Colorado Retina Associates affiliated with Retina Consultants of America

Overview

Deal Type Mergers & Acquisitions
Client & Transactional Partners Colorado Retina Associates
Retina Consultants of America
Webster Equity Partners
Our Role Sell-Side Advisor

Summary

Cain Brothers, a division of KeyBanc Capital Markets, served as exclusive financial advisor to Colorado Retina Associates on its strategic affiliation with Retina Consultants of America, a comprehensive physician management services organization formed by Webster Equity Partners.

CRA retained Cain Brothers due to its extensive history of advising physician practices, expertise in ophthalmology and retina, and deep relationships with the relevant buyers. This transaction continues Cain Brothers’ strong track record in the multi-site physician services sector and is the fifth retina specialty practice Cain Brothers has represented.

Colorado Retina was founded in 2006 through the merger of three independent practices and has grown to include 13 board-certified and fellowship-trained ophthalmologists in the greater Denver-Boulder metropolitan area. The practice is comprised of 180 employees across eight locations who care for more than 71,000 patients annually.  CRA has participated in more than 115 clinical trials and is currently participating in 30 clinical trials for AMD, Inherited Retinal Disease, Retinal Vein Occlusion, and Diabetic Retinopathy and Uveitis.

Retina Consultants of America is a network of leading retina specialists with the mission of saving sight and improving patient lives through innovation and the highest quality care. Through RCA’s physician-centered practice management model, physicians continue to drive clinical care and practice culture, while benefitting from the business expertise, resources and shared best practices available through RCA.

Webster Equity Partners specializes in buying and building middle-market businesses in partnership with management across the healthcare services industry. Webster provides equity financing, expertise and a broad contact network for management buyouts and growth capital.

Cain Brothers

Colorado Retina Associates

Recent Deals

July 2025

a portfolio company of 

and

$1.815 Billion

Senior Secured Credit Facilities

$900 Million

8.50% First Lien Secured Notes due 2032

Joint Lead Arranger
Joint Bookrunner

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June 2025

 

El Camino Commons

$74.8 Million

Construction Loan & LIHTC Equity

el-camino-commons
June 2025

Hill Estates

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$67.5 Million

Bridge to Perm Loan, Acquisition

hill-estates
June 2025

thermogenics

a portfolio company of

audax

acquired by

morgan stanley

Sell-Side Advisor

thermogenics

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