Woolfson Eye Institute goes on the block: sources

Woolfson Eye Institute, a provider of Lasik surgery, is up for sale, three sources said.

Coker Capital Advisors, a healthcare investment bank, is advising on the sale, people said. Woolfson produces $10 million to $12 million EBITDA, the people said. The company is expected to sell for 10x EBITDA, or $100 million, one source said.

Middle-market financial sponsors are expected to be interested in Woolfson, according to a banker who is not one of the three original sources.

Woolfson, Atlanta, offers laser vision correction, including Lasik, referral ophthalmology, cataract surgery and cosmetic eye procedures through nine offices in the Southeast. Jonathan Woolfson founded the company in 1986.

Private equity has invested in physician-practice-management models, including dental, dermatology and anesthesia.

Audax Private Equity owns Great Expressions Dental Centers, while three different PE firms have owned Smile Brands. ABRY Partners bought Dermatology Associates last year, while American Securities acquired North American Partners in Anesthesia in 2016.

Executives for Woolfson and Coker could not be reached for comment.

Action Item: Contact Dr. Woolfson: +1 404-236-6747

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