Olympus Partners has agreed to sell the retina business of EyeSouth Partners (“EyeSouth”) to Cencora, Inc. for $1.1 billion. EyeSouth is an eye-care focused management services organization committed to partnering with leading ophthalmologists and medical optometrists with a mission of delivering high-quality medical and surgical specialty eye care. Following the transaction, Olympus Partners will retain ownership of the Anterior segment of the business.
Under Olympus’ ownership, EyeSouth has achieved significant growth through both organic initiatives and strategic acquisitions. Over the past three years, EyeSouth has increased its physician base by more than 130 doctors, and expanded into three new states..
“We are immensely proud of Rex and the team for growing the business while remaining a patient-first, physician-led, medically focused ophthalmology platform,” said Griffin Barstis, Partner at Olympus Partners. “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.”
“Our partnership with Olympus has been transformational,” said Rex Adams, Chief Executive Officer of EyeSouth Partners. “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.”
The Olympus team included Griffin Barstis, Jim Conroy, Sam Greenberg, Heather Deng, and Lester Coleman. EyeSouth and Olympus were advised by Jefferies LLC as financial advisor and by Matt Goulding and Matt Dunnet from Kirkland & Ellis LLP. Cencora was advised by Bank of America as financial advisor.