PE-Backed Midwest Vision Partners Sets First Partnership in Michigan With Michigan Eye Institute

By Staff
Friday, January 10, 2020 12:27 AM CHICAGO and FLINT, Mich.—Midwest Vision Partners, which is backed by Alpine Investors, has announced a partnership with Michigan Eye Institute (MEI), which represents MVP’s first partnership in the state of Michigan. Michigan Eye Institute is led by Dr. Gary Keoleian, Dr. Jeffrey Diskin and Dr. David Diskin and has a network of 12 providers. The practice employs approximately 110 support staff across six clinical locations, according to an announcement earlier this week. The terms of the partnership were not disclosed.

The Firmament Group Invests in St. Louis Ophthalmology Practices and Names Jim Wachtman to Lead its Eyecare Platform Strategy

By Staff
Wednesday, January 8, 2020 12:18 AM
NEW YORK—The Firmament Group, which provides debt and equity capital solutions to small- and medium-sized enterprises, has invested in three ophthalmology practices and an ambulatory surgery center in St. Louis, according to an announcement Tuesday. Concurrent with the transactions, industry veteran Jim Wachtman has joined as chief executive officer, Firmament said. The transactions demonstrate Firmament's “continued conviction in the ophthalmology sector,” the announcement added. No other details about the transactions were available at press time. Parris Boyd and Green Campbell led the transactions for Firmament.

Midwest Vision Partners Announces Partnership With Cleveland Eye Clinic as it Expands Presence in Ohio

By Staff
Friday, December 20, 2019 12:24 AM
CHICAGO and CLEVELAND—Midwest Vision Partners (MVP), which is backed by the private equity firm Alpine Investors, said Thursday that it has established a partnership with Cleveland Eye Clinic (CEC), which operates across 13 clinical locations in the state. This partnership represents MVP’s second partnership in Ohio, according to the announcement. The terms of the transaction were not disclosed. Cleveland Eye Clinic, which was founded in 1943, is led by Dr. Bill Wiley and Dr. Shamik Bafna and has a network of 20 providers and approximately 130 support staff across its 13 sites. Over the last decade, CEC has experienced rapid growth, developing a full scope service network offering including primary and surgical eye care, LASIK and optical, according to the announcement.

With EyeCare Partners Deal, Swiss Firm Sees a Base for ‘Organic Growth, Expansion and Consolidation’ of U.S. Vision Market

By Staff
Tuesday, December 17, 2019 12:24 AM
DENVER and BAAR-ZUG, Switzerland—In the second major acquisition of an eyecare practice management group this year, the Switzerland-based Partners Group announced Monday morning that it has agreed to make a significant investment in EyeCare Partners LLC (ECP), a leading vertically integrated medical vision services provider in the U.S. FFL Partners announced separately that it was selling the stake it had held in EyeCare Partners since its initial investment in April 2015. The terms of the deal were not disclosed, but a person familiar with the the transaction told The Wall Street Journal the value of the deal (including debt assumption) was approximately $2.2 billion.

Shopko Optical Opens 80 Free-Standing Locations in 180 Days and Plans 35 Additional Optical Centers in 2020

By Staff
Friday, December 13, 2019 12:30 AM GREEN BAY, Wis.—With the support of a focused team, an efficient plan and an experienced investment group, Shopko Optical said this week that it has opened 80 free-standing optical centers in 180 days, and that the company plans to open an additional 35 optical centers in 2020, according to its announcement. Shopko Optical, which is backed by the investment firm Monarch Capital, has been a leading provider of eyecare services to Midwest communities for more than 40 years. The optical company was acquired out of bankruptcy court for $8.5 million in mid-May by Monarch Alternative Capital LP, a private investment firm with offices in New York and London, as VMAIL reported. 

EyeCare 20/20 Becomes the First New Jersey Eyecare Practice to Join OCLI Group

By Staff
Thursday, December 12, 2019 12:18 AM
GARDEN CITY, N.Y.—OCLI, a Spectrum Vision Partners (SVP) managed practice organization, has added the EyeCare 20/20 practice of New Jersey to its group. The northern New Jersey practice becomes the first in New Jersey within the OCLI ophthalmology group, according to the announcement earlier this week. Founded in 1997, OCLI oversees a leading group of ophthalmology practices in the Northeast, with 21 state-of-the-art medical facilities across Manhattan, Nassau and Suffolk counties in New York.

