Ophthalmology, Retina and Optometry Transactions

Baker Donelson's Health Care Transactions team delivers focused legal counsel tailored to the unique needs of ophthalmology, retina, and optometry groups. Our attorneys advise on:

• Structuring and negotiating practice sales, mergers, acquisitions, and recapitalizations with private equity sponsors and national platforms to maximize value and ensure seamless transitions.
• Advising on joint ventures and strategic affiliations, including ASC partnerships, retina and laser center collaborations, and multispecialty service expansions.
• Assisting with management services organization (MSO) models and governance structures to ensure compliance with corporate practice of medicine (CPOM) laws, fee-splitting rules, and other regulatory requirements.
• Advising on the expansion, licensing, and compliance of ancillary services such as optical shops, advanced imaging, vision therapy, dry eye clinics, and clinical research programs.
• Advising on the adoption and compliance of AI-based diagnostics, teleophthalmology platforms, and digital health tools, ensuring alignment with FDA, HIPAA, and state telehealth regulations.
• Structuring and negotiating payer contracts and value-based care arrangements to help practices adapt to evolving reimbursement models and quality metrics.

Results may vary depending on your particular facts and legal circumstances. Some of these matters were handled by a current Baker Donelson professional while associated with a prior firm.

• Represented a group of aligned ophthalmology practices in a sale to a New York-based private equity-backed platform.

• Represented a Massachusetts ophthalmology practice in a sale to a private equity-backed platform.

• Represented an ophthalmology practice in a sale to a New Jersey-based private equity-backed platform.

• Represented a large ophthalmology supergroup in its acquisition of an ASC in New Jersey.

• Represented one of the largest retina practices in New Jersey and New York in its partnership transaction with a large retina & ophthalmology private equity platform.

• Represented a mid-sized retina practice is Missouri in its partnership transaction with a Midwest based ophthalmology private equity platform.

• Represented a retina practice in the Northeast in consolidating with a group of other retina and ophthalmology practices in the region in order to effectuate a partnership transaction with a national eyecare private equity platform.

• Represented a small ophthalmology practice in the Northeast in its sale transaction to a private equity platform in the Mid-Atlantic region.

• Represented a small ophthalmology practice in Florida in its sale transaction to an eyecare private equity platform based in the Southeast.

• Represented ASCs owned by ophthalmologists in sales to a private equity-backed platform.

• Represented ophthalmology group in acquiring an ASC.

• Publications Relevant to All Physician Specialties

• "Management Services Organizations: A Growing Strategy for Physician Groups," Medical Economics (September 2025)
• "Healthcare M&A Mid-Year Insight," Modern Healthcare (August 2025)
• "What You Need to Consider Before Selling Your Practice," Medical Economics (July 2025)
• "How to Understand the Difference Among Potential Buyers of Your Medical Practice," Medical Economics (June 2025)
• "Healthcare M&A Insights: Q4 2024 & 2025 Look Ahead," Modern Healthcare (February 2025)
• "Healthcare M&A Insights: Q3 2024 & End-of-Year Outlook," Modern Healthcare (December 2024)
• "Corporate Practice of Medicine: A 50 State Survey," American Health Law Association, Third Edition (May 2024)
• "Health Care M&A Insights: Q4 2023 & Outlook for 2024 Deal Activity," Modern Healthcare (February 2024)
• "10 Areas PE Firms Need to Address in Healthcare Add-on Deals," Mergers & Acquisitions (July 2023)
• "Why So Many Physicians Are Partnering with Private Equity," Medical Economics (June 2023)
• "Preparing to Sell a Medical Practice," Thomson Reuters Practical Law (April 2023)
• "Health Care Transactions Manual: Understanding the Consequences of the Health Care Deal," American Health Law Association (March 2020)
• "Corporate Practice of Medicine: A 50 State Survey," American Health Law Association, Second Edition (January 2020)

• Ophthalmology, Retina and Optometry

• "U.S. Ophthalmic Market: A Wave of Consolidation," Vector Medical Group (March 2022)
• "Is Private Equity Really for You?," Ophthalmology Management (January 2020)
• "PE's Laser Focus On Ophthalmology," Ophthalmology Management (May 2019)

• Events Relevant to All Physician Specialties

• "7th Annual Physician Transactions Conference: The Future of Healthcare Conference Series™ " (February 2024)
• "Private Equity Physician Deals: What Investors, Physicians, and Hospitals Need to Know in 2023," American Health Law Association (AHLA) Health Care Transactions 2023 Conference (April 2023)
• "The Anatomy of a Private Equity Transaction and Process," 6th Annual Physician Transactions Conference: The Future of Healthcare Conference Series™ (March 2023)
• "The (Still) Robust Market for Physician Groups," 6th Annual Physician Transactions Conference, The Future of Healthcare Conference Series™ (March 2023)
• "The Anatomy of a Physician Group Transaction with Private Equity," 2022 Physician Transactions Conference (March 2022)
• "Key Terms and Protections for Physicians in Sale Transactions," Physician Transactions Conference, The Future of Healthcare Conference Series® (February 2022)
• "The Process of Undergoing a Strategic Medical Practice Transaction," 2021 Physician Transactions Conference (April 2021)
• "Assessing Strategic Options and Practice Value in the Wake of the Pandemic," 2021 Physician Transactions Conference (April 2021)
• "Exit Planning and Strategic Transactions for Physician Groups," AllianceBernstein (June 2020)
• "Part 3: The Transaction Process, Key Protections for Physicians, and How to Prepare," Physician Group Transactions 2020 (May 2020)
• "Part 2: Beyond the First Partnership – Second Bites and More," Physician Group Transactions 2020 (April 2020)
• "Part 1: What's Going On, and What Do You Need to Know?," Physician Group Transactions 2020 (April 2020)
• "Executive Session: Gary Herschman on Private Equity Investment in Healthcare," Medical Group Management Association (April 2019)