FYihealth group (“FYi”), the parent company of FYidoctors, Visique, BonLook and solis optics, announced that investment funds managed by KKR, a leading global investment firm, will make a strategic investment in FYi. This announcement marks a new chapter of strategic partnership and investment behind FYi’s clinical model, broad-based ownership for doctors and staff, and continued expansion of access to high-quality eye care for Canadians.

Founded in 2008, FYi operates more than 370 optometry clinics and retail stores across Canada and the U.S. FYi is a doctor-led organization and its Doctor Advisory Committee, made up of practising optometrists from across the network, guide clinical standards, scope of practice, and the patient experience, with local clinical leadership serving as the foundation of every practice.

KKR’s prior investments in the optical sector include National Vision, 1-800 Contacts, Nexeye, and Topcon. KKR is making its investment through its Ascendant Fund as part of KKR’s Americas Private Equity platform.

With KKR’s support, FYi will continue to invest in:

• Doctor mentorship and personalized patient care across new and existing practices.
• Clinical capability, including advanced diagnostic technology, dry eye care, myopia management, and specialty services.
• Patient access to eye care, expanding into underserved urban, suburban, and rural communities.
• Continued growth of FYidoctors existing operations in the United States.
• A.I. and digital infrastructure that supports optometrists, reduces administrative burden, and elevates the patient journey and outcomes.

A doctor-led model, reinforced

FYi’s growth has always been built on practice-level clinical autonomy supported by national scale. The Doctor-Led Advisory Committee was established to empower practising optometrists to directly shape how the organization operates and what the future of eye care looks like as a whole, and it continues in that role with expanded resourcing as the organization scales.

“Our doctors built FYi, and our doctors continue to lead it. The Doctor Advisory Committee, our clinical governance, and our commitment to local leadership within a national platform remain central to how we operate. KKR shares that vision, and their investment gives us additional resources to support our doctors, our clinics, and the patients we serve.” Dr. Alan Ulsifer, Chair & Chief Executive Officer of FYihealth group

“For practising optometrists across the country, this strategic partnership brings additional resources to invest in our doctors, our clinics, and our communities, while preserving the clinical autonomy our model is built on. The Doctor Advisory Committee continues in its role, and the voice of practising doctors remains at the table as the platform grows.” Dr. Bunny Virk, Chair, FYi Advisory Committee

“FYi has built one of the most distinctive doctor-led healthcare platforms in the world, anchored by clinical integrity, strong leadership, and a clear commitment to patients. We are proud to serve as a strategic partner to Dr. Ulsifer, the Doctor Advisory Committee, and the entire FYi team and to support the next phase of their growth.” Felix Gernburd, Partner, KKR

Broad-based ownership for doctors and staff

KKR will support FYi in creating a broad-based equity ownership program, giving all full-time employees the opportunity to share in the benefits of ownership following the close of the transaction. KKR focuses on employee engagement and broad-based equity participation as a key driver in building stronger companies and expanding financial opportunity. Since 2011, 89 KKR portfolio companies have awarded billions of dollars in equity to more than 200,000 non-senior management employees globally.

Continuity for patients, doctors, and partners

There are no changes to clinic branding, day-to-day operations, insurer relationships, or how patients book and receive care. Existing clinical and operational leadership remain in place.

Financial details were not disclosed. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the coming months.

Click HERE for the press release.

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