Cain Brothers, a division of KeyBanc Capital Markets, announced that it acted as an advisor to Key-Whitman Eye Center in its acquisition by Surgery Partners. The financial terms of the deal were not disclosed.
Key-Whitman Eye Center provides eye care out of nine locations in Texas. According to its website, it has 22 providers on staff.
Surgery Partners is a leading operator of surgical facilities and ancillary services with more than 180 locations nationwide. It is backed by Bain Capital and has more than 180 locations in 32 states, including ambulatory surgery centers, surgical hospitals, multi-specialty physician practices and urgent care facilities.
According to data captured in the LevinPro HC database, this acquisition marks the 14th Physician Medical Groups transaction of the year, and the third in the eye care specialty. This is Surgery Partners’ first acquisition of 2024. In 2023, Surgery Partners purchased three practices.
