Physician Growth Partners Advises Kellis Eye & Laser Center on Partnership With Ridgemont-Backed Sunvera Group
Physician Growth Partners (“PGP”) is pleased to announce a partnership between Kellis Eye & Laser Center (“KELC”) and Sunvera Group (“Sunvera”), a portfolio company of Ridgemont Equity Partners (“Ridgemont”). This partnership represents the Platform’s foray into the North Ohio market, facilitating the ability to continue building the clinical leader in ophthalmology services throughout the Midwest.
Established by Dr. Augustine Kellis in 1994, Kellis Eye & Laser Center is the premier provider of comprehensive eye care services in the greater Northern Ohio market, including cataract surgery, glaucoma and retinal disease management, and general optometry. Utilizing their state-of-the-art clinic in Chardon, Ohio, and network of six satellite offices across the greater Cleveland area, KELC combines leading clinical and surgical techniques with a multi-disciplinary provider base to provide exceptional patient care. Over the lifetime of the Practice, KELC has become Ohio’s premier oculoplastic center through cutting-edge, internally developed procedures and a dedication to high-quality patient outcomes. Leveraging KELC’s unmatched market brand and reputation as a key entry point into Ohio, Sunvera will be able to expedite the Platform’s development through supplemental growth initiatives, including additional partnerships and provider recruitment.
Physician Growth Partners served as the exclusive transaction advisor to Kellis Eye & Laser Center in its evaluation, negotiation, and execution of this transaction.
“Michael Kroin and the PGP Team, including Thomas Mumford and Nick Davis, did a phenomenal job helping Kellis Eye & Laser Center navigate the private equity landscape. They are tireless professionals who took the time to understand what makes our practice unique, and therefore the characteristics we sought in a partner,” said Dr. Augustine Kellis. “Throughout this process, Michael served as a trusted advisor and friend. My wife and I consider him a family member who always provided us with a calm voice of reason as the process unfolded. I am convinced that without PGP leading the way, this transaction would have never been consummated. I will always be indebted to PGP for the outstanding outcome that they helped our organization secure, and I am confident and excited about the possibilities that are on the horizon as a partner with Sunvera.”
“While navigating a complex process through the pandemic, Dr. Kellis continued to place his trust in us to ultimately consummate a partnership with a first-class organization. Dr. Kellis’ desire for a partner that could not only provide support to help KELC reach the next level of size and scale but also one in which he could play a key leadership role in building out the Platform throughout the Midwest, was at the center of this process. It was an honor working with Dr. Kellis and the Sunvera and Ridgemont teams, and we could not be more pleased with the outcome,” noted Michael Kroin, Managing Partner at Physician Growth Partners.
Physician Growth Partners is a leading transaction advisory firm that focuses exclusively on advising physician-owned businesses in transactions with private equity. PGP’s education-focused approach creates value for its clients by ensuring their goals are met in a competitive transaction process.
This transaction furthers PGP’s position as the leading provider of transaction advisory services to physician-owned businesses across a range of specialties including: ophthalmology, urology, gastroenterology, dermatology, pain management, ENT, women’s health, orthopedics, podiatry, and behavioral health.