Group praised for “excellent management team” and “leading market presence.”Alpine Capital LLC has provided $7.5 million in financing to Claris Vision Holdings, a company that brings together several New England eyecare practices.
The financing will go toward working capital, including the refinancing of outstanding debt, according to a press release. It will also support capital expenditures and potential future acquisitions.
“Alpine Capital worked diligently to structure a capital solution that met our growth needs,” said Marcello Celentano, CEO of Claris Vision. “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.”
Claris, formed in 2011, is made up of Koch Eye Associates, Seacoast Eye Associates, Eye Health Vision Centers and Southcoast Eye Care. It operates more than a dozen facilities in Massachusetts and Rhode Island.
"With its strong capitalization, excellent management team, leading market presence and high demand for their eye care services, Claris Vision is a provider that we’re very pleased to support,” said Alan Regdos, CEO of Charlotte, NC-based Alpine Capital.
The financing consists of a $3 million senior secured revolving line of credit, a $2.5 million senior secured term loan and a $2 million equipment lease line.
Read more from Alpine Capital
The Latest Orbit Headlines
- US Small Businesses Eye Expansion Despite Concerns About Economy
- National Sunglasses Day Is Almost Here
- The Stomach-Churning Truth About Counterfeit Contact Lenses
- Online Eye Tests 'Subvert Care,' AOA Says
- Varsity Healthcare Partners and Harvest Partners Announce Recapitalization of EyeCare Services Partners