Caisse de dépôt invests $25M in LASIK MD
Caisse de dépôt et placement du Québec has announced a $25million investment in LASIK MD, Canada’s laser vision correction leader. This investment, which is part of a broader financing plan to foster LASIK MD’s global expansion, will help finance the acquisition of a minority interest in Vision Group Holdings (VGH). The later, an American leader in laser vision correction, operates more than 140 clinics dispersed throughout 40 states and Canada.
Penetration in the U.S. market will strengthen LASIK MD’s competitive position. Exchanging business and scientific best practices with its new American partner will also help LASIK MD to enhance its offerings.
The VGH investment is the first step in LASIK MD’s international growth strategy. LASIK MD, which holds a substantial share of the Canadian laser vision correction market, is now looking to expand abroad. La Caisse, in its new partnership role, intends to finance various acquisitions that LASIK MD will pursue in North America and Europe during the coming months.
“La Caisse has established a long-term financing strategy to assist LASIK MD in making acquisitions internationally and generating value for its shareholders and our clients,” says Christian Dubé, Executive Vice-President, Québec at la Caisse. “With its high-quality management team, innovative technologies and structured development plan, LASIK MD is well positioned to become a key global stakeholder in its industry.”
“We’re pleased to partner with la Caisse, a world-class Québec investor that has a strong track record in providing support and capital to businesses seeking to expand through acquisitions,” says Dr. Mark Cohen, Co-Founder of LASIK MD. “Given our strength in the Canadian market, international acquisitions are central to our strategic development. We have found a financial partner capable of supporting our long-term growth in global markets,” adds Dr. Avi Wallerstein, Co-Founder of LASIK MD.