017.“We’re committed and passionate about providing patients in Tennessee with the highest quality of care and adding leading practitioners like Dr. J.D. Bonner and Dr. Will Whitmire to our expanding medical staff is further proof of our commitment,” SouthEast Eye chief clinical officer Dr. Daryl Mann said in the announcement.

Hardy Capital Acquires LD Vision Group, Owner of Three Online Contact Lens Sites

By Staff
Thursday, April 25, 2019 12:27 AM VANCOUVER, British Columbia—Hardy Capital, a Canadian investment firm with experience in the online eyewear market via Roger Hardy, founder of the former Coastal.com business, said Wednesday that it has completed the acquisition of LD Vision Group. LD Vision owns three online contact lens sites, OptiContacts.com, LensDiscounters.com and ContactsExpress.ca. The terms of the deal were not disclosed, but Hardy Capital’s Roger Hardy told VMAIL that LD Vision is “quite a material business.” The company was founded in 2002 and was one of the first discount online contact lens sellers, and reached Canadian $50 million in sales last year, the announcement noted.

Sale of Shopko’s Optical Business Still Pending as Bankruptcy Court Awaits More Information

By Staff
Friday, April 19, 2019 12:24 AM GREEN BAY, Wis.—A bankruptcy court hearing to approve the $8.5 million sale of Shopko’s optical business wrapped up Thursday morning without a ruling by the judge in the Nebraska court hearing the matter, according to the court clerk’s office. The judge has asked the parties involved in the sale—Shopko and sole bidder Monarch Alternative Capital—to submit more information related to the terms of the sale, the clerk’s office told VMAIL. The hearing could resume as early as Monday, April 22. The hearing for Thursday had been scheduled as the venue for reviewing and approving Monarch’s $8.5 million offer under the terms and schedule Shopko had set out in a court filing detailing the terms of a planned auction sale.

Eye Health America Makes Acquisition of Carolinas Centers for Sight

By Staff
Friday, April 12, 2019 12:27 AM ATLANTA—Eye Health America (EHA), a leader in eyecare practice management, announced Thursday that it has acquired Carolinas Centers for Sight, the company’s second acquisition of 2019. Based in Florence, S.C., Carolinas Centers for Sight is a highly regarded ophthalmology practice that serves residents in both North and South Carolina, the announcement noted. The practice and its physicians have provided medical and surgical ophthalmology services for over 30 years.

EyeCare Partners Continues Growth with Bennett Optometry Partnership and Marks Entry into Michigan

By Staff
Wednesday, March 20, 2019 12:24 AM ST. LOUIS—EyeCare Partners LLC (ECP) said Tuesday it has expanded into its 11th state by partnering with Bennett Optometry, a leading two-location optometric practice in Ann Arbor, Mich., led by Dr. Steven Bennett. Bennett Optometry was founded in 1949 when the father of Dr. Steven Bennett, Dr. Herman Bennett, opened his first office in downtown Ann Arbor. In 2008, the practice transitioned from father to son. Dr. Steven Bennett has since led the practice through a period of consistent growth, including its recent expansion into a large second location in North Ann Arbor. The five-doctor practice is a full-scope medical optometric practice treating and managing a variety of ocular diseases and visual impairments.

Investment Firm KKR Forms Falcon Vision to Advance Innovation in Ophthalmology

By Staff
Wednesday, February 27, 2019 12:18 AM MENLO PARK, Calif.—The investment firm KKR announced Tuesday that it has formed a new platform, Falcon Vision, to source, evaluate and provide operational and financial capabilities to a diversified group of emerging ophthalmic medical device and biopharmaceutical companies. Falcon Vision will collaborate with the team at Flying L Partners, which brings together business and clinical leaders with decades of experience in building, leading, and funding high-impact ophthalmic technologies, according to the announcement. Bill Link, a successful entrepreneur and investor with more than 40 years of experience in the ophthalmic sector, will lead the new Falcon Vision platform.

‘Add-on Acquisition’ Deals in 2018 Were Key to PE Growth in Ophthalmology Sector, Report Finds

By Staff
Friday, February 22, 2019 12:27 AM BOSTON—Consolidation activity within the ophthalmology sector remained very active through the fourth quarter of 2018, a year in which there were at least 10 transactions publicly disclosed in every quarter, according to a recent report and market analysis by Provident Healthcare Partners. Provident Healthcare Partners, based here, is one of the leading firms in the health care investment banking sector. According to the firm’s analysis of transactions in the ophthalmology sector, 2017 was characterized by the formation of “newly established platforms” backed by private equity financing across the ophthalmology sector.

CEI Vision Partners Adds Virginia Eye Consultants as Fifth Partner

By Staff
Friday, February 8, 2019 12:30 AM CINCINNATI—CEI Vision Partners (CVP), a portfolio company of Revelstoke Capital Partners LLC , a Denver-based private equity firm, has completed a partnership with Virginia Eye Consultants (VEC) , a premier multi-specialty ophthalmology group comprised of 17 providers that service the Norfolk, Virginia Beach and Chesapeake markets through four clinic locations and an ambulatory surgery center.

Associated Eye Care of Minnesota and Castling Partners Form New Management Services Organization

By Staff
Friday, February 8, 2019 12:27 AM STILLWATER, Minn.—Associated Eye Care, a longtime diversified practice with offices here and in four other locations in Minnesota and Wisconsin, has teamed up with Castling Partners LLC  of Minneapolis to form Associated Eye Care Partners (AECP), a management services organization (MSO), according to an announcement this week. Castling Partners is a privately held advisory and asset development firm comprised of senior health care professionals with significant experience in the delivery of health care, health care policy and health care operations and financing.

EyeCare Partners Acquires Three New OD Practices in Alabama and Georgia

By Staff
Thursday, January 24, 2019 12:24 AM ST. LOUIS—EyeCare Partners LLC (ECP) has acquired three independent optometry practices, one in Alabama and two in Georgia, according to an announcement this week. They are: Potter Eye Care, a Decatur, Ala., practice of Dr. Dale Potter, OD; Elan Eye, an Atlanta-area practice of Dr. Chad Poole, OD, and Sharper Vision Eye Care, the Duluth, Ga., practice of Dr. Mark Gottlieb, OD. With the addition of these three practices, ECP’s current sites of service stands at 289, according to the company. ECP is backed by the private equity firm FFL Partners

Riata Capital Group’s Acuity Eyecare Announces Acquisition of Family Eyecare of Winterset

By Staff
Friday, January 18, 2019 12:21 AM DALLAS—Riata Capital Group said Thursday that its portfolio company Acuity Eyecare Group has acquired Family Eyecare of Winterset, a single location practice based in Winterset, Iowa.

ShoreView and California Retina Associates Form New Administrative Services Group

By Staff
Monday, January 14, 2019 12:21 AM MINNEAPOLIS, Minn.—Yukon Partners has partnered with ShoreView Industries and the founders of California Retina Associates to form a new administrative services organization.

Atlantic Street Capital Forms Advancing Eyecare to Combine Marco Ophthalmic and Lombart

By Staff
Friday, January 11, 2019 11:05 AM STAMFORD, Conn.—Atlantic Street Capital is forming Advancing Eyecare Holdings to bring together its portfolio company Lombart Instrument with Marco Ophthalmic Inc.