CINCINNATI, Oct. 29, 2021 /HAUSER/ — EyeCare Partners (ECP), the nation’s leading clinically integrated network of ophthalmology and optometry providers, announced last week that it entered into an agreement to acquire Cincinnati, OH-based CEI Vision Partners (CVP), a premier network of ophthalmology practices. The combined entity creates a group of more than 280 ophthalmologists and over 700 optometrists supported by almost 5,000 clinical staff and 1,200 support services team members across 18 states. The financial terms of the transaction were not disclosed.
“We have made numerous investments in ophthalmology across our fund portfolio. Revelstoke and the management team of CEI have been top performers and the acquisition by EyeCare speaks to the strength of the investment and the market power of Cincinnati businesses,” said Hauser Private Equity managing partner, Mark Hauser.
In 2018, Hauser Private Equity joined Denver-based private equity firm Revelstoke Capital Partners as a co-investor and strategic partner investing in Cincinnati Eye Institute. Together, Revelstoke and Cincinnati Eye Institute formed CEI Vision Partners, a management services organization designed to support Cincinnati Eye Institute’s growth, allowing them to pursue additional partnerships with other leading ophthalmology providers. With an aggressive organic growth plan and multiple notable acquisitions, including Dayton Eye Associates, CEI Vision Partners grew to over 150 doctors.
“We are thrilled with this outcome for the employee partners of CEI Vision and for the investors In Hauser Private Equity Core Fund III. We are also excited about the continued progress of our other two co-investments with Revelstoke Capital Partners, OrthoAlliance (formally Beacon Orthopedics), headquartered in Cincinnati, OH, and DataLink, headquartered in Tampa, FL,” said Hauser Private Equity co-managing partner, Paul Swanson.
EyeCare Partners is owned by Swiss private equity firm, Partners Group Holding AG. Post-acquisition, EyeCare will serve over 3 million patients annually.
“CVP has grown substantially over the last three years by partnering with leading ophthalmology practices in the Midwest and Mid-Atlantic region, and we are excited to take this growth to the next level in partnership with EyeCare Partners,” said Clyde Bell, CEO of CVP. “As soon as we initiated the conversation with ECP, it was apparent that together, our organizations’ strengths and mission-driven cultures will expand on our ability to provide the highest level of vision care for our patients and better opportunities for our doctors and team members.”
“Our partnership with CVP will be transformative in the industry, creating a premier network of top doctors who can deliver the best patient outcomes, patient experiences, and highest efficiencies in the delivery of care,” David Clark, CEO of EyeCare Partners, said in a release.
About EyeCare Partners
EyeCare Partners is the nation’s leading provider of clinically integrated eye care. Their national network of affiliated ophthalmologists and optometrists provides a lifetime of care to patients with a Mission to Enhance Vision, Advance Eyecare, and Improve Lives. ECP’s network of affiliated doctors is comprised of more than 150 ophthalmologists and 650 optometrists. Based in St. Louis, MO, ECP-affiliated practices provide care in 18 states and 80 markets, providing services that span the eye care continuum. For more information, visit eyecare-partners.com.
CVP is a premier ophthalmology management services organization formed in 2018 through a partnership with Cincinnati Eye Institute, one of the nation’s largest ophthalmology practices. Partner practices and their affiliated providers are currently based in Ohio, Kentucky, Indiana, and Virginia, creating a network of more than 150 industry-leading providers across all major subspecialties in ophthalmology and optometry, 47 clinical centers, and eight ambulatory surgical centers. CVP strives to attract best-in-class physicians and staff and deliver the highest quality eye care in the industry. For more information, visit cvphealth.com.
About Hauser Private Equity
Hauser Private Equity is a private equity fund manager and co-investor formed to invest throughout the lower-middle and middle markets via partnerships with control buyout funds and with managers of growth equity and special situations funds. Hauser Private Equity leverages the multi-industry expertise of its Limited Partners to identify targets, grow companies, and enhance returns. Hauser Private Equity was founded by Mark Hauserand Paul Swanson and is based in Cincinnati, OH, operating offices in both Los Angeles, CA and Chicago, IL.