INVISION VI («INVISION») has sold its majority stake in Alpina Eye Clinics as part of the sale of the entire company to Ophthalmologic Network Organisation («OnO»), a leading Swiss ophthalmology group.
Value creation during INVISION’s ownership
In 2019, INVISION acquired a stake in Alpina Eye Clinics, then still operating under the name Vista Alpina. Working closely with founder Dr. med. Kristof Vandekerckhove, INVISION has since grown the company into a nationwide ophthalmology group, always putting the highest medical quality and patient wellbeing first. Key contributors to this growth included the opening of new locations, the expansion of existing ones, and selected acquisitions across several cantons. Starting from two locations in the canton of Valais, Alpina Eye Clinics today comprises eleven locations in the cantons of Valais, Zurich and St. Gallen. Its 30 ophthalmologists and eye surgeons carry out more than 80,000 consultations and nearly 10,000 surgical procedures each year, ensuring accessible, patient-oriented eye care close to home in what are mostly peripheral regions.
An essential part of Alpina Eye Clinics’ development was the institutionalisation of both its clinics and the group as a whole. Alongside broadening the doctor team, this included various succession solutions for founding doctors, the establishment of administrative leadership functions at each clinic, and the creation of lean central structures for finance, procurement, marketing, HR and legal. This allowed the doctor teams to focus increasingly on medical care, while administrative tasks were professionally consolidated. In addition, all clinics are now certified as training facilities for aspiring ophthalmologists.
Transaction comments
Dr. med. Kristof Vandekerckhove, founder of Alpina Eye Clinics, explains: «INVISION supported us in growing a clinic with two locations in Valais into a group operating across Switzerland. With OnO, we have found a strong partner who preserves what we have built while opening up new opportunities for development. I look forward to actively helping shape this next step.»
Martin Spirig, Partner at INVISION, comments: «Together with Kristof Vandekerckhove, several other founding doctors, and the entire Alpina Eye Clinics team, we have built one of Switzerland’s leading ophthalmology groups. Joining OnO gives Alpina Eye Clinics a strong foundation to keep unlocking its potential. We warmly thank Kristof Vandekerckhove, the other founding doctors and the whole team for their work and trust, and wish them all the best for the future.».
Sven Ziegler, Director at INVISION, adds: «Alpina Eye Clinics and OnO complement each other excellently. Doctors, staff and patients alike will benefit from this combination.»
About Alpina Eye Clinics
Alpina Eye Clinics is one of the leading providers of ophthalmological healthcare services in Switzerland. Across eleven locations in the cantons of Valais, Zurich and St. Gallen, the group offers a broad range of treatments, from consultations to cataract surgery and intravitreal injections. While surgical procedures are performed at central hubs, conservative treatments are covered through a network of satellite clinics. The group employs more than 30 ophthalmologists and eye surgeons.
Further information is available at www.alpina-eye.ch
About INVISION
Since its foundation in 1997, INVISION has developed into one of the leading mid-market private equity firms in the German-speaking region. Its focus is on succession solutions and growth capital. INVISION has invested in more than 80 companies and has helped realize and sustainably secure value across a broad range of portfolio investments. INVISION sees itself as an entrepreneurial partner to founders, entrepreneurs and management teams. In its investments, INVISION places particular emphasis on understanding the specific needs of companies and business owners and on developing tailored solutions. INVISION invests in established mid-sized companies, particularly in succession situations.
Further information is available at www.invision.ch
About OnO
OnO is a leading ophthalmology group in Switzerland founded by Dr. med. Jérôme Bovet and backed since 2023 by a consortium of institutional investors Decalia Capital and Vivalto Partners. The group operates a network of 58 ophthalmology clinics across ten cantons, including Zurich, Fribourg, Schwyz, Lucerne, St. Gallen, Thurgau, and Schaffhausen in German-speaking Switzerland, and Geneva, Valais, and Vaud in French-speaking Switzerland.
Further information is available at www.ono.world
Contact
INVISION AG
Grafenaustrasse 7
6300 Zug / Schweiz
Tel. +41 41 729 01 01
Website: www.invision.ch
