Retina Consultants of America Announces Addition of California Group as a ‘Founding Practice’

By Staff
Friday, March 20, 2020 12:30 AM SOUTHLAKE, Texas—Retina Consultants of America (RCA), a private equity-backed comprehensive physician management services organization, announced Thursday that an additional founding practice, California Retina Consultants, has become a member of the recently formed consortium. California Retina Consultants is comprised of 10 retina specialists with a staff of more than 140 people across 12 offices serving the central valley and coast of California. The terms of the transaction were not disclosed. RCA is backed by Webster Equity Partners, which was founded in 2003 to invest in health care services companies with high-impact growth strategies.

Sight Sciences Announces $30 Million Financing Led by D1 Capital Partners

By Staff
Thursday, March 19, 2020 12:21 AM MENLO PARK, Calif.—Sight Sciences Inc., a growth-stage medical device company transforming two of the fastest-growing segments in ophthalmology and optometry (glaucoma and dry eye disease), announced the closing of a $30 million-plus Series E preferred stock financing round led by D1 Capital Partners.  The proceeds will be used for continued clinical and operational development and to support commercial expansion for Sight Sciences' OMNI and TearCare products, according to the announcement this week. "We are extremely excited to partner with D1 over the long term,” Sight Sciences founder and chief executive officer Paul Badawi said.

ASCRS and ARVO Organizations Cancel Their May Meetings

By Staff
Wednesday, March 18, 2020 12:30 AM NEW YORK—The American Society of Cataract and Refractive Surgeons (ASCRS) announced yesterday that it had cancelled its upcoming ASCRS/ASOA annual meeting, originally scheduled for May 15 to May 20 in Boston. ASCRS said it came to this decision "in the interest of public safety, after monitoring daily recommendations from the Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO), the Massachusetts Department of Public Health (DPH), and the City of Boston." In a notice on its website and in attendee communications, the organization said, "ASCRS continues to be an important resource for your ongoing education, advocacy and philanthropic efforts.

FDA Approves Allergan's Durysta, First Biodegradable Sustained-Release IOL Implant to Treat Glaucoma

By Staff
Wednesday, March 11, 2020 12:18 AM DUBLIN, Ireland—Allergan plc (NYSE: AGN) announced last week that the U.S. Food and Drug Administration (FDA) has approved the company's New Drug Application (NDA) for Durysta (bimatoprost implant) 10 mcg for intracameral administration. With this approval, Durysta becomes the first intracameral, biodegradable sustained-release implant indicated to reduce intraocular pressure (IOP) in patients with open-angle glaucoma (OAG) or ocular hypertension (OHT), the company said."Today's FDA approval marks a breakthrough milestone for the glaucoma community and provides a much-needed option for patients challenged with topical drops or needing alternative options," said David Nicholson, chief research and development officer, Allergan.

Arbor Centers for Eyecare and Chicago Eye Institute Form New PE-Backed Ocular Partners Inc. Organization

By Staff
Friday, February 28, 2020 12:30 AM CHICAGO and LOS ANGELES—Chicago Eye Institute (CEI) and Arbor Centers for EyeCare, two of the leading ophthalmology practices serving the Chicago market, have entered into a strategic partnership with MoonSail Capital LLC and Plenary Partners to form Ocular Partners Inc., according to an announcement. The new entity formed by this transaction will be “the premier physician-led eyecare group in greater Chicago,” the announcement noted. The investment by Los Angeles-based MoonSail and Plenary of Chicago will support growth initiatives of best-in-class ophthalmic practices throughout the Midwest region. The financial terms of the transaction were not disclosed.

Vision Innovation Partners Completes 14th Deal in Just Over Two Years With Recent Maryland Acquisition

By Staff
Monday, February 24, 2020 12:24 AM ANNAPOLIS, Md.—Vision Innovation Partners, a portfolio company of the private equity firm Centre Partners, has acquired Busack Eye Center based in Frederick, Md.

