H2 Equity Partners has sold Optegra to MidEuropa

Optegra

Established in 2007, Optegra is a leading European ophthalmology platform headquartered in the UK and operating in Poland, the Czech Republic and Slovakia. Led by an experienced management team, it delivers best-in-class patient experience and achieves market-leading outcomes across the three focus areas of cataract, age-related macular degeneration and vision correction to both public and private pay patients. The platform operates out of 29 highly integrated, state-of-the-art facilities, performing more than 100,000 surgical procedures per year and has an increasing focus on public reimbursed cataract surgery given the growth dynamics in this clinical area globally.

Following H2 Equity Partners’ investment in early 2021, management has delivered on an impressive profit improvement and growth strategy and transitioned the company to a clinically focused true “platform”; with standardized pathways, protocols, systems and consumables, thereby laying the foundations for further accelerated geographic expansion. Since 2021, greenfield sites have been established in the UK, while M&A acquisitions have been executed across Poland, Czech Republic and Slovakia.

The Deal

Lincoln International acted as the exclusive sell-side financial advisor, running a robust, bespoke process during a challenging macroeconomic environment. The Lincoln team worked closely with the shareholders and management team, designing the process to give bidders early access to a world-class management team and providing fulsome diligence materials to solidify interest within the buyer pool. Both corporate finance and debt advisory advice were provided by Lincoln, which proved critical as the debt markets deteriorated post the summer break, demonstrating the value of Lincoln’s integrated advisory approach. The deal ultimately completed with the sale to MidEuropa, with their investment set to support Optegra in delivering its business plan and utilizing both the UK greenfield and European M&A opportunities.

Our Perspective

Matthew Lee, Managing Director and co-head of Lincoln’s European Healthcare Group, commented, “Optegra is ideally positioned for continued organic growth across its current footprint and expansion into new geographies. We are delighted to have advised H2 Equity Partners and the management team in achieving a successful outcome in what was a challenging market. This deal sets Optegra up for its exciting next chapter growth, and we are confident that Peter Byloos and his team, with MidEuropa’s experience in healthcare and expertise in Central and Eastern European markets, will over deliver their five-year business plan.”

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