Optometry practices provide primary eye care services including comprehensive eye exams, contact lens fittings, disease management, and optical retail, serving patients across all age groups. The industry is highly fragmented with tens of thousands of independent and small group practices across the U.S., making it an attractive target for consolidation by private equity-backed vision care platforms. Demand is structurally supported by an aging population, increasing prevalence of myopia, and growing awareness of preventive eye health.
Who buys these: Optometrists seeking to own their first practice, existing practice owners looking to expand, private equity-backed vision care consolidators, and ophthalmology groups seeking to add optometry services
3–5.5×
Typical EBITDA multiple
$1M–$4M
Revenue range
Growing
Market trend
SBA Eligible
7(a) financing available
Recession Resistant
Essential service
Buyers typically seek practices with $800K–$4M in annual revenue, EBITDA margins of 20–35%, a stable or growing patient panel of 2,000+ active patients, at least 3–5 years of operating history, diversified insurance mix with some private pay, and modern diagnostic equipment
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Key items to investigate when evaluating a Optometry Practice acquisition
Seller Intelligence
Who sells Optometry Practice businesses?
Retiring optometrists aged 55–70 who have built a solo or small group practice over 15–30 years, practice owners facing burnout or health issues, and optometrists seeking liquidity while continuing to practice under a larger platform
Typical exit timeline: 12–24 months
Optometry Practice businesses in the $1M–$4M revenue range typically sell for 3–5.5× EBITDA. Buyers typically seek practices with $800K–$4M in annual revenue, EBITDA margins of 20–35%, a stable or growing patient panel of 2,000+ active patients, at least 3–5 years of operating history, diversified insurance mix with some private pay, and modern diagnostic equipment
Optometry Practice businesses typically trade at 3–5.5× EBITDA in the lower middle market. The market is highly fragmented with growing demand, which supports premium multiples.
Optometry Practice businesses are SBA 7(a) eligible, making them accessible to first-time buyers. Asset purchase with seller financing covering 10–20% of purchase price and a 2–3 year transition employment agreement
Key due diligence areas include: Patient retention rates, active patient count, and recall program effectiveness; Insurance payer mix, contract terms, and reimbursement rate trends; Equipment condition, age, and upcoming capital expenditure requirements; Staff tenure, credentialing status, and non-compete agreements; Compliance with HIPAA, state optometry board regulations, and corporate practice restrictions.
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