Koch Eye Associates Acquires Seacoast Eye Associates
Boston, MA — January 4, 2013 — Candescent Partners, a Boston-based private equity firm, announced that its portfolio company, Koch Eye Associates, has acquired Seacoast Eye Associates, a comprehensive vision health company in Wakefield, RI. Seacoast joins Koch Eye Associates and Eye Health Vision Centers to form one of the largest vision health companies in New England.
Seacoast's founders, Barry Wepman, MD and Mark Deresienski, OD, partnered in 2000 after practicing independently for over 20 years in South County. Seacoast physicians and team will continue to care for patients for many years to come. Drs. Wepman and Deresienski remarked that "partnering with Koch Eye Associates will provide us with more resources and locations to continue to meet the vision health needs of our patients. We are excited to be able to join the best team in Rhode Island."
Peter Koch, Chairman of the Board, remarked "we have worked collaboratively for years with Seacoast and are happy they are joining our family of physicians. Dr. Paul Koch commented "together we will be able to provide the most innovative care to help people throughout Rhode Island to see their very best."
About Candescent Partners, LLC
Candescent Partners is a Boston-based private equity firm that provides smart and innovative capital solutions to growth companies in the lower middle market in healthcare services, business services, software and consumer products and services. Steve Jenks and Sandy McGrath founded Candescent in 2008. Steve Sahlman joined the partnership in 2009. Candescent invests in businesses with annual EBITDA between $2 and $8 million and enterprise values between $10 and $75 million. For more information, visit: www.candescentpartners.com
About Seacoast Eye Associates
Located in the medical office building at South County Hospital in Wakefield, RI, Seacoast Eye Associates Inc. provides comprehensive vision health services. Founded by the Drs. Barry Wepman and Mark Deresienski in 1990 with the later addition of Nicole Fantoni, Seacoast Eye Associates provides routine eye examinations, Lasik surgery, cataract surgery, and retina and glaucoma treatment. For more formation, visit: www.seacoasteye.com