Pharos Capital Group, a middle-market private equity firm based in Dallas and Nashville, has acquired Vantage Outsourcing, a leading cataract surgical service provider, in line with its mission to improve health care services in rural and underserved areas.
As a part of the deal, Pharos will be partnering with Bradley Hill, which is the new CEO of Vantage, “to build the company into a broad surgical support services platform through targeted acquisitions and organic growth.”
Bob Crants, Founding Partner at Pharos, commented, "We are delighted to be working with Brad to help the platform build a powerful surgical support services network supporting a broad array of provider specialties."
This marks first investment from Pharos’s latest flagship fund, Pharos Capital Partners IV LP, investing alongside its parallel fund, Pharos Capital Partners IV-A LP, a licensed rural business investment company.
Joel Goldberg, a Partner at Pharos, said, "Pharos has identified surgical support services for ophthalmology and other surgical specialties as a key area of interest for investment, with attractive demographic trends and a growing opportunity to improve outcomes for both patients and providers.”
Co-founder and CEO of Vantage, Ann Deters, and President Chris Swing will continue to hold a minority stake in the company. Meanwhile, financial terms of the acquisition were not disclosed at the time of publication.
About Pharos Capital Group
Founded in 1998, Pharos Capital Group is a physician-founded private equity firm focused on growing healthcare companies. Its mission is to reduce healthcare inequalities in underserved markets across the United States, especially within urban and rural communities.
The company has invested in 55 companies and has over $1.2 billion of private equity assets under management as of June 30, 2021.
Founded in 1995, Vantage is a leading cataract surgical service provider. The company seeks to help new and established hospitals, surgery centers and physicians provide quality cataract services to their communities in the most cost-effective and efficient way by proving hospitals with cataract surgery equipment, IOLs, instrumentation, disposables and other supplies needed for cataract surgery.