Sep 30, 2022

Capstone Partners Advised Commonwealth Eye Care Associates on its Sale to Eyecare Partners

Capstone Partners advised Commonwealth Eye Care Associates (CECA)—a leading Ophthalmology practice offering medical and surgical care—on its sale to EyeCare Partners (ECP).

Commonwealth Eye Care Associates, founded in 2000, has two locations throughout Virginia. Their highly skilled staff specialize in the diagnosis and management of glaucoma, cataracts, and diabetic eye complications.

“CECA has been a leader in the clinically integrated model of referral-based patient care for many years. We work in a cooperative effort at CECA, especially with the doctors in our community to ensure patients receive the best care possible,” said Andrew J. Michael, M.D. of CECA. “Joining EyeCare Partners allows us to work on a larger scale with a partner that shares our philosophy and approach to integrated eye care. We are thrilled to be part of the ECP team and look forward to further expanding our expertise, resources, and best practices.”

When we began our search for an investment banking partner, we interviewed a number of candidates. From the first meeting with the Healthcare team at Capstone, we knew we wanted to go with them. They differentiated themselves with deep knowledge and experience to get our deal to successful completion. Throughout the process, they were there to advise, assist, recommend and strategize. The professionalism, attention to detail, and knowledge were a tremendous help in realizing our goals. They did not disappoint, and we would highly recommend that other physicians evaluating a strategic sale reach out to the Healthcare team at Capstone.

Dr, Andrew J. MichaelM.D., CECA

“We listened to the doctors and implemented a strategy that was both defensive and offensive to achieve the optimal valuation for the long-term success of the practice by positioning Commonwealth EyeCare Associates concurrently with the Retina Institute of Virginia” said Eric Williams, Head of Capstone’s Healthcare Investment Banking team. “We designed our process to find the best strategic partner to meet the practices’ objectives.”

EyeCare Partners is the nation’s leading provider of clinically integrated eye care. Their national network of over 300 ophthalmologists and 700 optometrists provides a lifetime of care to patients with a mission to enhance vision, advance eye care, and improve lives. Based in St. Louis, Missouri, over 680 ECP-affiliated practice locations provide services that span the eye care continuum in 18 states and 30 markets.

The expert investment banking professionals on Capstone Partners’ Healthcare Team work with leading middle market companies operating in the Healthcare Services market to advise with their strategic decision-making in order to maximize financial outcomes at every stage of the business lifecycle. Our firm has developed a full suite of corporate finance solutions, including M&A advisory, debt advisory, financial advisory, and equity capital financing to help privately owned businesses and private equity firms address any need, ranging from growth and financial or operational advisement to an ultimate exit transaction. To learn more about this transaction, or about the benefits of starting a relationship with our Healthcare Banking Team, contact us here.