ST. LOUIS—Yesterday, EyeCare Partners (ECP), the nation’s leading clinically integrated network of ophthalmology and optometry providers, announced that it successfully completed its transaction with CEI Vision Partners (CVP), the Midwest and Mid-Atlantic’s premier network of ophthalmology practices to create a combined group of more than 300 ophthalmologists and over 700 optometrists across 18 states. The transaction, previously announced in late October as VMAIL reported, enables ECP "to bolster  patient accessibility to nationally recognized doctors dedicated to serving their vision needs throughout the continuum of care," the announcement said, adding that the group will serve over 3 million patients.

“We are excited to officially welcome the CVP doctors and team members to EyeCare Partners,” said ECP's CEO David Clark. “Each practice that joins our network brings the knowledge associated with years of experience in building a leading organization. As we grow, the cumulative value of this accrues to the benefit of all of our doctors and practices. The addition of CVP in particular elevates EyeCare Partners' clinical and operational standing, knowledge, and resources even further.” 
 
The combination, the largest in the clinically integrated eyecare field, strengthens ECP’s national medical group with the addition of more than 150 industry-leading providers across all major subspecialties in ophthalmology and optometry. ECP’s eyecare services gain 47 clinical centers and eight ambulatory surgical centers across Ohio, Kentucky, Indiana and Virginia, increasing patient accessibility to a continuum of care that enhances clinical outcomes and improves the patient experience.
 


David Clark, CEO, EyeCare Partners. 
“CVP’s highest priority has always been to provide outstanding patient service and world-class clinical care to our patients. Becoming part of ECP provides resources that will enable us to increase our investment in ensuring an unsurpassed patient experience combined with the high quality of care our patients have come to expect,” said Clyde Bell, who previously served as CEO of CVP and now serves as an executive advisor for ECP.
 
ECP said it  emphasizes the importance of doctor leadership, through medical executive boards, in partnership with a diverse group of business leaders with broad health care experience, all working closely together to achieve the best results. Physicians from CVP have been selected to join the medical executive board to assist in developing and driving strategy in advocacy, technology, practice operations, compliance, research, physician recruitment and development. 

In a related announcement issued yesterday, Revelstoke Capital Partners, a Denver-based private equity firm, reaffirmed that it had sold its investment in CEI Vision Partners (CVP) to EyeCare Partners. Revelstoke initially partnered with Cincinnati Eye Institute in May 2018 to form CVP and nine additional ophthalmology groups joined the platform: Dayton Eye Associates, Retina Physicians & Surgeons, Retina Vitreous Associates, Virginia Eye Consultants, Apex Eye, Virginia Beach Eye Center, Valley Eye Institute, Columbus Ophthalmology Associates, and Tidewater Eye Centers.

CVP grew rapidly to over 150 providers across all major ophthalmic subspecialties, who provide high-quality, patient-centric care through a network of 47 clinical centers and eight ambulatory surgical centers across the Midwest and Mid-Atlantic regions.

“We are proud to have helped CVP develop into one of the premier ophthalmology management service organizations,” said Andrew Welch, partner at Revelstoke. “We could not have accomplished this without strong alignment of interest and a shared strategic vision with our physician partners and management and employees.”
 
Revelstoke rolled over a portion of its proceeds to become a meaningful equity holder in ECP alongside lead investor Partners Group, a leading global private markets firm, which acquired EyeCare Partners Group in a prior deal as VMAIL reported.
 
“We continue to believe in the long-term prospects of the vision care sector,” said Anthony Hayes, partner at Revelstoke. “We are impressed by the vertically integrated platform ECP has built and are excited to partner with ECP on the next phase of growth and value creation.”