Unifeye Vision Partners, a portfolio company of Waud Capital Partners, has recapitalized Pacific Eye Institute, a California-based provider of vision care services. No financial terms were disclosed. Provident Healthcare Partners provided financial advice to PEI on the transaction.
BOSTON and LOS ANGELES, March 5, 2018 /PRNewswire/ — Pacific Eye Institute (“PEI”) completed a recapitalization with Unifeye Vision Partners (“UVP”), a portfolio company of Waud Capital Partners. PEI is a leading provider of vision care services within the Inland Empire of Southern California, operating across six clinical locations and one ambulatory surgery center.
Founded over 30 years ago by Dr. Bob Fabricant, PEI has grown into a distinguished team of 17 ophthalmologists and six optometrists. Provident Healthcare Partners (“Provident”) served as exclusive financial advisor to Pacific Eye Institute. The terms of the transaction were not disclosed.
“PEI is led by three highly entrepreneurial physicians who are motivated to expand the practice’s already sizeable footprint and leading ophthalmology services into adjacent markets in Southern California,” commented Eric Major, Vice President at Provident. “UVP is the perfect partner for PEI, allowing the organization to retain its local governance while also sharing the same vision of becoming a preeminent vision care provider in the region.”
“Provident is comprised of an excellent team of advisors and applies a methodical approach to finding the right partner for its clients,” stated Jesse A. Dovich, M.D., a Managing Partner with PEI. “Each ophthalmology practice is different, as is each private equity group; Provident took the time to fully understand what makes our practice unique and then paired us with a like-minded private equity firm while always keeping our best interests in mind. The team provided guidance and support during this transition and never once put pressure on us to partner with a group if we felt uncomfortable.”
About Pacific Eye Institute
Founded in 1981, PEI is a comprehensive ophthalmic care provider in the Inland Empire with locations serving Rancho Cucamonga, Victorville, Temecula, Eastvale, and Upland. This includes “The Ambulatory Surgery Center”, a modern 9,200 square foot facility with two state-of-the-art surgical suites and a laser center. These facilities provide the highest quality vision care for the treatment of ocular conditions in a comfortable outpatient environment. For more information, visit www.pacificeyelaser.com.
About Provident Healthcare Partners
Provident is the leading investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation for healthcare companies. The firm has a comprehensive knowledge of market sectors and specialties, and unsurpassed experience and insight into the M&A process. For more information, visit www.providenthp.com.