Harris Williams & Co. Advises ICON EyeCare on its Merger with Kleiman | Evangelista Eye Center

December 15, 2016

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, announces the merger of ICON EyeCare (ICON), a leading provider of a full range of medical eye care solutions, with Kleiman | Evangelista Eye Center (K&E). Harris Williams & Co. served as the exclusive financial advisor to ICON on the company’s capital raise with Cortec Group (Cortec). The transaction was led by Andy Dixon, James Clark, Ricky Ng and Andrew Hoft of Harris Williams & Co.’s Healthcare & Life Sciences (HCLS) Group.

“ICON has quickly become a premier platform in the industry as well as the leading provider of medical eye care services in the Texas and Colorado markets and is very well positioned to continue its impressive growth trajectory. ICON’s management team has done a tremendous job creating a market leader through strong organic and acquisition-based growth with an intense focus on patient care and outcomes,” said Andy Dixon, a director in Harris Williams & Co.’s HCLS Group. “We are thrilled to have represented the ICON shareholders in this transaction and look forward to following their continued success,” added James Clark, a managing director in Harris Williams & Co.’s HCLS Group.

Ryan Heckman, CEO of ICON, shared his appreciation for the opportunity, “We could not have accomplished our goals without the team at Harris Williams & Co. They went above and beyond every step of the way, guiding us and allowing our management team to continue focusing on the day-to-day business during a very complex time for our company. We are very grateful.”

Founded in 1999, ICON operates 11 comprehensive ophthalmology clinics and five specialty surgery centers throughout Colorado and Texas. With a growing number of locations to better serve patients for surgical eye care procedures including laser cataract surgery, glaucoma, retina care and LASIK, ICON continues to build upon its vision as a center of ophthalmological excellence.

Founded in 1983, K&E is a premier eye care provider serving the north Texas market and expands ICON’s existing footprint in the Texas region to become one of the top providers in the state. Significant cross-pollination of best practices between K&E and ICON will further provide better care to its patients and provide a stronger platform for its doctors and care teams.

Cortec is a private equity firm that focuses on healthcare, consumer and specialty products and service businesses in the U.S. and Canada. It invests in companies with enterprise values of $40 million to $300 million, attractive margins and strong cash flows, in addition to pursuing smaller follow-on acquisitions. Cortec’s team of highly committed, long-tenured professionals manages more than $2 billion of capital. Since 1990, Cortec has acquired more than 75 platform and add-on businesses and raised six institutional funds. Cortec was founded in 1984 and is based in New York.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s HCLS Group has experience across a broad range of sectors, including multi-site and retail healthcare providers (including dental care providers); alternate site care; healthcare IT; managed care and cost containment services; medical devices, products and distribution; outsourced clinical services; and outsourced pharma services. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.