US Eye Receives Growth Investment from Pamlico Capital
Strategic growth investment supports US Eye’s continued success as it enters a new phase of growth
Pamlico Capital (“Pamlico”) announced that it has completed a growth investment in US Eye, LLC (“US Eye”), a newly formed entity that combines two leading Florida-based eyecare platforms, Center for Sight and Montgomery Eye Center. Terms of the transaction were not disclosed.
Headquartered in Sarasota, Florida, US Eye will be led by Center for Sight founder and CEO Dr. David Shoemaker. Dr. Shoemaker founded Center for Sight more than 30 years ago, pioneering the vertically integrated ophthalmology-optometry care model that has delivered clinical excellence and leading patient outcomes. Dr. Shoemaker, a nationally recognized eye surgeon, has established a best-in-class team of providers and deep corporate infrastructure.
“This marks a new chapter for US Eye, and the next step in creating the leading eye care platform in the Southeast United States” said Dr. Shoemaker, Founder and CEO of US Eye. “Our mission is to deliver the highest quality eye care centered around superior technology, a comprehensive suite of services, and unsurpassed patient satisfaction. This partnership with Pamlico gives us the opportunity to accelerate our strategic growth plans.”
US Eye is partnering with Pamlico at an exciting time. The Company has established a strong footprint in the growing and attractive Sarasota market. In June 2019, US Eye completed a partnership with Montgomery Eye Center in Naples, providing entry into the attractive Naples market and further strengthening its presence in Florida.
“We are incredibly excited to partner with David and the rest of the management team,” said Brian Chambers, Pamlico Partner. “US Eye has built a great platform that employs world-class providers and delivers the highest quality patient care. We look forward to building upon this platform to increase US Eye’s presence in the eye care market and continue to expand its market presence in the Southeast.” Raj Parikh, Pamlico Vice President added, “We look forward to replicate the team’s success in Sarasota in new markets, bringing the same standard of provider quality and patient care that has come to define the Center for Sight brand over the past 30 years.”
US Eye was advised by William Blair & Company, L.L.C. (exclusive financial advisor) and McDermott Will & Emery LLP (legal advisor). Pamlico was advised by Alston & Bird LLP (legal advisor).
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: communications, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of approximately $4 billion. For additional information, please visit www.pamlicocapital.com.