INSIGHT

Q3-2018 Ophthalmology Update

Investment activity in the third quarter was highlighted by two landmark private equity recapitalizations in the Tri-State area with SightMD and NJRetina each aligning with capital partners to execute on their respective growth initiatives. The willingness of private equity firms to invest in geographies with existing platforms indicates that the ophthalmology sector remains highly fragmented and attractive for investment. In the case of NJRetina, their recapitalization marks the first time a retina practice will serve as a platform investment for a private equity firm entering the subsector and represents the 20th private equity firm to invest into ophthalmology since 2014. With strategic consolidators keen on growing through acquisitions, Provident expects transaction volume, and in particular add-on acquisition volume, to remain at elevated levels for the foreseeable future.

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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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