Health Network One, an H.I.G. Capital Portfolio Company, Acquires Premier Eye Care
January 2023MIAMI--(BUSINESS WIRE)--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").
"We are pleased to support Health Network One's acquisition of Premier"
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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.
https://www.businesswire.com/news/home/20230103005816/en/Health-Network-One-an-H.I.G.-Capital-Portfolio-Company-Acquires-Premier-Eye-Care