September 2019. Akron, Ohio: Northeast Ohio Eye Surgeons, Inc. (“NEOES”), including its subsidiary business, Ohio Eye Care Consultants, have completed their sale in forming a new ophthalmology platform with Alpine Investors. The consolidated eyecare platform will be called Midwest Vision Partners (“MVP”) and will be led by Joseph Giles as CEO. Northeast Ohio Eye Surgeons along with Ohio Eye Care Consultants is a leading sub-specialty ophthalmology practice in northeast Ohio that provides medical and surgical eye services with seven offices throughout Northeast Ohio.
This investment and Alpine’s distinct PeopleFirst™ approach are expected to help NEOES and OECC scale their vertically integrated models, while continuing to grow the platform and leading with clinical excellence. Alpine’s investment is intended to also help support future partnerships across the Midwest with similarly patient-centric ophthalmology practices that prioritize a high level of focus on clinical care.
Physician Growth Partners served as the exclusive advisor to Northeast Ohio Eye Surgeons.
“I couldn’t be more pleased with our experience partnering with Physician Growth Partners. The lead partners were directly involved with our process and really grew to understand our medical business. They led us to a great valuation outcome, and at the same time helped us find a business partner that truly fit our needs,” Larry Lohman MD, Founding NEOES shareholder.
Dr. Marc Jones, NEOES shareholder, added, “Our experience with Physician Growth Partners (PGP) exceeded my expectations. We interviewed several firms prior to choosing PGP. We were immediately impressed with the partners’ knowledge of our business. It was clear they had already invested substantial time understanding our practice, business climate and opportunities. Throughout our process the managing partners were intimately involved and always accessible. The time and effort they put into our transaction was beyond my expectation and it manifested in us finding an excellent business partner and valuation. It was clear Michael and Ezra are seasoned advisors that knew how to attract, excite and reassure investors. The projections they presented us at our first meeting were very accurate and they delivered on all their promises. Their expertise was very assuring and made what I expected to be a stressful and time-consuming process fun and very manageable. Michael has a great skill in managing the financial and emotional concerns of multiple partners. I feel very fortunate to be a client of PGP.”
“This transaction exemplifies Northeast Ohio Eye’s focus on partnership throughout the process. The result was two groups that have a shared focus on building a premier eyecare group in the Midwest. Alpine brings immense healthcare experience to complement, and build around, the excellent clinical foundation and go forward goals of the physicians,” noted Michael Kroin, Managing Partner at Physician Growth Partners.
For more than 30 years, Northeast Ohio Eye Surgeons have made it their mission to protect and improve patients’ eyesight by providing the best medical and surgical care possible in a warm and caring environment. The practice’s highly-skilled, award-winning doctors are fully trained to diagnose and treat a wide spectrum of eye diseases and conditions from childhood through the golden years. Since the company was founded by Dr. Larry Lohman, in 1982, it has grown to be a premier comprehensive and surgical eye care provider with five locations throughout Northeast Ohio. For more information, please visit neohioeyes.com
Ohio Eye Care Consultants offers a full range of vision services, specializing in surgery for glaucoma, cataract, and other ocular conditions. It was founded in 2006 by Thomas S.K. Chi, M.D. OECC operates facilities in both Medina and Wadsworth, Ohio. For more information, please visit ohioeyecareconsultants.com.
Physician Growth Partners is a boutique healthcare service platform dedicated to serving independent specialty physician practices. They create value by providing operational support, strategic positioning, and transaction advisory ultimately realizing optimal outcome for their clients.