With an already impressive 16 Physician Medical Group deals in January alone (and we still have a week left), six of those have been ophthalmology practice deals. To put that in context, there were a total of 11 in the fourth quarter of 2018. If the trend continues, that number will be easily eclipsed in the first quarter of 2019.
Perhaps the most important acquisition to note is CEI Vision Partners’ (CVP) acquisition of Virginia Eye Consultants, announced on January 24. It will make CVP one of the largest ophthalmology management services organizations in the nation. CVP will add 11 ophthalmologists, six optometrists, and more than 185 staff from Virginia Eye. The deal marks CVP’s fourth acquisition since October 2018, and one of two in this month. It also acquired Retina Vitreous Associates, an Ohio-based vitreoretinal surgical practice with over 10 locations.
The California market is a big focus area for buyers. Unifeye Vision Partners acquired Colton, California-based Inland Eye Institute, its second acquisition in the southern California market since February 2018. Shoreview Industries, a private equity firm, bought California Retina Associates to form an administrative services organization that will provide administrative and non-clinical support services to CRA as well as other specialty eye care practices throughout the western United States.
None of these deals disclosed prices.