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VonLehman’s M&A Team Assist with Large Healthcare Practice Acquisition

10/24/2019 Keith Carlson & Ely Friedman

Cincinnati based ophthalmology group, APEX Eye, has announced the sale of their physician practice to CEI Vision Partners (CVP), a management services organization created by Cincinnati Eye Institute (CEI). CVP, backed by Private Equity firm, Revelstoke Capital Partners, employs nearly 1,110 employees, including 750 in Greater Cincinnati.

VonLehman M&A Advisory Group was engaged by APEX Eye as the practice’s exclusive M&A advisor for the execution of their comprehensive M&A process which resulted in their sale to CEI. Keith Carlson, Managing Director of VonLehman M&A Advisory Services, led the transaction process for APEX Eye.

“Due to the excitement and demand generated during the process amongst various buying parties, APEX Eye shareholders were able to earn a premium valuation for their practice relative to their size and standing within the ophthalmology ecosystem,” said Carlson.

VonLehman’s advisory services included: valuation advisory, generating partner demand, non-binding offer negotiation, post-non-binding offer negotiation, leading the broader due diligence process and the management of transaction assignments for all critical deal team members.

APEX Eye’s staff of 115 has been retained by CEI Vision Partners, including the practice’s ophthalmologists, who are now partners in the local management services organization. Although financial terms have not been disclosed, CVP is one of the largest Cincinnati based private companies based on their sales of $180 million in 2018.

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