LLR Partners has bought a trio of eye care and surgery services provider to create its new portfolio company Eye Health America.
The firm has bought The Eye Associates, Clemson Eye and Piedmont Surgery Center, while veteran industry executive Rod Roeser will join the Southeastern US-focused company as CEO.
Eye Health America will provide full-service eye care from routine eye exams, contact lenses and glasses to medical ophthalmology and surgery including cataract, cornea, retina, glaucoma, pediatrics and oculoplastics.
He said, “I am excited to launch Eye Health America in partnership with LLR and leading-edge organizations like The Eye Associates, Clemson Eye and Piedmont Surgery Center.
“As a combined force, we have the unique opportunity to not only expand each practice’s geographic footprint, increase their patient volumes and drive utilization, but also enable physicians to thrive in a value-based environment.”
LLR principal Sasank Aleti said, “We are excited to invest in Eye Health America and partner with leading eye care practices known for the highest standards of clinical care and patient satisfaction.
“As the market continues to consolidate, EHA aims to be the partner of choice to like-minded practices throughout the region seeking to accelerate growth and bring best in class care to patients.”
AltAssets revealed last month that LLR had pulled in $945m for its fifth flagship private equity fund, close to its $950m target.
It has not revealed whether the fund has since held a final close.
The Philadelphia-based firm typically provides growth capital to companies in the business services, education, fintech, healthcare, security and software industries, writing cheques of between $10m and $100m.
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