Vision Innovation Partners Acquires Three Northern Maryland Eyecare Facilities

By Staff
Wednesday, December 11, 2019 12:18 AM ANNAPOLIS, Md.—Vision Innovation Partners has acquired two practice groups and a surgery center in northern Maryland, according to a recent announcement. The acquisition of Carroll Vision CenterCenter for Total Eye Care and Carroll County Surgery Center further expands Vision Innovation Partners' growing network of ophthalmology practices in the Mid-Atlantic region, the announcement noted. Vision Innovation Partners, which is a portfolio company of the private equity firm Centre Partners, said the acquisitions demonstrate its “continued commitment to recruiting top-performing doctors and expanding patient access to care across its growing network of practice locations and surgery centers in the Mid-Atlantic [region].”

Eyecare Services Partners Names Dakon Montgomery as Chief Operating Officer

By Staff
Wednesday, November 13, 2019 12:21 AM DALLAS—Eyecare Services Partners (ESP), a leader in integrated eyecare services, has announced the appointment of Dakon H. Montgomery as chief operating officer, effective Monday (Nov. 11). Montgomery comes to ESP with 12 years of leadership experience in outpatient health care services. Most recently he was a senior vice president in the ambulatory surgery division (ASC) of HCA Healthcare in Dallas, where he was responsible for four divisions encompassing seven markets and 37 ambulatory surgery centers, according to the announcement.

Eyecare Services Partners’ Affiliate Sets Partnership With Howard Jacobson, MD, of Washington

By Staff
Monday, October 21, 2019 12:21 AM
DALLAS—Howard Jacobson, MD (Jacobson), has entered into a strategic partnership with an affiliate of Eyecare Services Partners Management (ESP).

EyeSouth Establishes Initial Presence in Louisiana With Two Separate Transactions

By Staff
Wednesday, September 4, 2019 12:21 AM ATLANTA—EyeSouth Partners, a Shore Capital Partners-backed management services group, announced Tuesday that it has completed an affiliation with Eyecare Associates,  Outpatient Eye Surgery Center, Eye Laser Institute and The Looking Glass (collectively, grouped under the Eyecare Associates umbrella), and a separate transaction with Scott D. Lanoux, MD & Associates and L&L Optical.The affiliations represent EyeSouth’s first moves in Louisiana, which will be a strategic growth state for the company in the future, according to the announcement. The terms of the transactions were not disclosed.

Seeking Solutions

By Mark Tosh
Monday, August 12, 2019 12:30 AM In the world of optical retailing and eyecare, the arrival of the year 2020 might be seen as the best of times for the profession. Demographics, especially an aging population, higher incidence of diseases that may impact eye health (such as diabetes), and new areas of practice focus—namely myopia and blue light protection—are opening up avenues of opportunity for eyecare professionals.

MyEyeDr.: Valuing Doctor-Patient Loyalty

By Mark Tosh
Monday, August 12, 2019 12:28 AM

EyeCare Partners: A Doctor-First Approach

By Mark Tosh
Monday, August 12, 2019 12:27 AM Right behind MyEyeDr. in terms of size and scope is EyeCare Partners of St. Louis. The group has almost 300 locations where doctors see patients and is now in 11 states following a move into Alabama in March. EyeCare Partners launched in April 2015, when the private equity firm FFL Partners invested in St. Louis-based Clarkson Eyecare group, which had 63 locations at that time.

Acuity: Launched in 2017, but Growing Quickly

By Mark Tosh
Monday, August 12, 2019 12:26 AM Perhaps one of the newer PE-backed management groups in the eyecare sector is Acuity Eyecare Group, which was formed in early 2017 when Riata Capital acquired Crown Vision Center, Eyetique and International Eye Center and combined the practices under the Acuity management services umbrella. The group has now expanded to almost 125 locations following a pair of late July acquisitions that added 11 locations and marked the group’s entry into Texas. Acuity jumped four spots and ranked No. 17 in VM’s recent list of Top 50 U.S. Optical Retailers.