Charlottesville, Va. (September 18, 2018) – Quad-C Management, Inc. (“Quad-C”), a leading middle market private equity firm, today announced it has closed on a joint investment with NJRetina in NJEye, LLC, a regional eyecare administrative services organization.
NJRetina, which operates 15 clinical sites throughout New Jersey, formed NJEye to provide administrative and non-clinical services to ophthalmologists.
“NJRetina has been working for the last few years to expand its administrative capabilities and to organize with leading ophthalmologists in our market through our administrative services organization, which we recently branded as NJEye,” said Dr. Steve Madreperla, CEO, NJEye.
“We recognized that a strategic alignment with the right financial partner would allow us to more effectively reach our potential,” Madreperla added. “After a highly selective search, we are pleased to announce our partnership with Quad-C. We chose Quad-C because of their deep experience in multi-site physician practice administration and their commitment to clinical excellence, which has been the hallmark of NJRetina since its formation.”
The parties entered into the relationship to further the growth of NJEye and to develop affiliations with leading ophthalmologists regionally and eventually nationally, according to Frank Winslow, Partner, Quad-C.
“We have been looking to invest in the ophthalmology sector for several years now, and we’re excited to partner with NJRetina, which has built a fantastic reputation over nearly four decades,” said Winslow. “We believe we can leverage our experience in physician practice administration and NJRetina’s meaningful investment in its administrative service organization to drive sustained growth going forward.”
Terms of the investment were not disclosed.
NJRetina is one of the largest and most well-known retina practices in the country. With roots dating back to 1979, NJRetina serves as a center of learning for retina specialists offering fellowship training in the field of retina care. NJRetina’s 19 board certified retina specialists provide retina and subspecialty services such as ocular oncology in offices covering northern and central New Jersey. Many of NJRetina’s physicians are national leaders, serving as principal investigators on national clinical trials and as leaders in national and local societies and academic centers including the American Society of Retina Specialists (ASRS).
Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a middle market private equity firm focused on investing in well-established business services, consumer, general industrial, healthcare, specialty distribution and transportation/logistics companies. In its nearly three-decade history, Quad-C has invested over $3 billion of capital in over 65 companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value. www.quadcmanagement.com
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