Pine Tree Equity Recapitalizes iCare Health Solutions
Pine Tree Equity IV, LP (“Pine Tree Equity”), a private equity firm based in Miami, FL, is pleased to announce that it has recapitalized iCare Health Solutions, LLC, iCare Health Options, Inc., Sidney J. Stern Visual Health Centers P.A. and Optilab, LLC (collectively “iCare” or the “Company”) in January 2020. The Company, founded in 1982 and headquartered in Miami, FL with an additional location in Tampa, FL, is a leading managed service provider for ophthalmology and optometry services in Florida. iCare serves over 1.2 million members and maintains a network of over 1,200 ophthalmology and optometry providers. For additional information on iCare, please visit http://myicarehealth.com/.
The Company primarily provides vision benefits and network management services on an “at-risk” basis as well as under “non-risk” fee-for-service contracts.
Pine Tree Equity partnered with the founder and management team of iCare to recapitalize the platform in order to accelerate the Company’s geographic expansion and pursue complementary add-on acquisitions. iCare marks Pine Tree Equity’s 74th investment since inception in 2007 (i.e., 26 platform and 48 add-on acquisitions). We are pleased to offer traditional referral fees for a closed transaction based on a signed fee agreement. For additional information, please call Jeff Settembrino at (305) 808-9820.