PGP Serves as the Exclusive Transaction Advisor for Corrective Eye Center
In August 2020, Eyecare Partners (ECP) acquired Corrective Eye Center (Corrective Eye). Physician Growth Partners (PGP) served as the exclusive transaction advisor to Corrective Eye. This strategic acquisition strengthens EyeCare Partners’ growing footprint across the Northeast Ohio market.
Who is Corrective Eye?
Corrective Eye is a well-known ophthalmology group based in the greater Cleveland market. Led by Dr. Samuel Salamon and Dr. Greg Louis, Corrective Eye brings two associate physicians across three locations and a surgery center. Corrective Eye was founded nearly 40 years ago and has deep ties in the region. Dr. Salamon and Dr. Louis explored a strategic partnership as he wanted to usher in Corrective Eye’s next chapter of growth.
PGP offers incomparable experience, market expertise, and relationships across the specialty physician sector. Our extensive, and successful track record includes transactions in a vast array of specialties including eye care, dermatology, pain management, gastroenterology, ENT, urology, and orthopedics, among others, all with various transaction goals and shareholder structures. PGP has dealt with and successfully navigated the challenges that occur when going through a transaction process. PGP complements its background in the field with unmatched access to senior leadership throughout the entirety of the transaction process. We emphasize transparent communication, and a constant focus on ensuring the shareholders’ goals are met. Through a combination of deep experience and a premium, differentiated service, PGP provides superior transaction advisory services for independent physicians interested in pursuing a transaction with private equity.
Navigation a Transaction Through the COVID-19 Pandemic
In order to achieve an optimal outcome, PGP remained laser-focused on partnership dynamics and working with both parties to ensure all needs are met. Corrective Eye represents PGP’s second ophthalmology transaction to close during the COVID-19 pandemic and the fourth eye care transaction completed in the region. By utilizing past experience and market knowledge throughout the negotiation process, PGP was able to execute swiftly, exceeding shareholder expectations. Additional diligence and support were crucial in providing comfort that the effects of the pandemic would be short-lived and would not affect long-term goals or growth strategy.
Choosing Eyecare Partners
EyeCare Partners has a demonstrated track record of scaling eye care businesses by building out a vertically integrated clinical model. Corrective Eye sought a partner who has both significant management expertise and a consistent track record of growth. Corrective Eye looks forward to expanding and growing their practices with the assistance of Eyecare Partners.