Unifeye Vision Partners (UVP), a growing ambulatory surgery center (ASC) operator in the ophthalmology sector, is shaking up its leadership as it navigates a consolidation wave in the outpatient surgery space.
The company on Sept. 29 announced that Mark Garvin will take over as CEO, succeeding Martin Rash, who will shift into the role of executive chairman.
Garvin brings more than 30 years of health care experience into the role, including senior positions at Banner Health and a nearly 20-year stint at United Surgical Partners International (USPI). At USPI, he helped scale the ASC business through both organic growth and acquisitions – expertise that UVP intends to tap in its next phase.
“I’m honored to join UVP and partner with physicians and our teammates to expand patient access, enhance the overall experience, and grow our integrated ASC and clinic presence in existing and new markets,” Garvin said in a press release. “We will focus on measurable outcomes, operational excellence, talent growth and a differentiated patient experience to deliver value for all key stakeholders across the organization.”
The board – including Waud Capital Partners, UVP’s founding investor – emphasized that Rash leaves the company on solid footing.
“Marty helped lead the Company successfully during a period of significant growth, and the business is in a strong position today because of his great leadership,” Chris Graber, partner and head of healthcare with Waud Capital Partners, said in the release.
UVP is a physician-led management services organization (MSO) that supports ophthalmology and optometry practices with clinic operations, administrative services and surgical facilities.
As of the announcement, UVP supported 66 clinic locations and 19 ASCs.
The company has aggressively expanded its footprint. In May 2025, it struck a partnership with Brooks Eye Associates and secured growth capital from Morgan Stanley Private Credit and PGIM to boost operations in new and existing markets.
Earlier, it added Spencer Eye Center in Ventura County, California.
The move comes amid ongoing consolidation in the ASC space. Though around 68% of ASCs remain independent, investors continue to push platform plays that can deliver scale, efficiency and better negotiating power with payers.
In the ophthalmology subsector – where more cataract, glaucoma and retina procedures are being performed in outpatient settings – there is heightened interest from private equity and MSO models.
Currently, the space is challenged by stark price differences in ophthalmology procedures, even within the same state and payer systems.
For example, recent research found that the median facility fee for cataract surgery ranged from under $1,000 at some centers to more than $3,000 elsewhere. The data underscored how regional dynamics, payer mix and ownership structures – including physician-hospital joint ventures and private equity-backed networks – can dramatically shape pricing power and margins.
Among Waud Capital’s other portfolio companies are Altocare, a provider of non-medical in-home senior care services; PromptCare, a chronic care platform operating within the home infusion and complex respiratory markets; and Ivy Rehab, a provider of management support services to outpatient physical therapy centers.
