Pine Tree Expands iCare Health to South Carolina and Georgia

Pine Tree Equity IV, LP (“Pine Tree Equity”), a private equity firm based in Miami, FL, is pleased to announce that iCare Health Solutions, LLC (“iCare”) has partnered with the management of Physicians Eyecare Plan, LLC (“Physicians Eyecare”) in April 2021.  iCare is already the largest integrated provider of eye care in Florida as both the largest “at risk” managed service provider as well as the largest ophthalmology and optometry provider with over 55 locations.  With its investment in Physicians Eyecare, Pine Tree has expanded iCare to South Carolina and Georgia.

Physicians Eyecare, founded in 1991 by Dr. William J. Fogle and headquartered in Charleston, SC, is a leading benefits provider for ophthalmology and optometry services primarily in South Carolina and secondarily in Georgia.  Physicians Eyecare serves over 120 thousand members and maintains a network of over 400 ophthalmology and optometry providers. More specifically, Physicians Eyecare operates two complementary business lines: i) contractual, “at risk” eye care benefits to employer groups and ii) capitated, “at risk” eye care benefits to health plans.

Physicians Eyecare marks Pine Tree Equity’s 85th investment since inception in 2007 (i.e., 29 platform and 56 add-on acquisitions).  Pine Tree is actively searching for additional ophthalmology and optometry investments. We are pleased to offer traditional referral fees for a closed transaction based on a signed fee agreement. For additional information, please call Jeff Settembrino at (305) 808-9820.