Gauge Capital has acquired Comprehensive EyeCare Partners, a vision care management services organization. As part of the transaction, the company’s physician and executive management teams will retain a significant ownership interest in CompEye in partnership with Gauge Capital.
Comprehensive EyeCare (CompEye) provides practice management and administrative services to over 30 ophthalmologists, 16 clinics and two ambulatory surgery centers across three practices: Nevada Eye Physicians, New Eyes and Shepherd Eye Center. The company is led by its CEO Bill Moore and is headquartered in Las Vegas (www.nevadaeyephysicians.com) (www.neweyeslasvegas.com) (www.shepherdeye.com).
“The practices and physicians affiliated with CompEye are focused on the highest standards of patient care and regulatory compliance. These practices have delivered impressive growth and a highly satisfied patient base in the Nevada market, and we are delighted that they have chosen Gauge as their partner for the next chapter of expansion at CompEye,” said Whitney Bowman, a Partner at Gauge.
Gauge Capital invests from $10 million to $40 million in North American-based companies that have $5 million to $30 million of EBITDA. Typical transaction types include buy-outs, recapitalizations, divestitures, privatizations, consolidations, and growth capital investments. Sectors of interest include healthcare services, business services, consumer and food. The firm will consider both majority and minority investments. Gauge Capital is based near Dallas in Southlake, TX (www.gaugecapital.com).
“We are very pleased to partner with the leadership team and physician shareholders at CompEye to support their continued growth and success,” said Daniel Gedney, a Senior Vice President at Gauge. “CompEye is actively seeking to partner with additional high-performing, like-minded ophthalmology groups, both in the Southwest and across the country.”
Franklin, TN-based investment bank Brentwood Capital Advisors was the financial advisor to CompEye. Brentwood Capital Partners LP II, a $42 million private equity fund affiliated with Brentwood Capital Advisors, co-invested alongside Gauge in the transaction.
“CompEye’s longstanding track record of best-in-class clinical care and experience managing at-risk payer contracts presented a highly attractive opportunity for investors,” said L.A. Galyon, a Managing Director at Brentwood Capital Advisors. “Ophthalmology represents a growing segment of BCA’s physician services practice, and we were pleased to work with Bill Moore and the practice leaders to serve as CompEye’s exclusive financial advisor in this important transaction”.
© 2018 Private Equity Professional | February 23, 2018