Private equity (PE). We would be remiss if we didn’t cover this topic periodically because it remains a prominent part of the retina community. Although soaring interest rates slowed PE acquisitions in 2023, reports suggest a resurgence in 2024. The S&P Global Market Intelligence 2024 Private Equity and Venture Capital Outlook found that 60% of PE executives expect improved acquisition rates this year—only 34% said the same last year.1

With this in mind, it’s a good time to revisit PE in retina. The debate about the benefits and drawbacks of PE rages on (as evidenced by the sessions at this year’s Vit-Buckle Society meeting in Miami, for any who attended), and most have strong opinions one way or the other. If you want to go down that rabbit hole, the July 2023 issue of the Journal of VitreoRetinal Diseases provided a rather succinct summary worth checking out (see The Private Equity Debate in the Literature). Two invited editorialists, Joel Pearlman, MD, PhD, and John T. Thompson, MD, shared their perspectives on PE in retina, each covering the same ground but with a different conclusion.2,3 Note that Dr. Pearlman is a co-chair of Retina Consultants of America’s Medical Leadership Board, while Dr. Thompson is a partner at his independent private practice.

THE PRIVATE EQUITY DEBATE IN THE LITERATURE

Private Equity: A Punctuated Equilibrium in Retina
By Joel Pearlman, MD, PhD

Private Equity Purchases of Retina Practices: Their Focus on Profit is a Threat to Healthcare
By John T. Thompson, MD

Rather than rehash their talking points, this issue of Retina Today Business Matters focuses on what matters most: patient care. Regardless of your practice setting, the patient always comes first. Jordan Nelson, with BSM Consulting, shares how PE-backed practices can preserve clinician autonomy and maintain a patient-centric approach—two keys to keeping the patient front and center.

If you’re tired of the PE discussion, skip right to the other articles in this issue. Joy Woodke, COE, OCS, OCSR, discusses strategies for avoiding buy-and-bill drug mistakes, our financial gurus focus on tools to secure your retirement, and members of Austin Clinical Research explain how they built their independent research center—and why you should consider creating one, too.

1. Private equity and venture capital industry shows resilience and optimism in 2024 amidst shifting market dynamics according to S&P Global Market Intelligence survey [press release]. PR Newswire. April 29, 2024. Accessed April 30, 2024. bit.ly/4aUKmOR

2. Pearlman J. Private equity: a punctuated equilibrium in retina. J Vitreoretin Dis. 2023;7(4):273-274.

3. Thompson JT. Private equity purchases of retina practices: their focus on profit is a threat to healthcare. J Vitreoretin Dis. 2023;7(4):271-272.