The Firmament Group has teamed up with over thirty multi-specialty ophthalmologists and optometrists to form Vision Integrated Partners, an integrated management services organization serving the ophthalmology sector. No financial terms were disclosed. Firmament and Cadence Bank provided the financing for this transaction.
The Firmament Group (“Firmament”), formerly known as McLarty Capital Partners, a leading provider of tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs), has announced a strategic partnership with a group of multi-specialty ophthalmology practices located throughout California and Florida (the “Founding Practices”). In connection with the formation of this strategic partnership, Firmament, with the assistance of the Founding Practices, has formed Vision Integrated Partners (“VIP”), an integrated management services organization serving the ophthalmology sector.
The Founding Practices, which are comprised of over 30 multi-specialty ophthalmologists and optometrists, have long-established roots in their local communities and a strong reputation for clinical expertise, research capabilities, preferential access to leading edge technology, and high-quality patient care. The Founding Practices’ nationally-renowned physician group specializes in comprehensive eye care services, including treatment for cataracts, corneal disease, retinal disease and glaucoma, as well as refractive surgery, oculoplastic surgery, neuro ophthalmology, and optometry.
VIP will be led by Jeff Walker, Chief Executive Officer, and Randall Shaw, Chief Financial Officer, who will be accompanied on VIP’s board of directors by four managing physicians from the Founding Practices and two members from The Firmament Group. Mr. Walker stated, “Vision Integrated Partners is a physician-owned and physician-led organization, and we plan to continue to partner with like-minded physicians who are focused on providing exceptional medical care in their respective markets. We are dedicated to empowering physicians in growing their practices by providing access to capital, professional management, and analytical support to maximize operational performance.”
Mr. Walker added, “Firmament brings significant resources, decades of experience and the expertise required to grow multi-site medical practices. This will enable Vision Integrated Partners to grow at a healthy pace and in a strategic fashion.” Parris Boyd, Principal at Firmament, commented, “Firmament is excited to partner with this group of physicians with a national reputation for high-quality patient care, and we look forward to supporting the accelerated growth of Vision Integrated Partners by adding ophthalmology leaders throughout the country.”
Lauren Steel, Vice President at Firmament, added, “Based on the seasoned management team at Vision Integrated Partners and the high caliber of physicians who will be the key decision makers, we firmly believe that we have established a unique, industry leading platform poised for success.”
Financing for the transaction was provided by Firmament and Cadence Bank.
About Vision Integrated Partners Vision Integrated Partners (www.vip-us.net) is a national eye care platform that was formed to empower physicians in growing their businesses by providing access to capital, professional management expertise, and analytical support to maximize operational performance. With ophthalmology practices located throughout California and Florida, VIP operates as an integrated management services organization, supporting over 30 multi-specialty ophthalmologists and optometrists throughout its footprint. VIP is dedicated to alleviate the growing number of non-medical requirements eye care practices face on a daily basis, allowing physicians to focus on providing the highest quality of medical care – Our Vision is to Improve Yours.
About The Firmament Group
Established in 2012, The Firmament Group (www.thefirmamentgroup.com), formerly known as McLarty Capital Partners, provides tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs). Firmament is a value added partner to entrepreneurs, management teams and business owners and provides solutions by deploying versatile capital in a user-friendly way. Firmament seeks both senior and junior debt capital opportunities including unitranche, second lien and mezzanine debt, and also provides equity capital structured as either preferred or common equity. Firmament is focused on turning small business into big business.