Quigley Eye Specialists

New Harbor established an investment thesis in eye care services in 2017 due to persistent demand growth for comprehensive vision services, driven by an aging population, increasing prevalence of vision-impacting diseases, and expanding insurance coverage. In addition, technological advancements supporting surgical techniques allow for safer and expanded treatment of disorders, providing opportunities for enhanced clinical outcomes and growth. Southwest Florida has approximately twice the proportion of 65 and older residents compared to the national average, resulting in significant underlying demand for ophthalmic and optometric services. As an established presence in the Southwest Florida eye care market, New Harbor believed that Quigley Eye Specialists was favorably positioned to fill this need.

Quigley Eye Specialists was founded in 1988 by Dr. Thomas Quigley, a specialist in cataract surgery. At the time of New Harbor’s investment, the Quigley Eye Specialists team consisted of five full-time ophthalmologists, three part-time retina specialists, and eight optometrists, collectively performing approximately 175,000 procedures annually across eight clinics – including a wholly-owned ambulatory surgery center (ASC).

Our investment management plan focused on building out the team and infrastructure in an effort to accelerate growth. Key initiatives included implementing technology and systems to improve operations, enhancing the corporate support structure, and investing in resources to broaden the service offering, as well as systematizing provider recruitment and deploying refined marketing techniques. To further accelerate growth, Quigley Eye Specialists completed eight acquisitions during New Harbor’s investment period, including several transformative acquisitions that provided entry into new markets as well as expansion into multiple ASCs.

New Harbor exited its investment in Quigley Eye Specialists in August 2024.