Olympus Partners has agreed to sell the retina business of EyeSouth Partners for $1.1 billion, marking a significant transaction in the specialty healthcare services sector.
EyeSouth operates as an eye-care focused management services organization that partners with ophthalmologists and medical optometrists to deliver medical and surgical eye care. Following the transaction, Olympus will retain ownership of EyeSouth’s anterior segment business, effectively splitting the company’s operations between anterior and posterior eye care segments.
Under Olympus’ ownership, EyeSouth has experienced substantial expansion through both organic growth and acquisitions. Over the past three years, the platform has added more than 130 physicians and expanded into additional states, including Michigan, North Carolina, and South Carolina.
The transaction reflects a strategic decision to separate the business into distinct segments to optimize long-term growth and operational focus. Financial advisory roles in the deal included Jefferies LLC advising EyeSouth and Olympus, while BofA Securities and Citi advised Cencora. Legal counsel was provided by Kirkland & Ellis LLP and Sidley Austin LLP.
Olympus Partners, founded in 1988, manages over $12 billion in assets and focuses on middle-market investments across sectors including healthcare services, business services, and consumer products.
KEY QUOTES:
“We are immensely proud of Rex and the team for growing the business while remaining a patient-first, physician-led, medically focused ophthalmology platform. Over the past several years, it became clear to our team that the optimal long-term structure for EyeSouth would involve separate ownership of the anterior and posterior segments. We look forward to continuing our strong relationship with the team as they build on their momentum.”
Griffin Barstis, Partner, Olympus Partners
“Our partnership with Olympus has been transformational. We are excited to continue working alongside Olympus as we continue to grow the platform while remaining focused on delivering outstanding care for our patients and supporting our physicians.”
Rex Adams, Chief Executive Officer, EyeSouth Partners
