Vision Integrated Partners Completes Refinancing

Vision Integrated Partners (VIP) has successfully completed a recapitalization that consist of $25 million revolving credit facility, a $155 million term loan, and a $12.5 million delayed draw term loan. Proceeds from the credit facilities will be used to refinance existing indebtedness, fund acquisitions, and for general corporate purposes, according to VIP. 

“We have been very focused on growing our platform over the past 2 years. As a result, we have brought on some outstanding partners while doubling the size of the company. This has created a need to revise our debt structure and create more capacity for future growth. Our partners at Firmament provided great support and advice to help us through this process,” said VIP CEO Jim Wachtman.

Cain Brothers and KeyBanc Capital Markets Inc., alongside KeyBank Beach Point Direct Lending Program, successfully closed on the syndication of $192.5 million of senior secured credit facilities in support of VIP.  Moelis and Company and Shepard Mullin also advised on strategic options.  

VIP provides ophthalmology practice and ambulatory surgery center management services across six markets. The company has 26 practices, and 70 clinic locations which are aligned with 13 ambulatory surgery centers focused on ophthalmic and multi-specialty surgical procedures.