14 April 2017

Miller Johnson Represents Owners of Grand Rapids Ophthalmology in Strategic Partnership with Sterling Partners

The Transaction
Miller Johnson represented Grand Rapids Ophthalmology (GRO) in an investment transaction with Sterling Partners (Sterling). Sterling acquired a majority position in GRO as a result of the transaction, and GRO’s current ownership will remain in their current roles. GRO is the first ophthalmology practice to be added to the Chicago-based private equity group’s healthcare services portfolio.

“For more than 30 years, Grand Rapids Ophthalmology has delivered exceptional service and the highest-quality care to our patients,” said David Barrett, a doctor at Grand Rapids Ophthalmology. “The brand and reputation we’ve worked so hard to build will not change, and now we have an exciting opportunity to further solidify our strong market position. With the additional resources and expertise we now have through our partnership with Sterling, we’ll be able to continue to invest in our employees and the most advanced technologies and systems to ultimately benefit patients not just in West Michigan but well beyond.”

Cascade Partners served as financial advisor and Miller Johnson served as legal counsel to GRO. Miller Johnson’s transaction team consisted of Dustin Daniels (M&A counsel), Ken Hofman (M&A counsel), Tim Gutwald (Healthcare), Brittany Harden (Corporate), Neil Williams (Tax, Corporate), James Ens (Real Estate), Mary Bauman (Employee Benefits) and Frank Berrodin (Employee Benefits).

Grand Rapids Ophthalmology
Founded in 1982, GRO offers a full suite of eye care services including optometry, retail optical, oculoplastics, cataract surgery and retinal sub-specialties. GRO has the most comprehensive range and the greatest depth of medical eye care services available in West Michigan with 11 ophthalmologists, 18 optometrists and 180 other technicians and staff across 11 locations including two state-of-the-art surgical centers.

Sterling Partners
Sterling Partners, founded in 1983, is based in Chicago, Illinois with additional offices in Baltimore, Miami, India, Hong Kong, and Mexico. They are a leading private equity firm focused on investing growth capital in middle-market companies in the healthcare services and business services industries.

Miller Johnson’s Mergers and Acquisitions Group
Miller Johnson’s M&A practice group is adept at negotiating, structuring, and advising clients with respect to the various challenges that arise in the context of mergers, acquisitions, dispositions or other business combinations.

Miller Johnson is listed for mergers and acquisitions with U.S. News & World Report’s Best Law Firms and is ranked among America’s best by Chambers USA. At the M&A Deals and Dealmakers Awards presented annually by the Association for Corporate Growth (ACG) West Michigan chapter and MiBiz, Miller Johnson attorneys are regularly involved in transactions honored across various categories. For further information, please contact Dustin Daniels at (616) 831-1737 or Robert D. Wolford at (616) 831-1726.