Ardian acquires a majority stake in Vista Vision, a leading Italian healthcare service provider specializing in ophthalmic and refractive surgery

Ardian, a world-leading private investment house, announces the acquisition of a majority stake in Vista Vision, a market leader in Italy in providing high-quality healthcare services in ophthalmic and refractive surgery. The founders and managers of the company, Mario Salmeri (Chairman and CEO) and Stefano Zanchi (CEO), will reinvest alongside Ardian, as well as Credem Private Equity SGR, already investor of Vista Vision since 2020.

Headquartered in Milan, where it was founded in 2003, Vista Vision’s network counts 12 clinics in Italy and 5 in Romania, focusing primarily on laser surgery for the correction of myopia and on cataract surgery.

Vista Vision partners with the best ophthalmologists, providing them with cutting edge operating rooms, state-of-the-art equipment, as well as qualified medical support staff.

With a team of 170 employees and collaborators and a widespread presence across Italy, last year the company was able to perform over 30,000 surgeries and expects to close 2024 with a revenue exceeding €65 million.

Vista Vision’s innovative and flexible business model enables the company to offer highly efficient, fast, and top-quality services. The demand for eye care services is experiencing steady growth rates within a sector that is still highly fragmented which offers significant investment opportunities aimed at further consolidation, with Vista Vision poised to play a key role. 

Since 2021, also thanks to the capital increase made by Credem Private Equity, the company has accelerated both its organic growth strategy, including the opening of three new clinics, and its M&A development through seven acquisitions, and further eight in pipeline in Italy. 

In addition to its consolidation strategy in Italy, the company plans to pursue further growth opportunities in Romania and other European countries.

“We are excited to collaborate with Ardian and start a new phase of strategic growth. We embarked on an important development journey when Credem Private Equity SGR invested in 2020, and are thankful for their crucial support over the years, which has enabled us to become a leader in the sector in Italy. With Ardian, we will continue on this ambitious path, with the goal of consolidating our presence in Italy and expanding into other European markets.” Mario Salmeri and Stefano Zanchi, Founders and Managers of Vista Vision

"We are delighted to start our partnership with Vista Vision. Mario and Stefano have been far-sighted in creating, over 20 years ago, an innovative business that offers top-quality services. We are confident that the company, a leader in the Italian market, is well positioned to become an aggregator in this highly fragmented sector. Our strategy will be focused on developing the network in Italy and expanding internationally.” Marco Molteni, Managing Director Expansion, Ardian 

“Vista Vision is an outstanding company in a high-growth sector. This investment is a key example of the Expansion team’s approach, based on partnerships with inspired entrepreneurs who reinvest alongside us to create value in high-potential market segments.” François Jerphagnon, Member of the Executive Committee, Managing Director Ardian France & Head of Expansion, Ardian

“Four years after our investment, Vista Vision has achieved growth more than tripling its turnover, establishing itself as a leading player in Italy and Romania in the treatment of visual impairments. Over the coming years, growth in international markets will become even more significant, and Ardian represents a key partner in terms of expertise and financial resources in this new phase of expansion”. Daniele Molinaro, CEO, Credem Private Equity SGR

“This transaction confirms the long-standing tradition and the excellent results achieved by Credem Private Equity in the development of Italian SMEs; the results obtained will bring value to all the subscribers of our Elite and CVC2 private equity funds”. Paolo Magnani, Wealth Management Area Coordinator for the Credem Group