Health Network One, an H.I.G. Capital Portfolio Company, Acquires Premier Eye Care

MIAMI–(BUSINESS WIRE)–#Acquisition–H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $53 billion of equity capital under management, is pleased to announce that its portfolio company, Health Network One, has acquired Premier Eye Care, Inc. (“Premier” or the “Company”).

Founded in 1993, Premier partners with health plans to optimize care across ophthalmology and optometry benefits. Premier helps deliver high quality healthcare and medical outcomes through its network of over 20,000 eye care providers and in-house clinical specialists. In addition to improving medical outcomes and access to care, Premier utilizes value-based care solutions to deliver cost-effective eyecare services to nearly 2 million covered lives. The Company has a comprehensive provider network across 37 states.

“We are excited to welcome Premier into the Health Network One family,” said Luis Mosquera, Chief Executive Officer of Health Network One. “Its focus on providing cost-effective access to high quality healthcare creates a natural fit with Health Network One’s own value-based solutions. Premier’s clinical expertise in ophthalmology and optometry services, along with its robust provider network, greatly enhances our existing eyecare business. The acquisition presents an exciting opportunity to work collectively with the entire Premier management team to best serve our provider network, our health insurance partners, and their patients and members.”

Lorna Taylor, CEO of Premier, added, “We are thrilled to join forces with Health Network One. Since launching Premier in 1993, clinical quality and exceptional service have been at the core of what we do every day. Health Network One will be a true strategic partner, allowing us to maintain Premier’s focus while also growing our customer base and provider networks. I look forward to joining the Board of Health Network One and to working hand-in-hand with Luis as we take the combined Company to the next level of capability and scale.”

“We are pleased to support Health Network One’s acquisition of Premier,” said Camilo E. Horvilleur, Managing Director at H.I.G. Capital. “This acquisition further establishes Health Network One as a leading specialty benefit manager by creating the leading ophthalmology and optometry network across the United States. We will continue to support the Company to drive further growth.”

About Premier Eye Care

Premier is a specialty benefit manager for optometry and ophthalmology. The Company partners with blue chip health insurance companies to manage care and administration for nearly 2 million health plan members. Through its comprehensive network of over 20,000 optometrists and ophthalmologists, Premier helps deliver high quality and convenient healthcare to health plans and their members. In addition to managing provider networks, Premier offers administrative services to health payors and providers including authorizations, claims management, and credentialing. Premier helps drive medical outcomes, and its value-based care solutions allow the Company to deliver high quality care in a cost-effective manner, aligning incentives with key stakeholders. Premier holds NCQA accreditation and HITRUST certification.

The Company was founded in 1993 and is based in Boca Raton, Florida with offices in Honolulu, HI. For more information about the Company, please visit www.premiereyecare.net.

About Health Network One

Health Network One and its affiliates are a specialty benefit manager for multiple specialties, including Physical, Occupational, and Speech Therapy; Dermatology; Vision and Ophthalmology; Podiatry; Gastroenterology; and Urology. Through its value-based solutions, it partners with industry-leading health insurance companies to provide care to over 5 million members. Through its robust network of over 10,000 providers, Health Network One serves as a single point of contact for its customers, and provides their members convenient access to qualified medical specialists. In addition to its comprehensive provider network, the business offers various administrative services including utilization management, claims management, and credentialing to help reduce the administrative workload and improve quality. Health Network One is NCQA-accredited and HITRUST-certified.

Health Network One was founded in 1999 and is based in Ft. Lauderdale, Florida with offices throughout the U.S. For more information, please visit www.healthnetworkone.com.

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with $53 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
  4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Contacts

Camilo E. Horvilleur

Managing Director

[email protected]

Scott Zhu

Managing Director

[email protected]

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