Shore Capital Partners Announces Sale of EyeSouth Partners

Shore Capital Partners, a Chicago-based private equity firm focused on microcap investing, is pleased to announce the sale of EyeSouth Partners, an eye care management services organization committed to partnering with leading doctors, to Olympus Partners.

Shore formed EyeSouth in 2017 with the goal of creating a leading ophthalmology platform in the South and providing the highest level of support to its practices and clinicians. At the time of founding, Shore completed a strategic partnership with Georgia Eye Partners and its founding physician, Dr. Eugene Gabianelli, was appointed Chief Medical Officer of EyeSouth. Led by Chief Executive Officer Rex Adams, EyeSouth has grown its affiliate network from 5 locations to over 155 locations throughout Georgia, Texas, Louisiana, Florida, Tennessee, Ohio, Kentucky, Pennsylvania, Alabama, North Carolina and Illinois.

“We are extremely proud of what the EyeSouth team has built,” said Justin Ishbia, Chairman of the EyeSouth Board and Founder and Managing Partner of Shore. “Through the company’s significant growth, the EyeSouth team remained committed to clinical quality and a patient-first culture above all else. With strong executive management in place under Rex’s leadership, we look forward to following EyeSouth’s continued growth as a leading national eye care provider.”

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“EyeSouth’s doctor ownership model and industry-leading support services have enabled the company to rapidly expand from 12 doctors at founding to over 270 doctors currently,” said Chris Mioton, Member of the EyeSouth Board and Partner at Shore. “EyeSouth recently entered Illinois, its 11th state, and has experienced incredible momentum since the company’s creation five years ago. We wish the EyeSouth team continued success in their next chapter with Olympus.”

“Shore’s partnership was invaluable and enabled us to expand rapidly,” said Adams. “We were able to move faster with less risk, given Shore’s years of experience investing in healthcare businesses and deep bench of hands-on operational support typically only accessible to large-cap companies.”

“Since starting Georgia Eye Partners in 1999, our primary focus has been providing top-quality clinical care, and I am delighted that we have maintained this since expanding and adding new affiliates to the EyeSouth platform,” said Dr. Gabianelli. “We look forward to continuing to support physicians with resources that enable them to do their best work and provide exceptional care to their patients.”

Rich Agabs, Atishay Chopra and Brian Castiglioni of Jefferies LLC are serving as exclusive financial advisor through their Essential Outpatient Healthcare franchise and Winston & Strawn LLP is serving as legal advisor to Shore and EyeSouth. Bass, Berry & Sims is serving as regulatory counsel to Shore and EyeSouth.

Source: BusinessWire

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