Midwest Eye Institute

What Midwest Eye Institute does

Midwest Eye Institute, P.C. is a private multi-subspecialty ophthalmology practice founded in 1982 and headquartered in Carmel, Indiana, with a second clinic in Greenwood. The practice delivers tertiary ophthalmic care across four subspecialty verticals — cornea and external disease, glaucoma, oculoplastic and orbital surgery, and vitreoretinal disease and surgery — staffed by 20+ fellowship-trained physicians operating as 10 affiliated practices under a unified administrative umbrella. Service delivery is anchored in a 40,000-square-foot facility housing ophthalmic surgery suites, advanced diagnostic imaging (OCT, OCT-A, OPTOS ultra-widefield fundus photography, mfERG, widefield fluorescein and indocyanine green angiography), and therapeutic modalities including anti-VEGF intravitreal injections, laser therapy, photodynamic therapy, vitrectomy, and corneal transplantation. The institute also functions as a clinical research site, with active participation in the DRCR Clinical Research Network, the SCORE Study, and most recently the Phase 3 AQUARIUS trial of Adverum's ADVM-022 gene therapy for neovascular AMD.

Revenue is generated through fee-for-service medical billing to insurance carriers and patient co-payments, with no public pricing disclosures and standard No Surprises Act co-pay, coinsurance, and deductible structures in effect. The go-to-market motion is sales-led in the B2B sense: the institute does not market directly to consumers but relies on referral relationships with general ophthalmologists, optometrists, and primary care physicians across Indiana, supplemented by 24/7 physician availability for consultations and emergencies. The practice complements its clinical operations through its co-founded management services entity Health Venture Management (HVM, formed 2007 with Indiana University Health), which oversees 9 outpatient surgery center companies and 14 ASC locations across central Indiana, and through academic partnerships with Indiana University School of Medicine, where multiple physicians hold faculty appointments and residents rotate.

The organization operates as a physician-owned professional corporation with no identified external private equity or venture capital ownership. Leadership consists of a Board of Directors (Richard A. Burgett, MD as President; Robert J. Boeglin, MD as Vice President), with Song Hua-Lonberger, MBA serving as Executive Director and COO overseeing HR, finance, contracts, IT, and facilities. The institute's value proposition to patients and referring providers centers on its combined subspecialty depth, academic affiliations, clinical trial participation, and nearly fifty years of continuous operation in central Indiana.

Name

Midwest Eye Institute

Legal name

Midwest Eye Institute, P.C.

Website

https://midwesteye.com

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

51–100 employees

Short description

Midwest Eye Institute is a private, physician-owned multi-subspecialty ophthalmology practice in central Indiana, founded in 1982, delivering tertiary cornea, glaucoma, oculoplastic, and vitreoretinal care through 20-plus fellowship-trained physicians across two Indianapolis-area clinics and serving more than 60,000 patient visits annually.

Ownership category

akta.pro rank

Product category

Specialty Ophthalmology Services

NAICS

Offices of Physicians (62111), Diagnostic Imaging Centers (621512)

SIC

Services-Offices & Clinics Of Doctors Of Medicine (8011), Services-Specialty Outpatient Facilities, Nec (8093)

akta.pro primary industry

Ophthalmology Clinics (Medical & Surgical Eye Care) (HLAKAKAC)

akta.pro secondary industries

Ophthalmology Surgery Centers (HLAFAIAF), Ocular Imaging & Diagnostic Testing Centers (HLAKAKAN), Comprehensive Eye Exams & Vision Care (HLAKAKAA)

Keywords

• Ophthalmology services
• Retina surgery
• Glaucoma treatment
• Corneal disease care
• Oculoplastic surgery

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Medical Services Billing: Fee-for-service medical care revenue from ophthalmic consultations, diagnostic services, and surgical procedures. Services are billed to insurance carriers and patients directly for co-payments and deductibles.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Midwest Eye Institute is a multi-subspecialty ophthalmology practice providing medical and surgical eye care across cornea & external disease, glaucoma, oculoplastic & orbital surgery, and vitreoretinal disease. Services are delivered through ten affiliated physician practices under a unified Institute umbrella at two clinic locations in central Indiana, supported by advanced diagnostics (OCT, widefield angiography, mfERG, OPTOS imaging) and ophthalmic surgery suites. Revenue is generated primarily through fee-for-service billing of consultations, diagnostic procedures, intravitreal injections, laser treatments, and surgical interventions to insured patients and referring physicians' patients.

Product overview

Midwest Eye Institute is a multi-specialty ophthalmology practice comprising independently operated practices specializing in corneal disease, glaucoma, oculoplastic surgery, and vitreoretinal disease. The institute operates two clinic locations in Carmel and Greenwood, Indiana, offering a comprehensive range of diagnostic services (including OCT, fluorescein angiography, visual field testing) and therapeutic treatments (surgical procedures, intravitreal injections, laser therapy). The institute provides a patient portal powered by MDIntellesys/MyPatientVisit for record access. Services are delivered through multiple affiliated physician practices under the unified Midwest Eye Institute brand.

