Published in Breaking News

PE-backed firm acquires Shoreline Vision of Muskegon

BY Wednesday, January 10, 2018 11:18am

GRAND RAPIDS — Great Lakes Management Services Organization, the company formed last spring with private equity firm Sterling Partners’ acquisition of Grand Rapids Ophthalmology, has acquired a Muskegon-based practice.

The deal for Shoreline Vision extends Great Lakes MSO’s reach across West Michigan and into the lakeshore market. Shoreline Vision, founded in 1996, has six retail locations in Muskegon, Norton Shores, Spring Lake, Grand Haven and Fremont, plus an eye surgery center in Muskegon.

“Every decision Shoreline Vision makes is dependent on improving our patients’ care, whether it is investing in the latest technology, adding subspecialty physicians, or improving our facilities,” Dr. John Oltean, a founding member of Shoreline Vision, said in a statement announcing the deal. “Our latest decision to partner with Great Lakes MSO and the vast resources they can provide is consistent with that theme. We are certain this will benefit our patients, employees, and community for years to come.”

Terms of the deal were undisclosed.

The acquisition was the second by Great Lakes MSO following Chicago-based Sterling Partners’ May 2017 acquisition of a majority stake in Grand Rapids Ophthalmology, which has 12 locations in West Michigan. Great Lakes MSO subsequently acquired the Walker Surgical Center in November.

Sterling Partners, which has more than $4 billion in assets under management, invests in middle-market companies involved in health care and business services.

As MiBiz reported this week, private equity investors are looking more at the health care sector today. That’s giving physicians who are looking for a partner another option to consider as they evaluate their future.

Read 2583 times Last modified on Thursday, 27 December 2018 16:23