(New York, NY) – Cortec Group (“Cortec”), a New York-based private equity firm which invests in entrepreneur-led and family-owned middle market specialty consumer, business-to-business, distribution and healthcare services, and products companies, announced that an affiliate of Eye Academy Holdings, Inc. dba EVP Eyecare (“EVP” or the “Company”), a portfolio company of Cortec Group Fund VI, L.P., (“Cortec Fund VI”) acquired Rottman Eye Care, P.C. (“REC”) and Ashley R. Ford, O.D., PLLC (“ARF”) on November 20, 2020 and May Eye Care, Inc. (“MEC”) on December 31, 2020. Terms of the transactions were not disclosed.
REC and ARF, based in Grand Junction, CO and operating as a consolidated practice, and MEC, based in Westminster, CO, operate leading, full-service ophthalmology clinics. Through their dedicated physician specialists and advanced facilities and medical technology, the three clinics offer comprehensive eye care treatments and services to patients in the greater Grand Junction and Denver markets. Each has developed a reputation for personalized, effective care and is an important member of its respective community. REC, ARF and MEC were founded by Dr. Randy Rottman, Dr. Ashley Ford, and Dr. Kevin May, respectively, who will continue to lead their clinics.
Christian Ellison, CEO of EVP, commented, “We are thrilled to welcome Dr. Rottman, Dr. Ford, Dr. May and their teams to the EVP family. Our broader organization will benefit from their knowledge and expertise, as they together have over 70 years of combined experience in the field. In addition, each clinic is highly complementary to our existing presence in the region and will expand EVP’s ability to deliver the highest quality eye care to our patients.”
“Despite the challenges presented by the pandemic this past year, Christian and EVP’s leadership team have managed the business admirably while adding these highly strategic practices to the platform. We thank them for their hard work and look forward to our continued partnership,” said Bill Tucker, Cortec Partner. Cortec Co-President Jeffrey Lipsitz added, “We are excited to support the EVP management team as they continue to expand the company. As we enter 2021, we are pleased with the momentum behind the core business, which will accelerate with these acquisitions. We expect to complete additional acquisitions throughout the year.”
The REC / ARF and MEC acquisitions represent EVP’s second and third acquisitions, respectively, since completing a recapitalization with Cortec Fund VI in December 2016.
About EVP
Headquartered in Denver, CO, EVP operates 15 ophthalmology clinics and six ambulatory surgery centers that are exclusively focused on the treatment of ophthalmic conditions. EVP has built a leading regional provider of eye care services through an expert team of physician specialists, advanced surgical and treatment technology, and a culture of high-quality patient care. EVP’s facilities are located in Colorado, Texas, and Arizona and provide a range of eye care procedures and services, including cataract surgery, laser vision correction, corneal surgery, and a variety of treatments for glaucoma and retina conditions. More information about EVP can be found at www.evpeyecare.com.
About Cortec Group
Founded in 1984, Cortec invests in market-leading, middle-market specialty consumer, distribution, healthcare and specialty services and products businesses in partnership with entrepreneurs, families and management teams who want to work with Cortec to drive growth and improve business fundamentals. More information about Cortec can be found at www.cortecgroup.com.
