Eyeing Healthcare Services Deals

Candescent Partners has led an acquisition of Koch Eye Associates, a provider of optometry and ophthalmology services in New England. Bush O'Donnell Capital Partners, Pine Street Capital Partners, First New England Capital and BCA Mezzanine Fund co-invested alongside Candescent. Koch received financial advice from DWQ Associates. Peter Koch will remain CEO of the company following the transaction.

Since the beginning of 2008, PE investors have closed 435 U.S.-based deals in the Healthcare Services industry, according to the PitchBook Platform. In 2010 and 2011, the South region led the activity, with 29 deals in 2010 and 36 in 2011, followed by the Southeast, with 25 in 2010 and 20 in 2011. Although there was a slight decrease in the number of deals closed from 2010 to 2011, both years had a much healthier deal flow than 2009, when only 63 Healthcare Services deals closed—a significant drop from 139 completed deals in 2008.