CEI Vision Partners acquires surgical ophthalmology group — 5 details

Cincinnati-based CEI Vision Partners acquired Toledo, Ohio-based surgical practice Retina Vitreous Associates for an undisclosed amount, the Cincinnati Business Courier reports.

What you should know:

1. RVA employs nine ophthalmologists specializing in medical and surgical retinal disorders. With 62 employees, it operates 10 locations in Ohio.

2. The acquisition enables RVA to reach more than 60 percent of Ohio residents. It brings CVP's workforce to 65 medical physicians and about 20 optometrists.

3. RVA's ophthalmologists will become CVP shareholders, CVP CEO Clyde Bell told the Cincinnati Business Courier. RVA staff will become employees.

4. This is CVP's third acquisition since its 2018 establishment by Cincinnati Eye Institute and a private equity firm. The management services organization previously acquired Dayton (Ohio) Eye Associates and Retina Physicians & Surgeons of Dayton.

5. CVP primarily operates in Ohio with locations in Northern Kentucky and Indiana, but plans to expand.

"I think you'll see us continue to build our presence in Ohio and the Midwest and possibly even moving into other regions in the future," Mr. Bell told the Cincinnati Business Courier. "We have active deals that we're working."

More articles on transactions/valuation:
Healthcare investment firm Edgemont Capital Partners rebrands — 3 key facts
USPI has ownership in 5% of ASCs in US, plans to invest $150M-$175M in 2019 acquisitions: 5 things to know
Eyecare Service Partners Surgery Center and Medical Facility sold to Healthcap Partners

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