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Pharos Capital to Acquire Vantage Outsourcing, Build New Ophthalmology Services Platform

Deal marks first investment from Pharos Fund IV, focused on value-based care

DALLAS and NASHVILLE, Tenn., September 22, 2021-- Pharos Capital Group, LLC ("Pharos"), a middle-market private equity firm based in Dallas and Nashville, announced it has acquired Vantage Outsourcing® ("Vantage" or "the Company"), a leading cataract surgical service provider. Co-founder and CEO, Ann Deters, and President Chris Swing will retain a minority stake in the Company. Additional terms were not disclosed.

Founded in 1995 and headquartered in Effingham, IL, Vantage provides logistics support services for cataract and other ophthalmologic procedures. It helps hospitals, surgery centers, and physicians provide quality cataract services to their communities in a cost-effective and efficient way by enabling surgical facilities to deploy state-of-the-art cataract surgery equipment, instrumentation, disposables, and other supplies needed for cataract surgery. Vantage is active across more than 20 states, particularly in rural locations, throughout the Central, Midwest, and Southeast U.S.

Joel Goldberg, a Partner at Pharos, said, "Pharos has identified surgical support services for ophthalmology and other surgical specialties as a key area of interest for investment, with attractive demographic trends and a growing opportunity to improve outcomes for both patients and providers. There is a marked need for such services in rural areas, where long travel distances are an obstacle and access to care is often insufficient. We are excited to work with Vantage, which supports providers and offers vital services in areas that would otherwise go unserved."

Pharos is partnering with industry veteran Bradley Hill to build the company into a broad surgical support services platform through targeted acquisitions and organic growth. Mr. Hill will serve as Chief Executive Officer of Vantage. He was previously Chief Commercial Officer at RazorMetrics, a SaaS-based platform that increases transparency in prescription drug costs by delivering cost information to prescribing physicians. Earlier, he was president of Peak Health Solutions and held senior positions at a number of healthcare-related revenue cycle management and claims advisory companies.

Bob Crants, Founding Partner at Pharos, commented, "We are delighted to be working with Brad to help the platform build a powerful surgical support services network supporting a broad array of provider specialties. We will benefit from his background and expertise as we refine and build upon Vantage's proven model of contracting with clients to eliminate their inventory and equipment risk, thus allowing physicians and hospital partners to focus exclusively on providing high quality surgical services."

Ms. Deters noted, "I am pleased to bring in such a seasoned, strategic partner to help Vantage reach new goals in the next phase of its growth. Pharos's proven track record and significant resources will be invaluable as Vantage seeks to serve more communities, as well as expand into new service lines, outside of ophthalmology."

This marks the first investment from Pharos's latest flagship fund, Pharos Capital Partners IV, L.P., investing alongside its parallel fund, Pharos Capital Partners IV-A, L.P., a licensed Rural Business Investment Company. The funds will continue Pharos's mission of lowering costs, improving outcomes, and expanding access to care, particularly within underserved urban and rural communities.

About Vantage Outsourcing®

Vantage ( provides logistics support services for cataract and other ophthalmology-specific procedures. Its services include the latest equipment as well as individuals who are trained to assist the physician during surgery and manage patient flow. Vantage contracts with hospitals and other providers to eliminate their inventory and equipment risk and is active across more than 20 states throughout the Central, Midwest, and Southeast United States. A large proportion of its clients are in rural locations, allowing the company to support providers and offer services in areas that would otherwise go unserved.

About Pharos Capital Group

Based in Dallas and Nashville, Pharos Capital Group ( is physician-founded investment firm focused on growing healthcare companies that aim to lower the total cost of care, improve patient outcomes and expand access to care in underserved markets. Since inception, Pharos has invested in 55 companies and has over $1.2 billion of private equity assets under management as of June 30, 2021. Pharos typically invests $25-$50 million in rapidly growing middle market companies seeking later stage funding for internal growth, acquisitions, leveraged buyouts, management buyouts, or recapitalizations predominantly across healthcare sectors.

For business development opportunities with Pharos Capital Group, please contact Adam Persiani at 214-740-7003 or

Media Contact
Caroline Luz
Lambert & Co.
Joanne Lessner
Lambert & Co.

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