Citizens Advises Ellipse Eye Group in Its Sale to ReFocus Eye Health

PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Ellipse Eye Group, LLC on its sale to ReFocus Eye Health, a portfolio company of Zenyth Partners.

Ellipse Eye Group is a consortium of eight preeminent northern New Jersey ophthalmology practices, including Advanced Eye Care Center (Dr. Charles Reing), Associated Eye Physicians & Surgeons of New Jersey, P.A. (Dr. Kirk Tchorbajian, Dr. Ben Natale), Alden Leifer MD and Associates, Diane M. Hilal-Campo, MD, Eye Care Consultants of NJ, P.A. (Dr. Jai Parekh, Dr. Swati Parekh), Retina Associates of Northwest New Jersey (Dr. Ronald Sachs), Retina Consultants, P.A. II (Dr. Larisa Kayserman, Dr. Robert Vallar) and Westwood Ophthalmology Associates, P.A. (Dr. Patrick Chin, Dr. Glen Bianchi, Dr. Michael Fleischer, Dr. Jung Lee).

Ellipse Eye Care Steering Committee Chair Dr. Kirk Tchorbajian said: “The success of our new affiliation with ReFocus could not have been possible without the investment banking expertise of Andrew Male and the Citizens M&A Advisory team. In addition to leading a thorough review of our strategic alternatives, which allowed us to select ReFocus as our preferred partner, Citizens managed a transaction process that entailed eight simultaneous closings. We are grateful for their unwavering advocacy and are excited to grow our platform throughout the Tri-State market with ReFocus’ support.”

Citizens M&A Advisory Managing Director Andrew Male said: “The Ellipse transaction began as the vision of Dr. Kirk Tchorbajian to align northern New Jersey’s leading independent ophthalmology practices and has culminated in an exciting partnership with ReFocus, which will allow these preeminent physicians to continue their patient-centric practices and benefit from ReFocus’ support services. We are pleased to have advised the Ellipse owners through this transaction and are excited to see the group prosper in their partnership with ReFocus.”

Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 100 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens JMP Securities, LLC, a subsidiary of Citizens Financial Group (NYSE: CFG).

About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $222.0 billion in assets as of December 31, 2023. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,300 ATMs and approximately 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.