The Bottom Line: NewSpring Invests in Panorama Eye Care
October 14, 2021
NewSpring, a family of private equity strategies, today announced that NewSpring Healthcare, the Firm’s dedicated healthcare strategy, has invested in Panorama Eye Care in partnership with co-investors Archimedes Health and Heritage Group.
Panorama Eye Care is a manager of several regional eye clinics in the Mountain West region of the U.S.
Panorama Eye Care is an eye care management services organization that manages numerous regional ophthalmology clinics, including Eye Center of Northern Colorado, Denver Eye Surgeons, Fort Collins Eye and Laser Center, Windsor Eye Care, Northwest Eye, and Cheyenne Eye Clinic & Surgery Center. This physician-led partnership integrates administrative and management functions of partnered eye clinics, providing the opportunity for growth while allowing the physician owners to keep patient care their sole focus.
The market for eye care services is large and growing
The U.S. ophthalmology services market already represents a $16 billion segment of the $36 billion total annual U.S. eye care market. Today’s aging population, combined with increased incidents of diabetes, is leading to industry volume growth. There is a growing shortage of more than 4,000 ophthalmologists in the area, creating an increasing demand for the eye care services provided by Panorama Eye Care.
Panorama Eye Care provides administrative services that enable its partner eye clinics to focus on patient care
Panorama Eye Care will support partnered clinics with strategic guidance, management of human resources and other administrative functions, billing and RCM, operating and integrations expertise, and capital. With a keen focus on clinical quality care, industry-leading technology, employee engagement, and a patient-centric focus, Panorama Eye Care’s network practices are uniquely differentiated.
“Our combined regional presence and collaborative efforts will allow us to expand our leading clinical outcomes and outstanding patient satisfaction, which will continue to differentiate us from the competition. This partnership provides us the opportunity to set the new paradigm in eye care, improving access to, and the quality of, eye care to the patients that we are privileged to serve.”
An innovative, growth-oriented management team with decades of healthcare experience runs Panorama Eye Care
Panorama Eye Care CEO Marcello Celentano is an industry veteran with a long track record of growing eye care and other healthcare services providers. Together with the company’s strong clinical team of physicians and supporting staff, Panorama Eye Care is focused on expanding its leading clinical outcomes and outstanding patient satisfaction to provide more patients with the highest-quality ophthalmologic and optometric services.
“Panorama Eye Care is partnering with physicians who are focused on expanding access to high-quality care for a population with a critical need. There’s an anticipated shortage of ophthalmologists in the U.S. over the next decade, and this supply-demand imbalance is driven by the changing population demographics of this country, as well as a rise in secondary causes of eye diseases. We are excited to work with Marcello and his management team to continue scaling this business and bringing much-needed care to patients in need.”