Palmetto Retina Center, comprised of five retina specialists across six offices serving South Carolina, has partnered with Retina Consultants of America (RCA), a portfolio company of Webster Equity Partners. This is the seventh leading retina specialty practice to join RCA as the organization continues its expansion across the U.S. Provident Healthcare Partners (Provident) served as exclusive financial advisor to Palmetto Retina Center. The terms of the transaction were not disclosed.
"We could not be happier with the Provident team as they helped guide us through the complex process of partnering with RCA. As experts in healthcare, they could look at the various candidates critically, accurately analyze our business operations, and position us most favorably for negotiations. Where Provident really adds value is in the final stages of the transaction. Diligence is a daunting process, and Provident led the various teams through to a positive conclusion. I could not recommend Provident more highly if you are looking for transaction advisors in healthcare," noted Dr. Lloyd Clark, Partner at Palmetto Retina Center.
"The addition of Palmetto Retina Center to the Retina Consultants of America platform adds another group of market leading retina specialists in a new region. Palmetto's alliance with RCA will allow them to continue to provide superior patient care and clinical research in existing geographies as well as assist them in expansion into the highly fragmented Southeast retina market," stated Michael Patton, Managing Director at Provident.
"The physicians at Palmetto Retina Center have developed a leading clinical reputation nationally as a provider of retina services and clinical research. The partnership with Retina Consultants of America adds to the growing national network of premier retina practices at RCA," commented Eric Major, Director at Provident.
About Retina Consultants of America
Retina Consultants of America is a network of leading retina specialists with the mission of saving sight and improving patient lives through innovation and the highest quality care. Through RCA's physician-centered practice management model, physicians continue to drive clinical care and practice culture, while benefitting from the business expertise, resources and shared best practices available through RCA. For additional information, visit www.retinaconsultantsofamerica.com
About Palmetto Retina Center
Palmetto Retina Center, LLC (PRC) was founded in 2001 and serves central South Carolina. Its physicians offer comprehensive and state of the art care in the treatment of vitreous and retinal diseases. PRC is involved in numerous clinical trials and is dedicated to the advancement of new therapies for retinal diseases. For additional information, visit http://www.palmettoretina.com/.
About Provident Healthcare Partners
Provident is the leading investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation for healthcare companies. The firm has a comprehensive knowledge of market sectors and specialties, including within eye care services. Provident also has unsurpassed experience and insight into the M&A process, which includes working with a number of buyers such as private equity firms and strategic consolidators. Visit www.providenthp.com.
