Ontario Teachers’ likes what it sees in a provider of eye care services
The Ontario Teachers’ Private Pension Plan, whose private equity activities are directed by Karen Frank, likes what it sees in a provider of eye care services. Ontario Teachers’ said it acquired a majority stake in NVISION Eye Centers. Terms were not disclosed.
Based in Aliso Viejo, Calif., NVISION has 43 locations, including eight ambulatory surgery centers across California, Nevada, Oregon, Washington and Arizona. Founded in 2010, the company has performed more than 2 million cataract and refractive surgeries.
In a statement, Karen said Ontario Teachers’ investment “is supported by demographic and health factors that are increasing demand for high-quality eye care” and that the company “is well-positioned in this market given their outstanding clinical reputation built on exceptional outcomes for their patients.”
Karen, who is senior managing director of equities, joined Ontario Teachers’ from Barclays Private Bank where she was CEO. Karen replaced Jane Rowe, who is now vice chair, investments.
Ontario Teachers’ recently teamed up with Lightyear Capital to acquire Allworth Financial, a wealth management firm.
Ontario Teachers’ is the administrator of Canada’s largest single-profession pension plan, with 204.7 billion Canadian in net assets as of June 30.