Cortec Group, a New York-based private equity firm which invests in middle-market specialty healthcare, business-to-business and consumer products, and services businesses, announced that on July 6, 2017, Eye Academy Holdings, Inc. (Eyeconic Vision Partners” or EVP), a portfolio company of Cortec Group Fund VI, acquired Swagel-Wootton Hiatt Eye Center, Ltd. (SWH).
Terms of the transaction were not disclosed.
Based in the Phoenix metropolitan area, SWH operates two clinics and one ambulatory surgery center that are exclusively focused on the treatment of ophthalmic conditions. SWH has built a reputation as one of the leading ophthalmology service providers in the greater Phoenix market through its expert team of physician specialists, surgical and treatment technology, culture of high quality patient care, and comprehensive eye care treatments, with a focus on refractive cataract surgery and other advanced surgical care.
“SWH has a 55-year reputation for excellent service to the community, quality treatment outcomes and inspired doctors that care deeply for their patients and family members – we could not be more honored to grow with this amazing team," Ryan Heckman, CEO of EVP, said in a news release.
“Being a part of Eyeconic Vision Partners and its other leading practices in Colorado and Texas will allow us to focus more intensely on providing excellent patient care while offering growth opportunities to our entire team,” Drew Hiatt, MD, CEO of SWH, said in the news release. “I am looking forward to working with Ryan and the team at EVP who share our values for quality, integrity and devoted service to our community.”
The SWH acquisition represents EVP’s first acquisition since completing a recapitalization with Cortec Fund VI in December 2016.
Headquartered in Denver, EVP operates 13 clinics and 6 ambulatory surgery centers exclusively focused on the treatment of ophthalmic conditions. Eyeconic Vision Partners’ network includes locations in Colorado, Texas, and Arizona.