FORT COLLINS, Colo.—Archimedes Health Investors and Panorama Eyecare (PEC), a physician-led management services organization, announced this week a strategic partnership amidst a $150 million initial capital investment. The investment, some of which dates to PEC’s founding in February 2021, has helped fuel the management services organization’s ability to form strategic partnerships with eight eyecare groups through the course of this year. According to PEC, the organization has become the largest comprehensive eyecare organization in the Rocky Mountain region.

Archimedes Health Investors led the $150 million capital investment in partnership with the Eye Center of Northern Colorado (ECNC) and Denver Eye Surgeons (DES), the two founding practices of PEC.
With the capital infusion, PEC plans to expand its presence as a physician-led management services organization by adding additional eyecare centers with the goal of delivering excellence in patient care, patient experience and team member experience, the announcement this week noted. Archimedes Health Investors continues as the majority holder in the organization, with doctors from the participating practices and other investors holding a significant stake in the organization, chief operating officer Dan Karpel told Vision Monday.
Karpel said the organization expects to add new practice groups in 2022, primarily in the Mountain West region. “Right now, we're really focused on Colorado, where we're founded, [and] finding great partners that share the values that we have. If there's interest [from practices] in adjacent regions, then we'll have those conversations at that time.” PEC has a total of 12 locations and over 500 team members. 
The initial eight clinics that partnered with Panorama Eyecare include Eye Center of Northern Colorado, Denver Eye Surgeons, Cheyenne Eye Clinic & Surgery Center, Boulder Eye Surgeons, Northwest Eye Center, Eye and Laser Center of Fort Collins, Windsor Eye Care & Vision Center and Arvada Vision & Eye Clinic.

“We are excited about our continued growth and grateful to be partnering with such an outstanding group of doctors and team members to deliver a market leading and differentiated experience for our patients in the markets we serve,” Marcello Celentano, Panorama Eyecare’s chief executive officer, said in the announcement. “The investment by Archimedes Health Investors, combined with our current group of clinic partners, well positions PEC to be an industry leader and important partner for doctors and managed care organizations, as well as suppliers and vendors focused on eyecare and addressing patient needs.”

As part of its continued growth, PEC recently appointed Celentano as CEO, Travis Wolther as chief financial officer and Karpel as chief operating officer and head of business development.

ECNC pediatric ophthalmologist and chief medical officer Patrick Arnold, MD, added, “In the ever changing world of medicine, Panorama Eyecare provides the resources necessary for outstanding patient care in an innovative, collaborative, and secure setting.”

Harry Eichelberger, managing partner of Archimedes Health Investors, said, “We are thrilled to be partnering with PEC to help accelerate their growth and with the clinicians and team members from these eight outstanding practices to help them invest for the future. These groups are driven by complementary cultures that put patients first through a focus on collaborative care between optometrists and ophthalmologists. We look forward to continuing to invest and support such a high-quality team.” 

PEC said it is the only physician-led eyecare management services organization in the region that incorporates both ophthalmology and medical optometry practices into one group. As part of a management services organization, partnering physicians receive administrative support from the PEC team devoting time and resources to state of the art systems and equipment, back-office solutions, patient acquisition and retention, and a focus on customer service, training and execution.

“Panorama is a great partner to provide the capital and infrastructure that we need to stay strong in the market,” added Jan Stahl, MD, of Denver Eye Surgeons.