Altas Partners announced this week that it has partnered with la Caisse de dépôt et placement du Québec to acquire Capital Vision Services, a Virginia-based management services provider to MyEyeDr optometry practices. The company was previously the recipient of private equity financing from Monitor Clipper Partners in 2012.
Correction: A previous version of this report included a misspelling of Altas in the headline and lead sentence. The report has been corrected.
Altas acquires Capital Vision Services
Altas Partners, together with its partners including Andell Inc. and Caisse de dépôt et placement du Québec (“CDPQ”), has acquired Capital Vision Services (“CVS”), the management services provider to MyEyeDr. O.D. (“MyEyeDr.”) optometry practices. Altas is investing in partnership with CVS’ Co-Founder and Chief Executive Officer Sue Downes and other members of management.
Founded in 2001 by Ms. Downes and Robert Samit, O.D., CVS focuses on supporting affiliated independent MyEyeDr. optometrists and their practices with a complete array of financial, marketing, human resources and accounting services, along with managed care credentialing and claims processing. MyEyeDr. practices offer patients exceptional vision care services, a wide selection of prescription eyeglasses and sunglasses, and standard and specialty contact lenses. CVS has grown from managing a single practice in the Washington D.C. metro area to managing 165 optometry practice locations in Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia and Washington D.C. MyEyeDr. affiliated practices have grown steadily through new location openings and collaborative acquisitions, and today have nearly 2,000 employees serving approximately 1.8 million active patients throughout the United States (www.myeyedr.com).
Altas Partners is an investment firm with a long-term orientation focused on acquiring significant interests in high-quality, market-leading businesses in partnership with outstanding management teams. Key elements of our approach include prudent capital structures, active ownership through strategic and operational support and an emphasis on sustainable value creation. We strive to deliver outstanding investment returns for our partners. Altas is led by seasoned private equity professionals and experienced operating executives. For more information, please visit www.altaspartners.com.
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