PRISM Vision Group Completes Transaction With The Retina Group of Washington as it Expands in Mid-Atlantic Region

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UNION, N.J.—PRISM Vision Group, a vertically integrated eyecare services organization operating in the Mid-Atlantic region, has completed its transaction with The Retina Group of Washington (RGW), the leading provider of retinal and macular care in the Washington, D.C., metropolitan area, according to an announcement late last week. RGW operates 17 eyecare locations throughout Virginia, Maryland and the District of Columbia. RGW also is one of the largest group ophthalmology practices in the U.S., and the largest practice solely dedicated to retinal care, the announcement noted. The terms of the transaction were not disclosed.

PRISM, one of the largest, independent ophthalmology and retina administrative services organizations in the Mid-Atlantic, has a history in eyecare of more than 30 years. It is financially backed by Quad-C, a Charlottesville, Va.-based middle market private equity firm. With the addition of RGW, PRISM now has more than 120 providers, at nearly 70 locations across New Jersey, Pennsylvania, Delaware, Virginia, Maryland and the District of Columbia.

“We are excited to have The Retina Group of Washington join our growing organization,” PRISM’s Steven A. Madreperla, MD, PhD, president and chief executive officer, said in the announcement. “This affiliation expands our footprint and comprehensive network of eyecare providers throughout the Mid-Atlantic region, including the District of Columbia and the state of Virginia, while at the same time making us home to the largest network of retinal care providers in the country.”

PRISM, a physician-led organization, said its mission is to support practices in providing patients with world-class, comprehensive eyecare while at the same time building an unrivaled practice environment for its network of affiliated physician groups and employees.

“RGW has a long legacy of providing high-quality, retina services,” Michael M. Lai, MD, PhD, a physician partner with RGW, said. “We are confident that our affiliation with PRISM Vision Group, will support, enhance and expand the services we provide to our patients, and our ability to grow and affiliate with more eyecare providers in our market.”

Harris Williams, a global investment bank specializing in M&A advisory services, advised The Retina Group in this transaction.

“We look forward to working closely with RGW on strategic growth initiatives and integration, optimizing the network model, enhancing administrative processes and operating efficiencies, investing in clinical technologies and most importantly in supporting the highest level of patient care,” Dr. Madreperla added.