Yukon Partners said Jan. 9 that it is partnering with ShoreView Industries and the founders of California Retina Associates (CRA) to form an administrative services organization. The company will provide administrative and non-clinical support services, support CRA, and seek to affiliate with other ophthalmology groups throughout the Western United States.
MINNEAPOLIS–(BUSINESS WIRE)–Yukon Partners (“Yukon”), a provider of mezzanine capital for middle market private equity transactions, is pleased to announce that it has partnered with ShoreView Industries and the founders of California Retina Associates (“CRA”) in the formation of a new administrative services organization (“ASO”).
CRA is one of the largest retina surgery and ophthalmology groups based in Southern California and operates across three clinical sites and one ambulatory surgery center in San Diego and Imperial Counties. CRA’s physicians offer care and cataract surgery services to patients for all stages of retinopathy, glaucoma, age-related macular degeneration, and other retinal diseases.
The ASO will provide administrative and non-clinical support services and support CRA to achieve continued organic growth, as well as seek to affiliate with other leading ophthalmology groups throughout the Western United States.
“Partnering with ShoreView allows us to accelerate growth, while still preserving the high quality of service that our patients have come to expect,” said Nasrin Mani, CRA co-founder and physician. “Our doctors and employees are excited to partner with the team at ShoreView.”
“CRA is a well-regarded retina-focused practice in the San Diego area and we are excited to partner with the CRA team,” said Tom D’Ovidio, a ShoreView Partner. “The Mani family has assembled an exemplary team of providers and employees, and we believe the newly formed ASO will support CRA in its continued growth, both through its existing locations and potential add-on acquisitions.”
Bill Dietz, Managing Partner of Yukon, added, “We are pleased to have the opportunity to partner with ShoreView and the Mani Family in forming this ASO. CRA has assembled quality providers of care and invested in high-end facilities to provide needed services within a growing ophthalmology industry.”
About California Retina Associates
Founded in 1988, CRA provides diagnosis and treatment for a wide range of eye diseases and disorders with a specific focus on those involving the retina and the vitreous. Many of the Company’s ophthalmologists hold teaching or leadership positions in industry societies such as the American Academy of Ophthalmology and the American Society of Retina Specialists. For more information, visit http://www.retinadrs.com/.
About Yukon Partners
Yukon Partners is an independent and unaffiliated junior capital provider, primarily serving middle market private equity sponsor led business transactions in the U.S. and Canada. The transactions in which Yukon invests include buyouts, growth and platform strategies, recapitalizations, mergers/acquisitions, and public-to-private buyouts. Yukon typically invests $10 to $50 million per transaction and currently manages approximately $1.2 billion across three funds. Yukon Partners is based in Minneapolis, Minnesota. For more information, please visit www.yukonpartners.com.
About ShoreView Industries
ShoreView Industries, based in Minneapolis, MN, manages $900 million in private equity funds. ShoreView invests in established, middle-market companies with operations in North America, across a wide range of industries. ShoreView structures a variety of acquisition, recapitalization, and build-up transactions, typically in businesses with revenues ranging between $20 million and $300 million. For more information, please visit www.shoreviewindustries.com.