Quantum Vision Centers (“Quantum”) has been acquired by Clarkson Eyecare, a portfolio company of Friedman Fleischer & Lowe, LLC. Quantum Vision Centers is a provider of primary eye care services, surgical eye care services, complete optical services, and optometric co-management services throughout 20 locations in Illinois and Missouri. Provident Healthcare Partners served as exclusive financial advisor to Quantum Vision. The terms of the transaction were not disclosed.
“Quantum has become the go-to practice for patients seeking high quality surgical eye care services with the latest technologies in the Metro East and Southern Illinois markets. The partnership with Clarkson positions the combined organization to be a one-stop shop for all vision care needs for patients in the greater St. Louis area,” noted Eric Major, Senior Associate at Provident Healthcare Partners.
“Pursuing an outside partnership is an incredibly daunting experience. Having Provident with me at every step was like having a friend by my side to guide me through this process. Not only are they extremely knowledgeable, but they are also very personable. I will continue to strongly recommend Provident to my colleagues looking to pursue strategic options in the market. I could not have done it without them,” stated Dr. Michael Jones.
Dr. Jones added, “I’m pleased to announce that Quantum Vision Centers has been acquired by FFL Partners through its portfolio company, Clarkson Eyecare. Quantum is known for bringing excellent surgical care to the patients of metro St. Louis and Southern Illinois for 30 years. It was a natural fit for us to join forces with Clarkson, well known for their expertise in optometry. Now we can truly offer patients the best of both worlds, and provide eye care for all conditions. I want to thank our staff, the staff at Clarkson, and our partners at Provident for making this deal happen. We look forward to continuing to provide cutting edge eye care to the patients of St. Louis and beyond.”
About Quantum Vision Centers
Quantum Vision Centers, previously known as Illinois Eye Surgeons, provides a full coverage of vision care services through its ophthalmologists, optometrists, and opticians, from simple eye exams to complex surgery using the very latest technology. Subspecialty coverage includes in-house retina, oculoplastics, glaucoma, cornea/external disease, pediatric and refractive services. The Company operates out of independent clinics, as well as ambulatory surgery centers and hospital-based facilities throughout Illinois, and one location in Missouri. For more information, please visit http://illinoiseye.com/.
About Clarkson Eyecare
Based in St. Louis, and founded in 1979 by Dr. Lawrence Jehling, Clarkson Eyecare currently offers comprehensive medical eye care services at more than 80 offices located throughout Missouri, Southern Illinois, Ohio and Northern Kentucky. Clarkson serves the vision care needs of over 180,000 patients annually and offers ophthalmological and LASIK service, and an integrated full service lab. Clarkson’s “Eyecare360” software has been specifically designed for the optical retail industry and has benefited from years of feedback from Clarkson optometrists, opticians and office staff. For more information, visit www.ClarksonEyecare.com.
About Friedman Fleischer & Lowe, LLC
Friedman Fleischer & Lowe, LLC is a San Francisco-based private equity firm with approximately $2.5 billion under management that is focused on investing in U.S. middle-market companies. Formed in 1998, FFL’s strategy is to invest in companies where the substantial strategic and operating expertise of FFL’s principals can help management improve margins, make acquisitions and grow earnings. FFL’s targeted sectors include consumer products, financial services, outsourced business services, education, healthcare and marketing and media. For more information on Friedman Fleischer & Lowe, visit www.fflpartners.com.
About Provident Healthcare Partners
Provident is the leading investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation for middle-market and emerging growth healthcare companies. The firm has a vast network of high-level, senior industry contacts, a thorough knowledge of market sectors and specialties, and unsurpassed experience and insight into the M&A process. Provident uncovers value and opportunities that others often overlook to create transaction premiums for its clients. For more information, visit the Provident website www.providenthp.com.
Contact: Provident Healthcare Partners
Gina Casiello, Senior Analyst