H.I.G. Capital News
Executive Managing Director
Kevin Van Culin
One Sansome Street
San Francisco, CA 94104
H.I.G. Capital Portfolio Company American Vision Partners Continues Strategic Expansion Through Partnership with Southwest Eye Institute
SAN FRANCISCO – March 11, 2021 – H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $43 billion of equity capital under management, announced today that its portfolio company, American Vision Partners (“AVP” or the “Company”), has entered into a strategic partnership with Southwest Eye Institute, based in El Paso, TX. The partnership will extend AVP’s footprint and serve as a platform for expansion into Texas and New Mexico with the region’s leading eye care practice.
Southwest Eye Institute, founded in 2004, is the largest eye care practice in El Paso, TX, with additional operations in Las Cruces, NM.
Southwest Eye Institute will continue to operate with no changes to its brand, existing providers or staff, and patients will continue to receive the highest quality care with the added support, technology, and equipment of AVP. The partnership will also provide patients with enhanced access to care through new location openings and additional sub-specialty coverage. Dr. Marc Ellman, who founded Southwest Eye Institute and will continue to lead the practice, stated, “Since the beginning, I have always had a simple motto for providing medical care, which is to treat every patient as if they were a family member. This partnership is going to allow us to continue to combine compassion with the best comprehensive eye care possible."
“Our team is very excited to work with the team at Southwest Eye Institute. We support their mission that focuses on patients and we look forward to partnering with them to provide even broader, stronger care to this new geographic region for AVP,” said Randy Dobbs, CEO of American Vision Partners.
Kevin Van Culin, Managing Director of H.I.G. Capital, commented, “We remain thrilled about the growth prospects of AVP, the leading eye care practice management organization in the Southwest. This partnership perfectly aligns with AVP’s strategy of growth through partnering with the highest quality physicians to provide excellent clinical care.”
The transaction with Southwest Eye Institute represents the eleventh partnership implemented by American Vision Partners.
Sheppard, Mullin, Richter & Hampton LLP and Proskauer Rose LLP provided legal advice, and Ernst & Young Capital Advisors served as the exclusive financial advisor to Southwest Eye Institute on the transaction. McDermott Will & Emery LLP provided legal advice to AVP and H.I.G.
About American Vision Partners
American Vision Partners (“AVP”) is one of the nation’s largest and fastest growing eye care physician services organizations. AVP serves communities throughout Arizona, Texas, New Mexico and Nevada with more than 130 nationally recognized doctors and 70 locations, including 23 ambulatory surgical centers and 25 satellite clinics. We partner with the most respected ophthalmology practices in the country and share a best-in-class management system, infrastructure and technology to provide the highest-quality patient care. Our partner practices, including Barnet Dulaney Perkins Eye Center, Southwestern Eye Center, Retinal Consultants of Arizona, M&M Eye Institute, Abrams Eye Institute, Havasu Eye Center and now Southwest Eye Institute, have on average been in practice for more than 30 years. For more information, please visit www.AmericanVisionPartners.com.
About Southwest Eye Institute
Southwest Eye Institute is dedicated to delivering the best possible medical and surgical eye care for patients in West Texas, Southern New Mexico, and Northern Mexico. They provide this care in the most compassionate manner possible, with the goal to always treat each patient the same way we would want our own family to be treated.
With locations in El Paso, Texas and Las Cruces, New Mexico, they take pride in serving their community with the latest technology, highly-regarded doctors and caring teams.
About H.I.G. Capital
H.I.G. is a leading alternative assets investment firm with $43 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.