Imperial Capital Group announced the formation of Total Eye Care Partners (Total ECP) at the opening of Vision Expo West. Total ECP seeks to partner with optometrists and assist in the management of medically focused optometry practices across the country.
To launch the platform, the company recently completed its first business partnership with Gaddie Eye Centers of Louisville, KY, and closed on the acquisition of Gateway Professional Network's Coaching and Dispensing Management Program.
Members of the Total ECP executive team include:
* Bob Barton, President and CEO
* Dr. Ben Gaddie, Chief Medical Officer
* Dr. Paul Karpecki, Medical Director
* Jay Binkowitz, Executive Vice President, Business Strategy
Justin MacCormack, Partner and Head of Healthcare investing at Imperial Capital said, “Gaddie Eye Centers is a strong start toward achieving our goal of building a market leader in the practice of medical optometry. We are excited to partner with Dr. Gaddie in the creation of an industry leading business model that will help the Optometric Doctor flourish.”
“The current market environment in eye care is rapidly changing and we are positioning our organization to be the go-to platform for the future,” commented Dr. Ben Gaddie, adding that “there are many challenges in running a practice today and our colleagues are looking for options that allow them to continue practicing a high level of eye care services without compromising the patient experience.”
Dr. Paul Karpecki stated that “this rapid change is creating enormous opportunity as market forces shift and demand for eye care services increase. The need for highly skilled medical eye care providers will be significant and Total ECP partner doctors will be well prepared and ideally positioned to capitalize on this demand and more effectively serve our patients.”
“Total ECP plans to grow throughout the U.S., partnering with targeted individual practices and regional groups,” explained Bob Barton. “Total ECP will provide ODs with the unique opportunity to participate in the growth of the business while retaining clinic management and ownership, but without many of the day-to-day challenges faced by small businesses.”
“I am very excited by this opportunity,” stated Jay Binkowitz, “to witness the coming together of the best of the best from all areas of the industry to form a collaborative environment for optometry.”
The Total ECP team consists of key industry leaders and management professionals with successful backgrounds in all facets of the vision care industry. With a significant number of signed letters of intent with key optometric opinion leaders, the company expects to soon be making additional announcements regarding its plans for rapid growth.
About Imperial Capital Group
Imperial Capital Group is a Toronto-based private equity fund manager that focuses on buy-out opportunities in the Canadian and U.S. mid-market. Currently drawing from its sixth fund with commitments of $500 million, Imperial Capital invests in targeted industry niches within healthcare, business, and consumer services industries with revenues between $20 million and $250 million.
About Gaddie Eye Centers
Gaddie Eye Centers was founded in 1969 by Dr. Bruce Gaddie. For over 40 years, Gaddie Eye Centers has served the Louisville and surrounding areas by providing the highest quality in patient eye care. This tradition continued in 1999 when Dr. Ben Gaddie, the founder's son, joined the practice. Dr. Ben Gaddie is a key opinion leader in the optometric community, who directs and speaks on the optometric lecture tour. In connection with the transaction, Anne Kavanagh of Kavanagh Consulting provided financial advice to Gaddie Eye Centers.