Pharos Capital to Acquire Vantage Outsourcing and Create New Ophthalmology Services Platform
DALLAS and NASHVILLE, Tennessee., September 22, 2021 / PRNewswire / – Pharos Capital Group, LLC (“Pharos”), a mid-market private equity firm based in Dallas and Nashville, announced the acquisition of Vantage Outsourcing® (“Vantage” or “the Company”), a leading provider of cataract surgical services. Co-founder and CEO, Ann deters, and president Chris swing will retain a minority stake in the Company. Additional terms were not disclosed.
Founded in 1995 and based in Effingham, Illinois, Vantage provides logistical support services for cataracts and other ophthalmic procedures. It helps hospitals, surgical centers and physicians deliver quality cataract services to their communities cost-effectively and efficiently by enabling surgical facilities to deploy state-of-the-art cataract surgery equipment, instruments, disposables and other supplies needed for cataract surgery. Vantage is active in more than 20 states, particularly in rural, central, midwestern and southeastern United States
Joel goldberg, partner of Pharos, said: “Pharos has identified surgical support services for ophthalmology and other surgical specialties as a key area of focus for investment, with attractive demographic trends and a growing opportunity for improve outcomes for patients and providers. there is a marked need for such services in rural areas, where long distances to travel are an obstacle and where access to health care is often insufficient. We are excited to be working with Vantage, which supports providers and delivers life-saving services in areas that otherwise would not be served.
Pharos partners with industry veteran Bradley Hill Make the company a broad platform for surgical support services through targeted acquisitions and organic growth. Mr. Hill will serve as CEO of Vantage. He was previously Commercial Director at RazorMetrics, a SaaS platform that increases the transparency of prescription drug costs by providing cost information to prescribing physicians. Previously, he was President of Peak Health Solutions and held executive positions at a number of revenue cycle management and healthcare claims advisory companies.
Bob Crants, Founding Partner of Pharos, commented, “We are delighted to be working with Brad to help the platform create a powerful network of surgical support services supporting a wide range of provider specialties. build on Vantage’s proven model of contracting with customers to eliminate inventory and equipment risks, allowing physicians and hospital partners to focus exclusively on providing high-quality surgical services. quality. “
Ms. Deters said, “I am delighted to call on such a seasoned strategic partner to help Vantage achieve new goals in the next phase of its growth. Pharos’ proven track record and significant resources will be invaluable as Vantage seeks to serve more communities, as well as expand into new lines of service, outside of ophthalmology. “
This is the first investment from Pharos’ latest flagship fund, Pharos Capital Partners IV, LP, which is investing alongside its shadow fund, Pharos Capital Partners IV-A, LP, a licensed rural business investment firm. The funds will continue Pharos’ mission of reducing costs, improving outcomes and expanding access to care, especially in underserved urban and rural communities.
About Vantage Outsourcing®
Vantage (www.vantageoutsourcing.com) provides logistical support services for cataracts and other ophthalmology-specific procedures. Its services include the latest equipment as well as people trained to assist the doctor during surgery and manage the flow of patients. Vantage contracts with hospitals and other suppliers to eliminate their inventory and equipment risks and is active in more than 20 states in the Central, Midwest and Southeastern United States. A large portion of its customers are in rural areas, which allows the company to support providers and offer services in areas that otherwise would not be served.
About Pharos Capital Group
Situated at Dallas and Nashville, Pharos Capital Group (www.pharosfunds.com) is a physician-founded investment firm focused on growing healthcare companies that aim to reduce the total cost of care, improve patient outcomes and expand access to health care in underserved markets. Since its inception, Pharos has invested in 55 companies and has over $ 1.2 billion of private equity assets under management at June 30, 2021. Pharos generally invests 25 $–$ 50 million in rapidly growing mid-market companies seeking later stage financing for organic growth, acquisitions, leveraged buyouts, management buyouts or recapitalizations primarily in the healthcare industries.
For business development opportunities with Pharos Capital Group, please contact Adam Persian at 214-740-7003 or [email protected].
Lambert & Cie.
Lambert & Cie.
SOURCE Pharos Capital Group