Alpine Capital, LLC announced today that it has provided $7.5 million in financing, which consisted of a $3 million senior secured revolving line of credit, a $2.5MM senior secured term loan, and a $2MM equipment lease line to Claris Vision Holdings. Proceeds from the financing will go towards working capital purposes, including the refinancing of outstanding indebtedness, and supporting the growth CAPEX and potential future acquisitions.
Claris Vision was formed in 2011, bringing together some of New England’s top eye care practices to provide the most comprehensive spectrum of vision care services available in the region. Claris Vision’s team of over 45 leading physicians are dedicated to providing the best clinical care, utilizing leading technology, and ensuring an individualized experience and high quality care plan for each patient. Existing Claris Vision services include: comprehensive eye exams, urgent/emergency care, eyewear assistance at optical shops, contact lenses exams, diagnosis and treatment of glaucoma, cataract surgery, intraocular lens implants (IOL), macular degeneration treatment, diabetic retinopathy, dry eye treatment, laser vision correction (LASIK), vitreoretinal disease and surgery, and oculoplastics.
Marcello Celentano, CEO of Claris Vision, said “Alpine Capital worked diligently to structure a capital solution that met our growth needs. It was evident through their healthcare finance industry expertise, and strong understanding of the eye care space specifically, that we were partnering with the best capital source possible. We are delighted to have Alpine as our lending partner.”
Regarding the transaction, Alan Regdos, CEO for Alpine Capital, said “With its strong capitalization, excellent management team, leading market presence, and a strong demand of eye care services, Claris Vision is a provider that we’re very pleased to support. We look forward to a long and mutually beneficial relationship.”
About Claris Vision
Claris Vision, a Candescent Partners portfolio company, is a leading vertically integrated optometric and ophthalmologic practice in New England. Claris’ comprehensive and differentiated eye care practices were formed by the merging of Koch Eye Associates, Eye Health Vision Centers, Southcoast Eye Care, Seacoast Eye Associates, the Greater New Bedford Surgery Center, and the St. James Surgery Center, bringing together 14 of New England’s top eye care practices and ASCs to provide to the most comprehensive spectrum of vision care services available in the region.
About Alpine Capital, LLC
Alpine Capital is a specialty lender dedicated exclusively to providing secured debt financing to healthcare companies. With over 45 years of collective experience, Alpine Capital LLC leverages its expertise and understanding of the unique challenges facing healthcare providers to custom-tailor products to meet the specific needs of its clients.
Alpine is an affiliate of Eye Care Leaders, which brings together the most trusted brands, services, and capital in eye care to help providers manage and grow their practices. As an Eye Care Leaders affiliate, Alpine provides optometrists and ophthalmologists with financial support to achieve their growth goals.
Alpine Capital LLC is headquartered in Charlotte, NC. www.alpinecapfin.com
About Eye Care Leaders
The Eye Care Leaders is a family of companies that serves more than 6,000 ophthalmologists and optometrists, with the common goal of improving the efficiency, profitability and competitiveness of eye care practices. The Eye Care Leaders brings together the most trusted names in electronic health records including Medflow, MDoffice, ManagementPlus, IO Practiceware and EyeDoc, in addition to a comprehensive suite of business solutions including revenue cycle solutions, analytics and benchmarking, patient retention and acquisition and capital financing. With a sole focus on eye care, the Eye Care Leaders understands the challenges physicians face, and brings solutions to complex challenges to help practices reach their goals and succeed. For more information, please visit www.eyecareleaders.com or join us on Facebook and Twitter.
Alpine Capital, LLC