CEI Vision Partners, a management services organization newly launched by Cincinnati Eye Institute, an ophthalmology practice, has raised an undisclosed amount of funding. The investor was Revelstoke Capital Partners.
CINCINNATI, May 29, 2018 /PRNewswire/ — Cincinnati Eye Institute (CEI), the largest ophthalmology organization in the region and one of the most reputable practices in the country, today announced the launch of CEI Vision Partners (CEIVP), a new management services organization made possible with the support of Revelstoke Capital Partners, a Denver-based private equity firm.
“For more than 70 years, CEI has been growing as a world-class center of ophthalmic care,” said Robert Foster, M.D., chairman of the board at CEI. “Our goal, with the launch of CEI Vision Partners, is to become one of the nation’s largest and most comprehensive eye care management companies, delivering the highest level of compassionate patient care and leading the way in vision clinical care, surgery, and research all supported by an innovative and best-in-class management team.”
CEI’s talented and comprehensive management team will lead CEIVP’s operations and will continue to provide extensive resources and capabilities to support CEI’s clinical operations. CEI will continue its mission to enhance the quality of patients’ lives by providing the highest level of eye care in the region. Patients should expect no change to CEI’s doctors and service, and will benefit from even greater access to care as CEI’s operations continue to expand fueled by additional resources and investments. “We see tremendous growth opportunities by recruiting best-in-class providers, opening new clinical and surgical facilities, expanding our patient care and business support services, and aligning with market-leading provider groups,” said Daniel Miller, M.D., Ph.D., chief medical officer at CEI.
“We are very pleased to partner with this group of preeminent physicians and highly experienced management who have worked together for more than a decade to set the standard for medical and surgical eye care in the industry,” said Andrew Welch, managing director of Revelstoke. “The formation of CEI Vision Partners is a unique opportunity to leverage CEI’s platform and patient care model and accelerate growth through de novo expansion and add-on acquisitions.”
“The strategic and healthcare expertise that Revelstoke brings will enable us to accelerate our growth while maintaining the highest levels of compassionate patient care,” said Clyde Bell, chief executive officer of CEIVP.
“We are thrilled to partner with such an experienced team of investors committed to building industry-leading companies and enhancing the patient experience,” said Michael Nordlund, M.D., Ph.D., vice-Chairman of the Board at CEI.
The launch of CEI Vision Partners is effective immediately.
About Cincinnati Eye Institute
For more than 70 years, CEI has compassionately provided the highest level of medical and surgical eye care that has enhanced the quality of our patients’ lives. Founded in 1945 by Morris Osher, M.D., CEI has grown to become the largest ophthalmology organization in the region with more than 60 practicing ophthalmologists and optometrists. CEI maintains 14 clinical centers and three ambulatory surgical centers. CEI will continue to strive to be regionally recognized as the first and best choice for medical and surgical eye care.
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare and business services sectors. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy to build exceptional companies. Revelstoke has raised approximately $1.1 billion of equity and, since the firm’s inception in mid-2013, has completed 42 acquisitions, which includes 11 platform companies and 31 add-on acquisitions.