Edgemont Partners Announces Recapitalization of Quigley Eye Specialists by New Harbor Capital
Edgemont Co-advised Quigley Eye; Transaction represents Edgemont’s fifth office-based physician services transaction in seven months
NEW YORK, NY – February 24, 2020 – Edgemont Partners (“Edgemont”), a leading middle-market healthcare investment bank, announced that it served as co-advisor to Quigley Eye Specialists (“Quigley Eye”) in its recapitalization with New Harbor Capital (“New Harbor”). 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.
About Quigley Eye Specialists
Quigley Eye Specialists is a Florida-based medical and surgical practice specializing in the diagnosis and treatment of vision disorders. The Company provides the highest quality eye care available for cataracts, glaucoma, diabetic retinopathy, cornea conditions, dry eyes, and droopy eyelids using state-of-the-art technology. The dedication we have to our patients is demonstrated by our thoughtful and friendly attitude, our emphasis on providing up-to-date educational information, and our commitment to thorough, unhurried exams, consultations, and procedures. For more information, visit www.quigleyeye.com.
About New Harbor Capital
New Harbor Capital (NHC) works side-by-side with business owners and management teams to pursue accelerated growth. NHC seeks to invest in business services companies – often within the healthcare or education industries – that offer an opportunity for NHC to add value through our relevant experience. NHC’s creative solutions, relentless energy, and passion for collaboration cause “New Harbor to be known for not only what we do, but how we do it”. For more information, visit www.newharborcap.com.
About Edgemont Partners
Edgemont Partners is one of the nation’s premier healthcare investment banks, providing merger and acquisition advisory and capital raising services exclusively for healthcare companies. We focus solely on providing expert strategic advice and transaction execution, bringing a steadfast commitment to our clients, driven always by what is in the best interest of our clients. In our 19-year history, Edgemont has executed 155+ transactions with an aggregate value of 62 B+.
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Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member of FINRA and SIPC.