![]() ![]() Jefferies LLC acted as exclusive financial advisor to Varsity Healthcare Partners and Morgan Lewis & Bockius LLP provided legal counsel. This sale represents the second exit for Varsity Healthcare Partners I, VHP’s initial 2014 investment vehicle. There is a clear path for growth as an aging population will require more and better services in eye and vision care.” It is an undisputed leader in a burgeoning business model where there are few sizeable players. ![]() Paige Daly, managing director at Harvest Partners, added, “ESP is exactly what we look for in a partner company. With seven previous multi-site acquisitions in four years, Harvest is quite experienced in platform growth strategy, and we look forward to a long and fruitful partnership with Michael and his team to support the company’s consolidation goals.” “We are both delighted and honored that they chose Harvest for ESP’s next chapter of growth. ![]() “Given the company’s success, Michael Fricke and Varsity could have elected to partner with many private equity firms,” said Jay Wilkins, senior managing director at Harvest Partners. We are deeply grateful to ESP’s management and clinical partners, who are truly responsible for the success of this investment.” Advertisement I am excited now to work with Harvest as we look to attract the best physicians and continue to expand our network.”ĭavid Alpern, partner at Varsity, said, “Varsity has had a strong working relationship with ESP’s executive and clinical leadership over the past three years, beginning with the initial recapitalization of the Katzen Eye Group and having scaled now to 46 practice locations and seven ambulatory surgery centers across five states. Since its founding in May 2014, ESP has affiliated with over 20 practices.įricke said, “ESP has had an outstanding partnership with the Varsity team, resulting in tremendous growth in our managerial organization and clinical footprint. its assets to EPIC Systems Group, LLC an affiliate of Compass Group Equity Partners. ESP’s affiliated ophthalmologists and optometrists serve communities in California, Colorado, Delaware, Illinois and Maryland. Deal Announcement Clearview Capital recapitalizes Inventive Group. The company’s management team, led by CEO Michael Fricke and other doctor shareholders, will continue to lead ESP and will retain a significant stake in the company.Īdditional terms of the transaction were not disclosed.īased in Dallas, TX, ESP is the nation’s largest vertically integrated ophthalmologic services company. Harvest has acquired Varsity’s majority ownership interest in the company. (Press Release) NEW YORK - Harvest Partners LP, a New York-based private equity firm, and Varsity Healthcare Partners, a healthcare-focused private equity firm, announced that they have completed a recapitalization of EyeCare Services Partners Holdings LLC. ![]()
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