Rhode Island practice sold

February 8, 2012

Private equity firm Candescent Partners has acquired vision services provider Koch Eye Associates.

Boston-Private equity firm Candescent Partners has acquired vision services provider Koch Eye Associates.

Founded by the Koch family in 1981, Koch Eye Associates operates seven locations throughout Rhode Island, providing services ranging from basic optometry to LASIK and cataract surgery in a company-owned surgery center. Peter Koch, Paul Koch, MD, and Patricia Koch, OD, will remain active in the business.

“This transaction represents a significant opportunity for both Candescent and Koch,” said Sandy McGrath, managing partner of Candescent Partners. “We look forward to partnering with the Koch family to continue to provide comprehensive and quality medical services to Koch’s dedicated customers. We anticipate continuing to grow the business through a combination of organic growth and strategic acquisitions.”

“Candescent has a strong track record of successfully building and growing health-care services enterprises,” said Peter Koch, who will remain chief executive officer of Koch after the transaction is completed. “I look forward to working with them to build the premier vision care services company in New England.”

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