Outlet: Ophthalmic World Leaders (OWL): Advancing Diversity in Leadership – Blog
Publication Date: March 2019
OWL | What led you to joining OWL?
Eric: I am one of the newer members of OWL, having joined this past summer. Our firm is an investment bank focused exclusively in healthcare services transaction advisory, and we’ve been very active working with ophthalmology groups across the country exploring capital raising and strategic partnership opportunities. We have worked with a few leading ophthalmology practices over the past several years, and I was fortunate enough to meet Tracy Kenniff and Candy Simerson. Both spoke so highly of OWL and its mission, and I was intrigued to learn more.
OWL | Why is OWL important to you and your organization?
Eric: Provident is dedicated to working in parallel with our clients to help them achieve their strategic and financial goals. Affiliating with an industry renowned organization such as OWL, committed to promoting and advancing innovative and quality patient care, aligns with our longstanding mission of helping healthcare organizations navigate a challenging and dynamic healthcare environment.
We hope to forge meaningful and lasting relationships with some of the most innovative thought leaders in ophthalmology so that we can work with those individuals to help solve for any business challenges they face and guide them through strategic options to take their business to the next level.
OWL | We know that at Provident you have worked with many eye care companies. Based on your experience, is there any advice you could give to leaders within the space?
Eric: From practice management perspective, the ophthalmology market is evolving quickly in the U.S. as private equity investors with significant capital align with leading ophthalmology practices across the country and lead consolidation efforts both regionally and nationally. We’d encourage leaders within the space to engage in discussions and become more educated regarding the motivations of private equity, how this may or may not be a fit for certain practices, and how this could impact the business of medicine going forward.