DENVER--(BUSINESS WIRE)--Revelstoke Capital Partners (“Revelstoke”), a Denver-based private equity firm, announced today a strategic partnership with Cincinnati Eye Institute (“CEI”), one of the largest and most highly-regarded ophthalmology practices in the country. Revelstoke and CEI have formed CEI Vision Partners, a management services organization, to support CEI’s growth and pursue additional partnerships with other leading ophthalmology providers.
CEI is the only practice in the region that offers “front-to-back” eye care and has leading physicians across all major sub-specialties. CEI completes over 200,000 annual patient encounters and over 25,000 annual surgical procedures across 14 clinics and three ambulatory surgical centers.
“After a multi-year outbound search in the vision care sector, we are very excited to partner with such an impressive group of physicians and management to launch CEI Vision Partners, which marks our first investment in Revelstoke Capital Partners Fund II,” said Simon Bachleda, Managing Partner at Revelstoke.
CEI’s physician shareholders will retain ownership through CEI Vision Partners and, along with the over 650 existing employees, will continue in their current roles.
“CEI has over 60 doctors who are leaders in ophthalmic care, surgery and research and have a national reputation for providing the highest quality of patient care in the industry,” said Eric Shuey, Managing Director at Revelstoke.
“CEI Vision Partners is a true platform in the industry – Clyde Bell, Chief Executive Officer of CEI Vision Partners, and his management team have a differentiated relationship with the CEI’s physicians and, collectively, they have developed impressive infrastructure and capabilities to support and grow their operations,” said Andrew Welch, Managing Director at Revelstoke.
“The strategic and healthcare expertise that Revelstoke brings will enable us to accelerate our growth while maintaining the highest levels of compassionate patient care,” said Clyde Bell. “We are thrilled to partner with such an experienced team of investors committed to building industry-leading companies and enhancing the patient experience.”
McGuireWoods LLP acted as legal counsel and Houlihan Lokey acted as financial advisor to Revelstoke. Proskauer Rose LLP acted as legal counsel and ZD Management, Inc acted as a consultant to CEI.
For more than 70 years, CEI has compassionately provided the highest level of medical and surgical eye care that has enhanced the quality of our patients’ lives. Founded in 1945 by Morris Osher, M.D., CEI has grown to become the largest ophthalmology organization in the region with more than 60 practicing ophthalmologists and optometrists. CEI maintains 14 clinical centers and three ambulatory surgical centers. CEI will continue to strive to be nationally recognized as the first and best choice for medical and surgical eye care.
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare and related business services sectors. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy to build exceptional companies. Since the firm’s inception in mid-2013, Revelstoke has raised approximately $1.1 billion of equity and has completed 44 acquisitions, which includes 11 platform companies and 33 add-on acquisitions.