Vision Integrated Partners (VIP) announced on September 29 that it acquired three ophthalmology practices. The practices are Britton Vision Associates, Southwest Eye Clinic & Surgery Center and Sedalia Eye Associates. This is the 70th optometry/ophthalmology transaction of 2022.
Backed by private equity firm The Firmament Group, Vision Integrated Partners (VIP) is a managed services organization providing non-medical services to its network of eyecare professionals across 23 practices, with 33 locations, nine ambulatory surgery centers and two research centers in Kansas, Missouri, Ohio, Oklahoma, Florida and California.
Britton Vision Associates has eight locations in the Oklahoma City MSA and nine doctors. Operated by two doctors, Southwest Eye Clinic & Surgery Center has one location in Oklahoma City. A surgery center is attached to the clinic. Sedalia Eye Associates has one location in Sedalia, Missouri and is run by three doctors.
With the acquisition of Britton Vision Associates and Southwest Eye Clinic, VIP expands into the Oklahoma City MSA and adds nine clinic locations including an ambulatory surgical center. The addition of Sedalia Eye Associates to VIP’s network strengthens the MSO’s position in the greater Kansas City market. The financial terms were not disclosed.
Through the company itself and/or its portfolio companies, this is The Firmament Group’s second transaction of 2022. Previously it acquired Spectrum Eye Institute in New Lenox, Illinois, Lee Eye Center in Boardman, Ohio and Retina Consultants of Michigan in Southfield, Michigan.
According to the LevinPro HC database, this transaction marks the 441st Physician Medical Group (PMG) acquisition of the year. Private equity and/or their portfolio companies have driven M&A activity in the PMG sector, accounting for 69% (305 deals). In the optometry/ophthalmology subsectors, private equity represents 56 out of 70 deals, or 80%.
