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PE-backed Advancing Eyecare acquires Ophthalmic Instruments

Advancing Eyecare, which is backed by Atlantic Street Capital, has acquired Ophthalmic Instruments Inc, a distributor of ophthalmic instruments. No financial terms were disclosed.

PRESS RELEASE

NORFOLK, Va., Sept. 4, 2019 /PRNewswire/ — Advancing Eyecare, a leading U.S. distributor of ophthalmic instruments and high-tech instrumentation to ophthalmologists and optometrists, today announced the acquisition of Ophthalmic Instruments, Inc. (OII), a leading distributor of quality ophthalmic instruments.

Brad Staley, Chief Executive Officer of Advancing Eyecare, said, “Over the past 40 years the Shone family has built OII into one of the leading and most respected providers of ophthalmic instruments on the West Coast and we are pleased to have them become a vital part of the Advancing Eyecare family of brands. As we continue to further develop our national footprint we look forward to working with the talented and tenured professionals at OII to provide quality products and personal service to their clients.”

Advancing Eyecare was formed in 2019 by Atlantic Street Capital in partnership with Lombart Instrument and Marco Ophthalmic. The group is comprised of a powerful alliance of leading ophthalmic instrument providers in North America, including Lombart Instrument, INNOVA Medical Ophthalmics, Enhanced Medical Services, and Marco Ophthalmic.
Scott Shone, President of OII, said, “Learning from our father, Lou, who started the business 42+ years ago, we have continued to build the company based on his philosophy and focus of providing a comprehensive line of quality ophthalmic products supported by an experienced and knowledgeable service team. It is very exciting to be joining one of the leaders in the industry and we look forward to building our business in partnership with the Advancing Eyecare team of professionals.”
Advancing Eyecare recently announced the acquisition of Ophthalmic Instruments & Consulting Company, the leading expert and supplier of classical and diagnostic equipment in the Pacific Northwest.

About Ophthalmic Instruments, Inc.
Family owned and operated since 1977, Ophthalmic Instruments is the premier distributor of a comprehensive line of quality ophthalmic products, including Topcon, Haag-Streit, Reliance, Marco, Reichert and others, that are professionally installed and maintained with a personal touch. Founded on the simple principles of professionalism, honesty and integrity, the company prides itself in the retention of customers, repeat business and enthusiastic referrals from physicians, hospitals and clinics for over 40 years. With four physical locations strategically located in California, Arizona and Colorado, Ophthalmic Instruments provides its customers with professionally trained sales and field service representatives in eight states, including California, Arizona, Nevada, Utah, Colorado, Hawaii, New Mexico and Wyoming. These experienced representatives maintain frequent contact with the customers in their regions and bring problem solving skills and relevant information to the customers served. Visit https://oiica.com.

About Advancing Eyecare
Advancing Eyecare is a partnership of leaders in the eyecare instrumentation marketplace established to offer the best products and service solutions in the ophthalmic equipment industry. Currently comprised of Marco Ophthalmic, Lombart Instrument, Enhanced Medical Services (EMS), and INNOVA Medical, the combined scope of the organization has the broadest product portfolio, the most knowledgeable people, and the most reliable localized service in the industry. Advancing Eyecare is a wholly-owned portfolio company of Atlantic Street Capital, a private equity firm investing in middle market, fundamentally sound companies that will benefit from a partnership with ASC and value-added strategic and operational initiatives. For more information, visit www.advancingeyecare.com.