BOSTON and LOS ANGELES, Jan. 12, 2021 /PRNewswire/ -- MidWest Eye Center ("MWEC"), a leading multispecialty ophthalmology provider in the Greater Cincinnati Tri-State Area, has affiliated with EyeSouth Partners ("EyeSouth"), a portfolio company of Shore Capital Partners ("Shore"). MWEC serves over 51,000 patients from 19 clinical locations and two ASCs. Provident Healthcare Partners (Provident) served as the exclusive financial advisor to MidWest Eye Center. The terms of the transaction were not disclosed.
"Choosing Provident to represent us was an excellent decision for MWEC. Provident listened to our diverse goals and was able to bring a wide range of partners to the table. They educated us on every step of the process and advised us on a fantastic partnership that ensures our employees, patients and community are taken care over the long run," stated Mark Cepela, President at MWEC.
Rex Adams, EyeSouth's CEO, continued "We are thrilled to welcome Midwest Eye Center to the EyeSouth network and appreciate the strong, professional support that the Provident team provided throughout the process."
"The owners had several attractive options presented to them through the process, and ultimately found the opportunity to serve as a regional platform with EyeSouth as the most compelling. EyeSouth, with the support of Shore, has built one of the most successful multispecialty eyecare groups in the country," noted Kevin Palamara, Managing Director at Provident.
Eric Major, Director at Provident, added "As a leading practice in the Greater Cincinnati Tri-State Area, MWEC is an ideal hub for EyeSouth's initial expansion into the Midwest."
About MidWest Eye Center
MWEC Center provides primary eye-care in addition to retina, glaucoma, cornea, oculoplastic and pediatric subspecialty care to many underserved areas throughout Southwest Ohio and Northern Kentucky. Comprised of 20 ophthalmologists and eight optometrists, MWEC offers a vertically integrated, multidisciplinary platform with a strong clinical reputation and trusted brand within the Cincinnati market. For additional information, visit https://midwesteyecenter.com/.
About EyeSouth Partners
Headquartered in Atlanta, Georgia, EyeSouth is an eye care management services organization committed to partnering with leading physicians to build a premier network of eye care services throughout the U.S. EyeSouth's affiliate network consists of 185+ doctors providing medical and surgical eye care services at approximately 105 locations throughout Georgia, Texas, Louisiana, Florida, Tennessee, Alabama, Ohio and Kentucky. For additional information, visit www.eyesouthpartners.com.
About Shore Capital Partners
Shore is a Chicago-based private equity firm focused on microcap healthcare and food & beverage investments. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has $1.1 billion of equity capital under management through various investment vehicles. For additional information, visit: https://shorecp.com/.
About Provident Healthcare Partners
Provident is a leading healthcare 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, including a significant track record of success within ophthalmology. Provident also has unsurpassed experience and insight into the M&A process, which includes working with a number of buyers such as private equity firms and strategic consolidators. For additional information, visit www.providenthp.com.
Provident Healthcare Partners
SOURCE Provident Healthcare Partners LLC