DALLAS — Acuity Eyecare Group has recently completed 12 acquisitions in four states, totaling 22 eyecare practices.
AEG, a portfolio company of Riata Capital Group, now owns and operates approximately 140 practices across 11 states, according to a press release. It has another 30 practices under letter of intent.
In 2019, the company completed 30 acquisitions, representing 60 practices.
Acuity’s new acquisitions are located in Arizona, Tennessee, Texas and Ohio. The groups and practices “are complementary to AEG’s market positioning as a community-based doctor-centric eyecare platform that provides full-scope optometric services and a comprehensive selection of lenses, frames and contacts lenses,” according to the release.
Acuity Eyecare Group also announced that it is rebranding to AEG Vision, “a name that better reflects the Company’s commitment to full-scope medical optometry and improving patient outcomes.” The rebranding includes a redesign of the company’s website, logo, graphics and communications.
“We are excited with the development of AEG Vision, an eyecare platform positioned as a caring community of local providers that helps our neighbors take care of their vision, one patient at a time,” said Eric Anderson, CEO of AEG Vision. “Our approach is to be collaborative with independent eyecare professionals and eyecare groups. And increasingly as we emphasize full-scope medical optometry, along with delivering an exceptional retail experience for patients and customers, our message is increasingly resonating with the market.”
Jeff Fronterhouse, managing partner of Riata Capital Group, said, “We are excited to continue AEG’s momentum into 2020. AEG Vision has now established presence and is focused on building density in 11 states. To support this growth, AEG has been systematically adding resources to its field support, operations, and integration teams. Importantly, we are transitioning all practices acquired to a common POS, practice management, EHR systems platform.
“Ultimately, we are building the business to support steady acquisition-led growth, and remain enthusiastic about achieving our stated goal of building AEG into a 250-300 location market-leading eyecare platform.”