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ST. LOUIS—EyeCare Partners (ECP), one of the leading optical retail groups in the U.S., has acquired Arizona Eye Institute & Cosmetic Laser Center (Arizona Eye), a leading ophthalmology group based in the northwest Phoenix market. The deal, in which Physician Growth Partners (PGP) acted as adviser to Arizona Eye, was completed earlier this month, according to EyeCare Partners. The terms of the transaction were not disclosed. EyeCare Partners is backed by the global investment firm Partners Group. In December, Partners Group agreed to make “a significant equity investment” in EyeCare Partners, while ECP's management team and physician partners maintained their equity stake in the approximately 500-location practice group, as VMAIL reported. 

The strategic acquisition bolsters the footprint for EyeCare Partners across the broader Phoenix market, the deal announcement noted. Arizona Eye is led by Dr. Emilio Justo, along with four associates, and operates across three practice locations and a surgery center.

Justo said, "I am now looking ahead at the future partnership with EyeCare Partners. The future of Arizona Eye Institute looks incredible, and I have both Physician Growth Partners as well as EyeCare Partners to thank for this."

In addition to Arizona, EyeCare Partners currently offers comprehensive medical eyecare services throughout Alabama, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Michigan, Minnesota, Missouri, New Jersey, North Carolina and Ohio.

Physician Growth Partners served as the exclusive transaction advisor to Arizona Eye in its evaluation, negotiation and execution of this transaction.