ReFocus Eye Health Promotes Nisha Bhalla to Vice President of Operations

By Staff
Thursday, February 13, 2020 12:18 AM RYE BROOK, N.Y.—ReFocus Eye Health, a nationally focused, collaborative health care organization, has promoted director of operations Nisha Bhalla to vice president of operations. In the newly appointed position, Bhalla will continue to lead across all aspects of the company’s strategy and operations, including mergers, acquisitions, business development, leadership, planning, and other executive functions. ReFocus Eye Health, which was founded in 2018, said it takes “a fresh, enlightened approach to health practice ownership and management,” and noted that it acts as “a source of permanent capital” for health practices.

Fast-Growing Midwest Vision Partners Affiliates With Rosenbaum Eye & Laser Center of Michigan

By Staff
Wednesday, February 12, 2020 12:24 AM CHICAGO and LANSING, Mich.—Midwest Vision Partners (MVP), which is backed by the San Francisco-based private equity firm Alpine Investors, has established a partnership with Rosenbaum Eye & Laser Center (RELC) and the practice’s vision correction center, Michigan Laser Eye Associates (MLEA), according to an announcement this week. Rosenbaum Eye’s offices are here in Lansing. This represents MVP’s fifth partnership overall and bolsters its presence in Michigan, according to the announcement. The terms of the partnership deal were not disclosed.

Carl Zeiss Meditec Reports Double-Digit Growth in Both Strategic Business Units

By Staff
Tuesday, February 11, 2020 12:21 AM JENA, Germany—Carl Zeiss Meditec generated revenue of €369.7 million in the first three months of fiscal year 2019/20, which corresponds to an increase of 14.2 percent (adjusted for currency effects: +12.7 percent) compared with the prior-year period of €323.6 million. Both strategic business units achieved significant increases in revenue. Earnings before interest and taxes (EBIT) rose as a result of the increase in revenue, to €56.8 million compared with the prior-year period of €48.1 million. The EBIT margin increased further, to 15.4 percent compared with the prior-year period of 14.9 percent.

Midwest Vision Partners Announces Partnership With Specialty Eye Institute of Jackson, Mich.

By Staff
Thursday, February 6, 2020 12:24 AM CHICAGO and JACKSON, Mich.—Midwest Vision Partners (MVP), an eyecare management services organization backed by Alpine Investors, has established a partnership with Specialty Eye Institute (SEI), which was founded in Jackson in 1978 by Dr. Paul Ernest. The practice currently employs approximately 208 support staff across 10 clinical locations, according to the transaction announcement. The terms of the partnership transaction were not disclosed. This represents MVP’s fourth partnership and bolsters its presence in both Michigan and Ohio, according to the announcement.

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.

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.

Notal Vision Secures $25 Million in Funding Round for ForeseeHome and Pipeline Technologies

By Staff
Thursday, December 12, 2019 12:15 AM MANASSAS, Va.—Notal Vision Inc., a privately held ophthalmic diagnostic services company focused on advancing eyecare with precision medicine, said this week that Ganot Capital is extending a recent funding round to $25 million. The continued investment will enable Notal Vision to support the commercial growth of the company’s current service, ForeseeHome AMD Monitoring Program, as well as further research and development efforts for pipeline technologies, according to the announcement. “Pursuing additional funding has allowed us to expand our ForeseeHome field-based sales team,” chief executive officer Kester Nahen said in the announcement. “We have a proven model that includes low-cost medical devices, an effective artificial intelligence (AI)-driven decision support solution, and a dependable clinical patient engagement platform. With the additional investment, we believe we will be able to prove that partnering with accounts as an extension of their practice will drive deeper adoption of our home diagnostic services.”

Canon Realigns Strategy to Prepare for Eyecare Systems Business Growth

By Staff
Wednesday, December 11, 2019 12:21 AM TUSTIN, Calif.—As part of Canon Inc.’s global medical business strategic realignment, the eyecare business operations within Canon U.S.A. will transfer to Canon Medical Systems USA, effective Jan. 1, 2020. Canon’s shift in business operations will allow Canon Medical Systems USA to offer ophthalmologic solutions to IDN customers, while leveraging full-line medical imaging business synergies to address population health challenges associated with chronic conditions, according to an announcement this week. Chronic conditions can include age-related macular degeneration, diabetic retinopathy, glaucoma, inherited retinal diseases and other retinal conditions that can lead to loss of vision and blindness.

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].”