EyeCare Partners 2023 Earnings Seen Flat as Expansion Costs Bite

EyeCare Partners, the struggling US network of eye-doctor practices owned by private equity firm Partners Group, told its investors that 2023 earnings will be unchanged from the year earlier even after making $91 million in accounting adjustments.

In a call with investors and lenders last week, the company said adjusted earnings before interest, taxes, depreciation and amortization are expected to total $241 million for the year, according to people with knowledge of the situation.

First-quarter adjusted Ebitda slumped around 43% from the year-earlier period amid fading Covid relief funds, higher inflation and reduced medical insurance reimbursements, said the ...