December 2019. EyeCare 20/20, a leading ophthalmology group based in East Hanover, NJ has been acquired by Ophthalmic Consultants of Long Island (OCLI), a Spectrum Vision Partners (SVP) managed practice.
The affiliation will add a leading physician, Dr. Cary Silverman MD, and his practice to the OCLI/SVP platform, marking the initial entrance for SVP into the New Jersey market.
Physician Growth Partners (PGP) served as the exclusive advisor to EyeCare 20/20. Dave Peck of Greenberg Traurig acted as legal counsel to EyeCare 20/20.
Dr. Cary Silverman of EyeCare 20/20 noted, “I was lucky to find Physician Growth Partners. I would not have been able to get through this process on my own. PGP worked through every detail with me to ensure I received an optimal outcome. I am thrilled to join SVP/OCLI toward continued growth in the region.”
“We continue to see significant investor interest in the ophthalmology sector. It is extremely important for physicians to have the right representation to ensure their goals are met in a transaction. We began with the goal of ensuring Dr. Silverman understood all of his options by facilitating a competitive process. He was able to choose his ideal partner who we felt would best position his practice for success in the market,” noted Ezra Simons, Managing Partner at Physician Growth Partners.
Physician Growth Partners is a boutique healthcare service platform dedicated to advising physician practices in transactions with private equity. They create value by providing operational support, strategic positioning, and transaction advisory, ultimately realizing an optimal outcome for their clients.
Spectrum Vision Partners is a leading management services organization, serving the ophthalmology sector. Spectrum Vision Partners has over 700 employees, providing world-class practice management solutions to a network of nationally renowned, multi-specialty ophthalmologists in the Tri-State region. Spectrum Vision Partners provides a comprehensive set of business support functions including billing and collections, marketing, financial and accounting services, benefits and payroll management, and information technology.