Leading Optometric Service Provider Continues Rapid Expansion Across Northeast
Beverly Capital, a Los Angeles-based private equity firm, announced today that it has acquired The Eye Health Group, a New Jersey-based medical optometric service provider.
The Eye Health Group is a leading vision support organization that assists its nine New Jersey and New York practice providers in performing comprehensive eyecare services. The Eye Health Group provides a full suite of medical eyecare services, from diagnosis and management of eye diseases to pathology, lab testing and pre- and post-operative care for surgical patients, as well as prescribing and dispensing contact lenses and vision corrective glasses. The Eye Health Group’s management team will remain involved in the operations of the business.
"At Beverly Capital, we focus on bringing growth capital and operational excellence to the companies in which we invest," said Daniel Rudyak, Managing Director, Beverly Capital. "We see an opportunity to build upon this platform investment with additional acquisitions of eye health practices along the East Coast. We look forward to working with The Eye Health Group to help it scale, innovate and continue to succeed in the years ahead."
Beverly Capital was joined in the investment by Everside Capital Partners, a New York-based investment firm, and Merion Investment Partners, a Pennsylvania-based investment firm.
"The Covid pandemic has accelerated change in the optometry sector. A patient-centric model, robust medical offerings, and large regional footprint will be needed to thrive in the future," said Dr. Randy Nissinoff, CEO, The Eye Health Group. "We are proud of the tremendous care and compassion provided by the significantly growing number of optometric doctors that The Eye Health Group supports, and are excited about our new partnership with Beverly Capital, providing us an ability to expedite our growth across the Northeast."
About Beverly Capital
Based in Los Angeles, with offices in New York, Beverly Capital is a private equity firm that invests in market-leading North American companies with annual revenue generally ranging from $20 million to $120 million. Beverly Capital is a disciplined control investor, focused on driving operational enhancement alongside its operating partners. For more information, please visit: www.beverlycapital.com.
About Everside Capital Partners
Everside Capital Partners, LLC, an SEC Registered Investment Adviser, is a New York based asset management firm focused exclusively on the lower middle market (defined as businesses with $3-20 million in EBITDA). The firm is led by a team with extensive backgrounds in credit, direct investing and origination from top global institutions and manages over $400 million in assets. For more information, please visit: www.everside.com.
About Merion Investment Partners
Merion Investment Partners is a family of mezzanine capital funds that invests subordinated debt with equity features in companies that have strong growth potential, proven management teams, a strategic competitive advantage and/or is operating in sectors of the economy that are poised to exhibit growth such as healthcare. For more information, please visit: www.merionpartners.com.
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