Cincinnati-based CEI Vision Partners, the Midwest’s leading eye care specialists, has been acquired by EyeCare partners through a co-investment partnership facilitated by Hauser Private Equity.
Mark Hauser, the managing partner of Hauser Private Equity, believes that medical practices in the Midwest region represent a massive opportunity. “The acquisition by EyeCare speaks to the strength of the investment and the market power of Cincinnati businesses,” Hauser stated when asked about the financial details of the agreement.
“We are thrilled with this outcome for the employee partners of CEI Vision and for the investors In Hauser Private Equity Core Fund III,” Paul Swanson, co-managing partner of Hauser Private Equity, stated in an interview. Upon the success of Hauser Private Equity’s co-investment with Denver-based Revelstoke Capital Partners in OrthoAlliance and DataLink, the firm is seeking to make additional investments in healthcare.
EyeCare Partners is the largest group of eye care providers in the United States. The St. Louis-based practice group operates in 18 states with more than 150 doctors in their network who specialize in every aspect of ophthalmology and optometry. EyeCare Partners is also owned by Partners Group Holding AG, a private equity firm based in Switzerland.
CEI Vision Partners was founded in 2018 as a result of Revelstoke Capital Partners’ co-investment with the Cincinnati Eye Institute that provided the opportunities needed to create partnerships with leading ophthalmology providers in the region.
Upon acquiring CEI Vision Partners, the practice network now expects to serve more than 3 million patients annually. CEI Vision Partners grew as a result of significant capital injections and an aggressive growth strategy with multiple acquisitions of local and regional eye care practices, like Dayton Eye Associates. With doctors and clinicians in Ohio, Kentucky, Indiana, and Virginia working out of more than 50 different facilities, CEI Vision Partners is pleased with the co-investment from Hauser Private Equity and in beginning their work with EyeCare Partners.
“As soon as we initiated the conversation with EyeCare Partners, it was apparent that together, our organizations’ strengths and mission-driven cultures will expand on our ability to provide the highest level of vision care for our patients and better opportunities for our doctors and team members,” CEI Vision Partners CEO Clyde Bell stated.