Magruder Eye Institute and Chicago Pacific Founders Launch Strategic Growth Partnership via Ascend Vision Partners

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Aug 16, 2022, 15:30 ET

ORLANDO, Fla. and CHICAGO, Aug. 16, 2022 /PRNewswire/ -- Chicago Pacific Founders ("CPF"), an investment adviser that manages private equity funds, focused exclusively in value-based care innovation, healthcare services, and AI and tech enabled healthcare services with offices in Chicago and San Francisco, is pleased to announce that it, along with Magruder Eye Institute ("MEI") and Robson Eye Institute ("REI"; together with MEI, the "Practices"), has formed Ascend Vision Partners ("AVP" or the "Company"). As a result of the partnership, AVP becomes the administrative services provider to the Practices and Lakeside Surgery Center.

Founded in 1973, Magruder Eye Institute is a premier comprehensive ophthalmology provider in Central Florida with a longstanding reputation for providing clinically-excellent care to a diverse collection of patients within its communities. MEI recently launched Robson Eye Institute to expand its reach to patients in the Tampa / St. Petersburg / Clearwater area, bringing its total combined clinical / surgical locations and providers to eight and twelve, respectively. The Practices' Partners, including John Beneke, M.D., Donald Centner, M.D., Michael Graham, M.D., John Lehr, M.D., and Michael Pohlod, M.D., will retain ownership through AVP, enabling the Practices to remain physician-owned and continuing to provide care through their patient-centric model.

"I am thrilled to be a founder of AVP and welcome CPF as our new partner," remarked Dr. Lehr. "My partners and I are ecstatic about CPF's unique approach with founders and clinicians, and their track record of driving rapid growth and value creation."

"Our firm and team have deep experience in ophthalmology, including discussions with over 350 practices dating back to the start of this recent wave of consolidation," commented Vance Vanier, M.D., Co-Founder and Managing Partner of CPF and Chairman of AVP. "As a result, we've had the privilege of being selective in our outbound search and feel quite fortunate to partner with such a dynamic group of clinical leaders within an established practice."

Mary Tolan, a Founder and Managing Partner of CPF and Board Member of AVP added, "this is a clear example of leaders working with leaders to solidify a legacy of clinical quality, while expanding reach through affiliations with additional like-minded ophthalmologists, referral sources, and payers across the Southeastern region."

As part of establishing AVP and laying the foundation for rapid, risk-adjusted growth, the Practices' shareholders and CPF recruited Justin Simoncini to join as AVP's Chief Executive Officer. Mr. Simoncini brings almost 20 years of healthcare experience. He most recently served as Chief Strategy Officer of Advanced Dermatology and Cosmetic Surgery, a leading dermatology practice management company with over 150 locations and over 300 providers. Prior to his time with Advanced Dermatology and Cosmetic Surgery, Mr. Simoncini served as a Global Vice President with Cardinal Health.

Mr. Simoncini remarked, "The opportunity to partner with such a talented group of clinicians and leading practices is not one that comes along very often. I'm excited to help the Practices' shareholders create the leading ophthalmology practice management platform by combining their track record of clinical excellence while leveraging CPF's expertise in ophthalmology, demonstrated successes in other provider-based partnerships, and deep value-based care relationships."

Patients and referring providers should expect no changes to the Practices' providers and patient-centric care model. Going forward, the Practices expect to add providers across all sub-specialties and expand their service area across Florida and the broader Southeastern region. The Practices' physicians will continue in their current roles with the organization, while maintaining a significant ownership interest in AVP with CPF.

About Magruder Eye Institute
For more than 50 years, Magruder Eye Institute has compassionately provided superior levels of comprehensive medical and surgical eye care to a diverse patient base. MEI is Central Florida's premier provider of ophthalmologic services, with providers spanning six convenient locations. Its team of eye doctors and surgeons specialize in areas such as laser cataract surgery, diabetic retinopathy, glaucoma management and treatment, corneal surgery, macular degeneration, dry eyes and eyelid surgery. For more information, visit www.magrudereye.com.

About Robson Eye Institute
Robson Eye Institute is proud to provide the Greater Tampa Bay Area with exceptional eye care through two convenient locations in Clearwater and Palm Harbor. Its team of eye doctors and surgeons specialize in areas such as laser cataract surgery, diabetic retinopathy, glaucoma management and treatment, corneal surgery, macular degeneration, dry eyes and eyelid surgery.

For more information, visit www.robsoneye.com.

About Ascend Vision Partners
Ascend Vision Partners is a leading administrative services provider for eye care practices, surgery centers and their providers. It provides its clients with world-class administrative services, including call center, billing, credentialing, human resources, and other services, enabling them to continue delivering best-in-class care to patients in their communities. Ascend Vision Partners is backed by Chicago Pacific Founders, a leading middle market private equity firm which focuses exclusively on partnerships with growing companies in the healthcare services sector. For more information, please visit http://www.ascendvision.com.

About Chicago Pacific Founders
Chicago Pacific Founders is a leading investment advisor that manages private funds, focusing exclusively on investments in growth companies within value-based care innovation, healthcare services, and AI and tech enabled healthcare services, and caring for aging populations. CPF believes that the most significant societal impact and investment returns from healthcare for the next decade will be generated by investment in delivery model innovation. CPF's leadership team is made up of former healthcare CEOs, senior executives and investment professionals with a passion and track record of building healthcare businesses. For more information, please visit www.cpfounders.com.

SOURCE Chicago Pacific Founders