Olympus Partners announced it has agreed to sell the retina business of EyeSouth Partners for $1.1 billion, marking a significant transaction in the ophthalmology services sector. EyeSouth is an eye care-focused management services organization that partners with ophthalmologists and medical optometrists to deliver specialized medical and surgical care.
Following the transaction, Olympus Partners will retain ownership of EyeSouth’s anterior segment business, effectively separating the company’s anterior and posterior service lines into distinct ownership structures. The firm indicated that this strategic split reflects its view of the optimal long-term structure for the platform.
Under Olympus Partners’ ownership, EyeSouth has experienced substantial growth through a combination of organic expansion and acquisitions. Over the past three years, the company added more than 130 physicians and expanded into new geographic markets, including Michigan, North Carolina, and South Carolina.
Olympus Partners, a private equity firm managing over $12 billion in assets, focuses on middle-market investments across sectors including healthcare services, consumer products, and industrial services. The firm emphasized its continued commitment to EyeSouth’s ongoing growth through its retained ownership stake in the anterior segment business.
Support: The transaction also involves several financial and legal advisors. Jefferies served as financial advisor to EyeSouth and Olympus Partners, with legal counsel provided by Kirkland & Ellis. BofA Securities acted as lead financial advisor to Cencora, with Citi also advising, and Sidley Austin serving as legal advisor to Cencora.
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 at 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 of EyeSouth Partners
