Candescent Partners acquires Eye Health Vision Centers

BOSTON-BASED PRIVATE EQUITY FIRM Candescent Partners has acquired Eye Health Vision Centers.
Posted 12/17/12

BOSTON – Candescent Partners, the private equity firm that purchased Koch Eye Associates in March, has acquired Dartmouth-based Eye Health Vision Centers.

Eye Health was founded by Dr. Stephen Sullivan in New Bedford nearly 40 years ago and has since grown to include five full-service vision and hearing centers and a surgery center.

“I am excited to now be a part of a much larger organization, and to partner with them in continuing to achieve the goals that I embarked upon years ago,” Sullivan, who plans to continue to care for patients, said in a statement adding: “Together we will be able to provide the most innovative care to help people see their very best.”

With the addition of Eye Health’s 24 doctors and 165-odd employees to Koch Eye Associates of Rhode Island, Candescent has formed one of the largest vision health companies in New England.

“We look forward to the integration of two of the largest comprehensive vision health companies in New England” said Sandy McGrath, managing partner of Candescent Partners. “The complementary strengths of Eye Health and Koch Eye Associates will provide an exceptional platform for setting the highest standards of care for vision health in the region.”

Candescent led the transaction with co-investors Eagle Private Capital LLC., First New England Capital, Bay Capital, Pine Street Capital Partners and Plexus Capital. Financial terms of the deal were not disclosed.

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