In one of the largest optometry deals to date, the merchant-banking division of Goldman Sachs Group (West Street Capital Partners VII) announced that it is buying Capital Vision Services, which operates 575 optometry practices, from private-equity firm Altas Partners LP and Canadian pension fund Caisse de dépôt et placement du Québec.
Terms of the deal were not disclosed, however The Wall Street Journal reported that the transaction is worth $2.7 billion, including debt, citing people familiar with the deal.
Capital Vision Services supports independent optometrists and practices affiliated with the optometry practice management company MyEyeDr. Capital Vision Services has grown to 575 practices in 18 states, up from 165 in seven states at the time it was bought by Toronto-based Altas Partners in 2015. Under the leadership of co-founder and Chief Executive Sue Downes, the company has expanded medical services, such as retinal imaging, and the variety of frames it offers to practices, according to the Wall Street Journal.
The deal is expected to close in the third quarter of 2019.