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Edgemont Partners Announces Recap of Quigley Eye Specialists by New Harbor Capital

February 25, 2020, 09:10 AM
Filed Under: Healthcare

Edgemont Partners, a leading middle-market healthcare investment bank, announced that it served as co-advisor to Quigley Eye Specialists in its recapitalization with New Harbor Capital. The transaction closed on January 24, 2020. The terms of the transaction were not disclosed.

The Edgemont deal team was led by Luke Mitchell, Managing Director, and Erik Kistler, Director.

Quigley Eye is one of the premier ophthalmology groups in the Southeast United States. Headquartered in Ft. Myers, Florida the Company provides a full range of treatments at its eight clinics and ambulatory surgery center. Their management team has successfully built a company known for providing the highest level of vision care for cataracts, glaucoma, diabetic retinopathy, cornea conditions, dry eye and droopy eye lid. Located in one of the most desirable markets for an ophthalmology platform, due to patient demographics and high market fragmentation, the Company is an operator of scale with the fundamental attributes required to serve as a platform for regional growth. In partnership with New Harbor, the Company will continue to be led by Dr. Thomas Quigley (founder and medical leader), Mark Quigley (CEO), the other physician shareholders, and their extensive management team.

The recapitalization represents Edgemont’s 24th physician services transaction, and fifth closed office-based physician transaction in the past seven months. Other recent physician services transactions include the recapitalization of Soderstrom Dermatology by HIG Capital, recapitalization of another large vision care group (transaction to be announced), the recapitalization of Laser and Skin Cancer Centers of New York, and the acquisition of Arizona Dermatology.

"Finding the right financial partner required a process where we could be well-informed and educated about all of the transaction details in a way that allowed us to go forward with complete knowledge and confidence. Edgemont helped us accomplish this," said Dr. Thomas A. Quigley, founder of Quigley Eye Specialists.

"Luke Mitchell and the Edgemont team have extensive experience assisting physician groups through similar processes. Their deep industry knowledge and extraordinary commitment to our best interests helped us pick a great partner in New Harbor Capital," said Mark Quigley, CEO of Quigley Eye Specialists.

"We are proud to have co-advised Quigley Eye on this partnership with New Harbor, a partnership we are confident will result in one of the strongest comprehensive eye care platforms in the country," said Luke Mitchell.

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