The speakers at the Private Equity session (l to r)
are Michael Kling, OD, Roger Mummert of Jobson’s Review of Optometric Business, Kelly McCrann of EyeCare Partners, Jeff Fronterhouse of Riata
Capital, Sue Downes of MyEyeDr., Eric Anderson
of Acuity EyeCare Group (back row), Mark Wright, OD, FCOVD, Marge Axelrad of Vision Monday,
Justin MacCormack of Imperial Capital (back row) and Brian Chou, OD, FAAO.
NEW YORK—A decision many ECPs are weighing today—whether or not to sell their practice to a private equity investment group—took center stage Saturday afternoon as a distinguished panel of ECPs and executives with PE firms tackled the topic from varying perspectives. The special Vision Expo session, “Private Equity Takes Root – What Does It Mean for Optometry?” drew an overflow crowd of interested executives from across the optical industry. Mark Wright, OD, FCOVD, professional editor of Review of Optometric Business, set the stage for the discussion with his opening comments that detailed how a number of other medical specialties have gone through a similar transition period with PE investment in recent years, including hospital groups acquiring ophthalmology practices and dentistry.

“We’ve seen this picture before,” Wright said as he opened the session, a joint effort of Review of Optometric Business, Vision Expo and Vision Monday. “There are options are out there… Today we want to begin the conversation and start you thinking about those options.”

The first panel, which also included optometrists Brian Chou, OD, FAAO and Michael Kling, OD, explored the ECP’s perspective of taking on an outside investor. Chou, who sold his practice in 2017, discussed his rationale for the decision and some of the subsequent changes to the practice. “In a nutshell, my experience has been a mixed outcome,” he noted. “I was grateful to take some chips off the table,” but he also noted that “new stresses” and new, unintended consequences have arisen following the sale.


The management group panel addressing
questions about managed care and ECP retention,
among other topics, from moderators Marge
Axelrad of Vision Monday (far left) and Roger
Mummert of Review of Optometric Business (far right).
The management group panel included Sue Downes, CEO of MyEyeDr., Kelly McCrann, CEO of EyeCare Partners, Jeff Fronterhouse, managing partner of Riata Capital which formed Acuity Eyecare Group in 2017, Justin MacCormack of Toronto’s Imperial Capital, and Eric Anderson, the new CEO of Riata’s Acuity unit.

Fronterhouse noted that collaboration between the investor group and ECP is a key factor in the success of any deal. “Private equity can play a role in different markets, but it’s not a fit in every market,” he said. “It is a way to create value or unlock value. We want to build good businesses and be a positive for the industry,” he said, noting the advantages a PE investment may bring include expanded patient access and improved care.”