Differentiator

Problem solved

Functional benefit

Products and services

• Corneal & External Disease Services Specialized ophthalmic care for corneal dystrophies, degenerations, infections, keratoconus, and related conditions, including surgical interventions such as corneal transplants and keratoplasty procedures. Provided by fellowship-trained corneal specialists for referred patients in central Indiana.
• Glaucoma Services Comprehensive glaucoma diagnosis and treatment including visual field testing, filtering surgery, laser procedures, and management of multiple glaucoma types (primary open angle, narrow angle, neovascular, pigmentary, traumatic, and secondary). Delivered by fellowship-trained glaucoma specialists.
• Oculoplastic & Orbital Surgery Surgical and cosmetic procedures for the eyelids, orbit, and lacrimal system, including blepharoplasty, reconstructive surgery, orbital tumor removal, and treatment of thyroid orbitopathy. Provided by fellowship-trained oculoplastic surgeons.
• Retina Surgeons & Vitreoretinal Disease Services Medical and surgical care for retinal conditions including macular degeneration, diabetic retinopathy, retinal detachment, uveitis, and intraocular tumors, utilizing advanced diagnostic imaging and surgical techniques. Provided by fellowship-trained vitreoretinal surgeons.
• Avastin Injections Intravitreal anti-VEGF injection therapy for treatment of age-related macular degeneration, diabetic macular edema, and retinal vascular diseases, delivered by Midwest Eye Institute retina specialists.
• Vitrectomy Microincisional vitreoretinal surgery for treatment of macular holes, epiretinal membranes, vitreomacular traction, retinal detachment, and vitreous hemorrhage.
• Optical Coherence Tomography (OCT) Non-invasive imaging technology providing cross-sectional images of the retina for diagnosis and monitoring of macular diseases, glaucoma, and retinal disorders.
• Fluorescein Angiography Diagnostic imaging procedure using fluorescein dye to visualize blood flow in the retina and choroid for evaluation of retinal vascular diseases and macular degeneration.
• MDIntellesys Patient Portal Web-based patient portal enabling patients to access eye care records with their Midwest Eye Institute provider at any time, view medical information, and manage appointments.

Quantifiable outcome

• 60,000+ patient visits annually
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Adverum BiotechnologiesminorStrategic or Co-development Partner · 6 April 2026Midwest Eye Institute serves as a clinical trial site for Adverum Biotechnologies' ADVM-022 gene therapy product (ixoberogene soroparvovec) in the Phase 3 AQUARIUS study for neovascular age-related macular degeneration. Neil P. Finnen, MD serves as Principal Investigator.
• Health Venture Management (HVM)coreOthers · 1 January 2007Health Venture Management (HVM) was formed in 2007 by Dr. Robert Boeglin and Dr. Naval Sondhi together with Indiana University Health. HVM develops and provides executive leadership and operational oversight to outpatient surgery center partnerships between physicians and IU Health. Currently manages 9 surgery center companies with 14 locations in central Indiana.
• Indiana University HealthcoreStrategic or Co-development PartnerIU Health partnership through Health Venture Management (HVM) for outpatient surgery center operations. Multiple surgery center partnerships between physicians and IU Health across central Indiana.
• Indiana University School of MedicinecoreStrategic or Co-development PartnerAcademic partnership with IU School of Medicine. Multiple physicians hold faculty appointments including Clinical Assistant Professor, Associate Professor, and volunteer faculty positions. Residents and medical students rotate through the institute.
• Retina Partners MidwestminorStrategic or Co-development PartnerMany retina physicians are affiliated with Retina Partners Midwest P.C., which conducts clinical trials. The IBC meeting minutes reference the institution as Retina Partners Midwest, P.C., Carmel, IN.
• Methodist Hospital (Historical)minorStrategic or Co-development PartnerMethodist Hospital, under the direction of Dr. Frank Lloyd, was a strong supporter in the early years of Midwest Eye Institute's founding in 1982.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• EyeCare Partners: Large PE-backed national ophthalmology and optometry platform with multi-subspecialty practices and ASCs. Comparable to MEI in offering multi-subspecialty ophthalmology across multiple locations, but at substantially greater scale and geographic reach.
• Mayo Clinic Department of Ophthalmology: National academic ophthalmology program offering the full subspecialty range with significant clinical trial activity. Overlaps with MEI on subspecialty depth and research involvement, at substantially greater scale.
• American Vision Partners: PE-backed multi-state ophthalmology platform with deep subspecialty coverage (glaucoma, retina, cornea, oculoplastics) and integrated ASCs. Direct functional analog to MEI's federated subspecialty model but operating across the Sun Belt.
• EyeSouth Partners: PE-backed network of affiliated ophthalmology and optometry practices concentrated in the Southeast and Midwest. Overlaps with MEI in retina/glaucoma subspecialty depth and physician-led practice affiliation model.
• University of Michigan Kellogg Eye Center: Major academic ophthalmology department with subspecialty clinics, ASCs, and clinical research infrastructure. Comparable to MEI in subspecialty breadth and academic affiliation, but at much larger scale and within a hospital system.

Direct peers

• Cincinnati Eye Institute: Midwest multi-subspecialty ophthalmology practice offering cornea, glaucoma, retina, oculoplastics, and refractive surgery across the Cincinnati metro. Closest functional peer to MEI in scale, subspecialty mix, and Midwest academic/regional brand.
• Barnet Dulaney Perkins Eye Center: Multi-subspecialty ophthalmology group (part of American Vision Partners) with retina, glaucoma, oculoplastics, and cataract services. Closely comparable to MEI in service mix, with broader Arizona coverage.

Emerging players

• Retina Consultants of America: PE-backed platform aggregating retina subspecialty practices. Overlaps with MEI's vitreoretinal and clinical-trial focus but is exclusively retina-specialized rather than multi-subspecialty.
• Visionary Eye Partners: Emerging PE-backed consolidator of ophthalmology practices. Relevant as a roll-up acquirer type that may approach MEI physicians or referral sources, with a comparable focus on subspecialty practices.

Regional players

• Arbor Centers for EyeCare: Chicago-area multi-subspecialty ophthalmology practice with retina, glaucoma, cornea, oculoplastics, and clinical trial activity. Comparable Midwest peer with similar subspecialty breadth, though serving a different metro.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Midwest Eye Institute