NEW YORK—Is private equity and independent optometry a good mix? That’s a question many in the optical industry today are asking.

The topic of private equity, and what the role of “ready cash” means to the future of independent optometry, is addressed in a recent special report published by Review of Optometric Business (ROB), a sister publication of VMail and Vision Monday. The 12-page report, “Private Equity & The Investment Effect,” can be downloaded here.

The author of ROB’s special report is Brian Chou, OD, FAAO, who practices at EyeLux Optometry in San Diego. He recently transferred ownership of his practice to a larger practice that is affiliated with the private equity group EyeCare Services Partners Holdings.

Chou writes that even as many ODs have long had the dream of owning their own practice, “a fascinating countertrend is emerging: More OD owners, including those decades away from traditional retirement age, are selling their practices and becoming employees of the buyer.” The twist today, as Chou, notes, is that these ODs are not selling their practices to other ODs, but rather to portfolio companies of private equity groups that are “focused on consolidating both optometry and ophthalmology practices.”

The paper reviews some of the leading private equity players driving this phenomenon, including EyeCare Partners LLC, which operates Clarkson Eyecare and several other brands, and also highlights some of the major private equity deals between 2014 and today. As VMail reported, a run of acquisitions over the past several years has changed the composition of the Vision Monday Top 50 U.S. Optical Retailers list.

In addition, Chou addresses several other key factors for independents to consider in the special report, including a “seller’s checklist” of points to consider before agreeing to sell, how the purchase price is calculated, and a review of the downsides and risks of selling to a private equity firm or one of its affiliated practices.

With a war chest estimated at $1 trillion in cash, private equity firms likely will continue seeking mergers and acquisitions in eyecare, just as they have in such other health care sectors as primary care, dermatology and dentistry, according to the ROB report. Additional articles reflecting the independent eyecare professional’s perspectives on the trend are planned in the near future, according to ROB.

And Vision Monday will also continue to report on key transactions and revisit the topic of private equity’s impact on the industry this fall, when VM will present another report updating its 2015 exclusive two-part series, New Investors’ Opti-Mism.