Olympus Partners has agreed to sell EyeSouth’s retina business to Cencora for $1.1 billion, marking a major shift in the ophthalmology sector. The deal follows three years of EyeSouth’s rapid growth, during which it added over 130 physicians and expanded into Michigan, North Carolina, and South Carolina. Olympus Partners will retain the anterior segment of the business, while Cencora assumes control of the retina division.

This move highlights Olympus Partners’s strategic focus on separating EyeSouth’s anterior and posterior operations, a decision driven by long-term value optimization. The transaction underscores the growing consolidation in eye-care, with Cencora positioning itself as a key player in retinal treatments. Griffin Barstis, an Olympus partner, emphasized the firm’s pride in EyeSouth’s physician-led model, calling it a “patient-first, medically focused” platform.

The deal involves multiple financial advisors, including Jefferies LLC for Olympus and BofA Securities for Cencora. Legal counsel includes Kirkland & Ellis LLP and Sidley Austin LLP, reflecting the complexity of the transaction. Analysts note the sale signals a broader trend of specialized acquisitions in healthcare, with EyeSouth’s expansion into new states amplifying its regional footprint.

The $1.1 billion sale highlights the premium placed on retinal care expertise, as EyeSouth’s growth trajectory and physician network make it a valuable asset. This deal not only reshapes Olympus Partners’ portfolio but also sets a precedent for targeted divestitures in the eye-care industry.