It’s not surprising to find new deals weeks or months down the line, but EyeCare Partners announced a bunch of transactions from the second quarter — five to be exact — last week.
EyeCare added Vitreous Retina Macula Specialists of New Jersey (Somerset, New Jersey), Foothills Eye Care (King, North Carolina ), 2020 Vision Care (St. Louis, Missouri), The Retina Clinic (Mine Hill, New Jersey), and Patel Retina Institute (Clarks Summit, Pennsylvania). EyeCare technically closed six deals in the second quarter, acquiring Phoenix-based Arizona Eye Institute & Cosmetic Laser Center, but that transaction was disclosed in late June, according to DSO.
The six new acquisitions give EyeCare a foothold in 15 states throughout the Midwest, Southeast, Mid-Atlantic, and Southwest regions, and adds 11 physicians to its network. Transaction prices were not disclosed.
Since 2015, EyeCare was sponsored by FFL Partners, and the two worked together to build a network of 450 locations and nearly 600 physicians, but FFL exited as an investor in December 2019 when Partners Group took over as a majority shareholder. That deal was valued at $2.2 billion. The new equity from Partners Group seems to be helping EyeCare expand quickly, but the two stated it will also be looking to grow in other fields, such as adding ambulatory surgical centers and building up its clinical technologies. It seems it’s worth keeping the pair on the radar for the foreseeable future.