ShoreView and California Retina Associates Form New Administrative Services Group

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MINNEAPOLIS, Minn.—Yukon Partners, a capital provider for middle- market private equity transactions based here, has partnered with ShoreView Industries and the founders of California Retina Associates (CRA) in the formation of a new administrative services organization (ASO), according to an announcement last week. CRA is one of the largest retina surgery and ophthalmology groups based in Southern California and operates across three clinical sites and one ambulatory surgery center in San Diego and Imperial counties, according to the announcement.

CRA’s physicians offer care and cataract surgery services to patients for all stages of retinopathy, glaucoma, age-related macular degeneration and other retinal diseases.

The newly formed ASO will provide administrative and non-clinical support services and support CRA to achieve continued organic growth, as well as seek to affiliate with other leading ophthalmology groups throughout the western U.S., the announcement noted.

“Partnering with ShoreView allows us to accelerate growth, while still preserving the high quality of service that our patients have come to expect,” Nasrin Mani, a CRA co-founder and physician, said in the announcement. “Our doctors and employees are excited to partner with the team at ShoreView.”

“CRA is a well-regarded retina-focused practice in the San Diego area and we are excited to partner with the CRA team,” added Tom D’Ovidio, a ShoreView partner. “The Mani family has assembled an exemplary team of providers and employees, and we believe the newly formed ASO will support CRA in its continued growth, both through its existing locations and potential add-on acquisitions.”

Yukon managing partner Bill Dietz said the firm is pleased to partner with ShoreView and the Mani Family to establish the new in ASO. “CRA has assembled quality providers of care and invested in high-end facilities to provide needed services within a growing ophthalmology industry,” he added.

Founded in 1988, CRA provides diagnosis and treatment for a wide range of eye diseases and disorders with a specific focus on those involving the retina and the vitreous. Many of the company’s ophthalmologists hold teaching or leadership positions in industry societies such as the American Academy of Ophthalmology and the American Society of Retina Specialists, according to the announcement.

ShoreView, also based in Minneapolis, manages $900 million in private equity funds and invests in established, middle-market companies across a wide range of industries.