Q1-2019 Ophthalmology Update

Transaction volume in the first quarter of 2019 was primarily driven by add-on acquisition activity as both newly established and longer tenured private equity-backed platforms continue to aggressively pursue rollup strategies to accelerate growth. One notable transaction, which reflects a trend Provident expects to continue, is the newly formed partnership between Virginia Eye Consultants (VEC) and CEI Vision Partners (CVP), the parent company of Cincinnati Eye Institute. As strategic consolidators successfully build density in their core markets, Provident expects groups to establish regional hubs by way of sizable acquisitions in completely new markets. With over 20 private-equity backed organizations making acquisitions, transaction volume is expected to remain elevated throughout the balance of the year. ​

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Sources: SEC Filings; Company Press Releases, and Reports; IBISWorld; Capital IQ; PHP Estimates and Research. This document has been compiled with publicly available information. Provident Healthcare Partners, LLC makes no guarantee of its accuracy or completeness. No data or statement should be construed to be a recommendation for the purchase, sale, or retention of any security.
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