Sunday, September 20, 2020 | 12:30pm - 1:30pm

Session 23: Private Equity and Eye Care: Should I Stay or Should I Go?

Presenter: Michael Kling, OD

The eye care industry has recently seen a significant interest from private equity (PE) firms to capitalize on the future projected growth opportunities of the eye care market. Historically, larger, well-established regional optometry and ophthalmology practices have been the target of these investors due to their existing operating infrastructure and significant market share. More recently, however, smaller independent practices have become of interest for aggregation from multiple private equity investors offering various models of acquisition, depending on the long-range objectives of the investors.

We will discuss the current state of the private equity market and its potential impact on practice owners who may be considering a partnership or exit strategy with PE. We’ll identify the current players in the market and discuss the various models offered to ECPs and other eye care related businesses considering this strategy. We’ll also discuss the risks and opportunities of an acquisition, the various valuation methods utilized, and ways of improving your cash flow to enhance the value of your business.

Learning Objectives:

• What is private equity? Learn the differences and similarities between private equity, venture capital and angel investors.
• Address the recent interest in eye care and the timing of the investment community.
• Become familiar with some of the most prominent PE investors and their various models of partnership with ECPs.
• We'll discuss the various advantages and disadvantages of partnering with a PE firm, and the potential impact on long-term income and investment opportunities. We’ll also consider how your professional timeline may impact your decision to sell.
• We'll discuss the importance of strong cash flow in your business, various valuation methods used to determine its worth, and explore strategies to increase its long-term value.
• The decision tree: We’ll walk you through the steps required when considering a private equity partnership, and the potential impact, both personally and professionally.

About the Speaker

Michael Kling, OD

Owner/CEO, Michael A. Kling, OD, Inc. DBA Invision Optometry

Michael Kling, OD, is the founder and CEO of Invision Optometry, the largest single-location practice in San Diego, CA. Recognized as unique and one of the most innovative practices in the country, Invision Optometry was named “America’s Finest Optical Retailer” by INVISION Magazine in 2017. In addition to private practice, Dr. Kling is a consultant and speaker for ImpactLeadership, which provides leadership, culture, and business consulting for eye-care professionals. Dr. Kling earned his Doctor of Optometry degree from Southern College of Optometry in 1993, and went on to complete a residency in Ocular Disease at OmegaEye Care Center in Jackson, TN.

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