CVP Adds Fifth Partner Practice
February 5, 2019
CINCINNATI–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/healthcare?src=hash” target=”_blank”gt;#healthcarelt;/agt;–CEI Vision Partners (“CVP”), a portfolio company of Revelstoke Capital
Partners LLC (“Revelstoke”), a Denver-based private equity firm, has
completed a partnership with Virginia Eye Consultants (“VEC”), a premier
multi-specialty ophthalmology group comprised of 17 providers that
service the Norfolk, Virginia Beach and Chesapeake markets through four
clinic locations and an ambulatory surgery center.
CVP’s goal is to be the premier ophthalmology management services
organization in the country. VEC provides CVP a new region to pursue
additional partnerships and growth opportunities. VEC is the fifth
practice to partner with CVP since its formation in May 2018 in
partnership with Cincinnati Eye Institute and Revelstoke; Dayton Eye
Associates and Retina Physicians and Surgeons joined the platform in
October 2018 and Retina Vitreous Associates joined in December 2018.
CVP’s partner practices have more than 100 industry-leading providers
across all major sub-specialties in ophthalmology working in 30 clinical
centers and multiple ambulatory surgical centers in two major geographic
regions: Midwest (currently Ohio, Kentucky and Indiana) and Mid-Atlantic
(currently Virginia).
“With Virginia Eye Consultants joining CVP, we now offer a dual platform
business model to grow ophthalmology practices in the Midwest and the
Mid-Atlantic regions,” said Clyde Bell, CEO of CVP. “VEC is well
established with a strong reputation for providing surgical services in
multiple specialties with the highest level of patient care. By
partnering with VEC, CVP is able to reach additional markets and expand
patient access to top ophthalmologists.”
“State-of-the-art surgical and medical eye care delivery will thrive in
the hands of practices that embrace change,” said John D. Sheppard,
M.D., M.M.Sc., President of Virginia Eye Consultants. “Burgeoning
technology and our specialty’s indefatigable innovative spirit promise
continued advances for patients, yet we must prepare to deliver those
services in the face of increased regulatory obligations. United as CVP,
we are now among the largest groups in the nation and a dual-regional
platform venture, pairing like-minded regionally influential practices.
We have a team of outstandingly progressive business minds, critical
mass creating significant economies of scale, and a growth model for
enhanced collaborative clinical excellence. Together as industry
leaders, we will forge into a challenging future with certainty and
purpose.”
“CVP’s expansion has been impressive but our goal is not to be the
biggest in the industry – our strategy is to be the best ophthalmology
management services organization by partnering with premier practices in
targeted regions. The interest we have received from leading Midwest
groups in joining our platform has been phenomenal and we are excited to
replicate and extend this strategy in the Mid-Atlantic region,” said
Andrew Welch, Managing Director at Revelstoke.
McGuireWoods LLP acted as legal counsel to CVP.
About CVP
CEI Vision Partners (“CVP”) is a premier ophthalmology management
services organization formed in partnership with Cincinnati Eye
Institute, one of the nation’s largest ophthalmology practices, and
Revelstoke Capital Partners, a Denver-based private equity firm in May
2018. CVP’s partner practices feature more than 100 industry-leading
providers across all major sub-specialties in ophthalmology and
optometry. CVP strives to attract best-in-class physicians and staff and
deliver the highest quality eye care in the industry. www.cvphealth.com
About Revelstoke
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
$1.2 billion of equity and has completed 53 acquisitions, which includes
13 platform companies and 40 add-on acquisitions. www.revelstokecp.com
Contacts
Kylee Karst (303) 953-3226