Fort Lauderdale, FL, March 31, 2020 (GLOBE NEWSWIRE) -- Cross Keys Capital served as the exclusive M&A advisor to Lehigh Valley Eye Center, PC ("LVEC") and SLTLBK Associates, LLC dba Valley Eye Surgical Center (“VESC”) in its partnership with Spectrum Vision Partners (“SVP”), a portfolio company of Blue Sea Capital. LVEC is the most comprehensive ophthalmology group in the entire Lehigh Valley and VESC is the only full-service specialized eye surgery center in the Lehigh Valley area, providing not only common eye operations and procedures, but also ocular plastics and pediatric procedures.
Led by seven board-certified ophthalmologists and two optometrists, Lehigh Valley Eye Center has been providing specialty services for the treatment of all major eye diseases since 1994, serving two locations in Allentown and Bethlehem, Pennsylvania. In addition, Valley Eye Surgical Center, which is licensed by the State of Pennsylvania and AAAHC Accredited, has provided patients in the Lehigh Valley with high quality care and the latest eye treatments and procedures since 2005.
“This marks a major milestone for Spectrum Vision Partners, as we grow our regional footprint,” remarked Tom Burke, SVP’s CEO. “We’re proud to assist these two well-established and well-respected Lehigh Valley eye care centers as they move under the SVP umbrella. Lehigh Valley Eye Center’s award-winning team is a perfect fit for the growing Spectrum network of state-of-the-art eye care practices.”
In reflecting on the Cross Keys' process that resulted in both LVEC’s and VESC’s partnership with Spectrum Vision Partners, Dr. Marnie O’Brien stated, "With the help of Cross Keys, our Practice and surgery center have partnered with the world-class Spectrum Vision team and organization. The Cross Keys team, led by Jeanne Proia and Ryan Hunter, supplied us with expert guidance throughout every step of the process. This extraordinary opportunity would not have been possible without their unmatched experience in dealing with transactions of this kind. We could not have been more pleased with our choice of Cross Keys to be our sell-side advisor."
Jeanne Proia, Managing Director at Cross Keys, commented, "Lehigh Valley Eye Center and Valley Eye Surgical Center expands Spectrum’s impressive northeastern footprint into Pennsylvania with a group of high-quality physicians with an unmatched reputation in the area.”
About Spectrum Vision Partners
Spectrum Vision Partners (http://www.spectrumvisionpartners.com) is a leading management services organization, serving the ophthalmology sector. Spectrum Vision Partners has nearly 800 employees, providing world-class practice management solutions to a network of nationally renowned, multi-specialty ophthalmologists in the New York, New Jersey, Connecticut, and Pennsylvania region. The Spectrum platform consists of 28 clinic locations and 3 State Licensed Ambulatory Centers, with 80 surgeons, doctors, and other medical professionals. Spectrum Vision Partners provides a comprehensive set of business support functions, including billing and collections, credential services, marketing, physician recruitment, ASC development, financial and accounting services, benefits and payroll management, and information technology. The company’s corporate service center is located at 825 East Gate Boulevard, Suite 111, Garden City, NY 11530.
About Cross Keys Capital
Cross Keys Capital is a leading middle market investment bank providing merger and acquisition advisory services to established businesses in areas including healthcare, business services, niche manufacturing, and information technology. The firm’s healthcare practice is a leader in representing private physician group practices including ophthalmology, urology, oncology, anesthesiology, orthopedics, podiatry, radiology, ED, allergy, pathology, hospitalists, dermatology, dentistry, and behavioral health, as well as a variety of other healthcare services providers and healthcare technology companies.
Cross Keys Capital has closed more than 15 ophthalmology transactions nationally. In addition to the above, Cross Keys has successfully represented SightMD, Omni Eye Services, Mid Florida Eye Center, and Southeast Eye Specialists, among others.
The firm’s extensive experience and track record in advising physician practices are unrivaled by any other middle market investment banking firm in the nation – Cross Keys has completed the sale or merger of over 60 transactions of independent physician group practices, healthcare services providers and healthcare technology companies.
For more information on Cross Keys Capital’s perspectives on Healthcare M&A and the sale of physician practices, please visit our website at http://www.ckcap.com or contact Jeanne Proia, Managing Director, at (954) 321-8287.