Private equity giants are circling eye care assets as the sector becomes one of the hottest targets for dealmakers. Goldman Sachs, Gryphon Investors, MidEuropa, and Olympus are among the firms actively pursuing platform investments and consolidation opportunities in ophthalmology, according to industry sources.

The valuations reflect strong demand for stable healthcare assets. Platform investments in eye care can command EBITDA multiples ranging from 12-20x, while add-on transactions are fetching stable multiples between 5-11x, according to a Focus Investment Management report published earlier this year. These premiums underscore the sector's predictable cash flows and defensive characteristics.

Eye care assets spanning pharmaceuticals and retail have caught the attention of dealmakers seeking to build scaled platforms through acquisition. The elevated multiples PE firms are willing to pay signal confidence in the sector's growth potential and ability to deliver consistent returns despite broader market volatility.