Goldman Sachs to Acquire Capital Vision Services to Strengthen Healthcare Investment Portfolio

VCBeat (WeChat ID: vcbeat) has learned that Goldman Sachs recently announced its commercial banking division will acquire Capital Vision Services to strengthen its portfolio in the healthcare services sector. West Street Capital Partners VII, a fund managed by Goldman Sachs’ commercial banking division, will finance the acquisition.

Goldman Sachs Group did not disclose the specific transaction amount for this acquisition, but earlier reports from The Wall Street Journal valued the deal at $2.7 billion, including debt. The transaction is expected to be completed in the third quarter of 2019.

In this acquisition, Simpson Thacher provided legal services to Goldman Sachs’ Commercial Banking Division, while Kirkland & Ellis advised Capital Vision Services.

Previously, Capital Vision Services was a portfolio company of the investment firm Altas Partners and the Canadian pension fund Caisse de dépôt et placement du Québec.

Capital Vision Services, established in 2001 and headquartered in Vienna, Virginia, USA, is a vision care company. The company is dedicated to providing comprehensive optometric and personalized optical services to patients by offering top-tier solutions to optometrists.

Capital Vision Services owns nearly 500 optometry centers under the name MyEyeDr. The company plans to operate 575 optometry centers across 18 U.S. states by the end of 2019. It is also committed to providing management services to MyEyeDr optometry centers, including financial, marketing, human resources, and accounting support.

Goldman Sachs Group, founded in 1869 and headquartered in New York, United States, is a leading global investment bank and securities firm that provides investment, advisory, and financial services to a diverse client base comprising corporations, financial institutions, governments, and individuals worldwide.

Goldman Sachs views China as a key market and has prioritized it as a focal region for its global business development since the early 1990s. The firm established its Asia-Pacific headquarters in Hong Kong in 1984, and later opened representative offices in Beijing and Shanghai in 1994, formally entering the mainland China market.

Goldman Sachs’ Commercial Banking division primarily engages in long-term principal investment activities. With nine offices across seven countries, it is one of the world’s leading private capital investors, making equity and credit investments in corporate, real estate, and infrastructure strategies.

Jo Natauri, Global Head of Healthcare Investment at Goldman Sachs, stated, “Capital Vision Services boasts a talented management team, and we look forward to collaborating with them to build a proven, consumer-centric healthcare model that promotes patients’ eye health.”

(Compiled by Jiao Yanli)