How Private Equity Is Buying Up Eye Care Practices

Episode notes

In this episode of The Buyout Show, Lucas and Luna examine the rapid consolidation of eye care practices - optometry and ophthalmology - by private equity firms. They focus on the specific case of EyeCare Partners, one of the largest aggregators, which has rolled up over 700 clinics since 2015. Lucas explains the financial logic: predictable recurring revenue from glasses, contacts, and exams, plus high-margin surgical procedures. Luna questions whether quality of care suffers when a local practice gets acquired. They discuss the role of management services organizations (MSOs) and why optometry is attractive for roll-ups compared to other specialties. The hosts also explore the growing trend of on-site vision centers inside retail stores like Target and Walmart, and how PE-backed platforms are competing with them. A donation segment ties the conversation to the value of independent analysis. By the end, listeners understand the economics, the key players, and the potential risks of PE in eye care.

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