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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.

Firmament previously invested in eyecare practices in southern Florida and northern California through its managed services organization, Vision Integrated Partners (VIP). Firmament established VIP in May 2018 through a strategic partnership with the group of Florida and California practices comprised of more than 30 multi-specialty ophthalmologists and optometrists, as VMAIL reported. 

“We feel strongly that the trends in ophthalmology present a compelling long-term investment thesis, and we are excited to partner with a group of physicians with a national reputation for high-quality patient care,” Boyd said. “Further, we are thrilled to back Jim Wachtman and believe his decades of eyecare experience will pay dividends as we continue to invest in the space.”

Campbell added, "We are very excited to partner with Jim and this nationally-renowned physician group, and we look forward to supporting the team as they accelerate their impressive growth trajectory."

Wachtman has over 35 years of health care experience, including 23 years in ophthalmology.