In March, Shopko Optical announced that it had acquired InnoVision Eyecare, an ophthalmology office run by Dr. Gareth Hataye, for an undisclosed price.
Shopko Optical, officially Shoptikal LLC, is an affiliate of Monarch Alternative Capital LP. It has a dedicated team of nearly 700 optometrists and opticians. Shopko Optical operates approximately 125 optical center locations across 12 states, primarily in the Midwest and Far West. Shopko Optical has made four eyecare acquisitions since December 2021.
InnoVision Eyecare has been providing comprehensive eye care services to patients of all ages since 1994. The company operates eyecare centers in Albert Lea and Austin, Minnesota.
Shopko Optical is a provider of eyecare services across the Midwest. It is an affiliate of Monarch Alternative Capital LP and has a dedicated team of nearly 700 optometrists and opticians. Shopko Optical is the trade name of Shoptikal LLC, an affiliate of the private investment firm Monarch Alternative Capital.
Dr. Hataye closed InnoVision Eyecare on March 24, 2022, but will continue optometric care for his patients at Shopko Optical’s new Albert Lea location at 1629 Blake Ave., and also at Shopko Optical’s existing Austin location at 1004 8th Ave. NW, beginning the week of March 28, 2022. The terms of the transaction were not disclosed.
According to the LevinPro HC database, this marks the 21st announced transaction in the ophthalmology subsector of Physician Medical Groups (PMG) of the year. Overall, PMGs have a recorded 121 deals so far in 2022. In the same timeframe of 2021, there were a recorded 20 ophthalmology deals, and the first three months of 2020 saw 14 deals, so 2022 has remained relatively stable. As PMGs are one of our busiest sectors, we anticipate that the sector will remain consistent or even become busier.
