Elman Retina Group

What Elman Retina Group does

Elman Retina Group is a private, physician-owned medical practice specializing in the medical and surgical treatment of retinal, vitreous, and macular diseases, founded by Dr. Michael J. Elman in 1993 and headquartered in Rosedale, Maryland. The practice operates five office locations across the Baltimore metropolitan area (Rosedale, Pikesville, Glen Burnie, Catonsville, and Columbia) and performs vitreoretinal surgery at Greater Baltimore Medical Center and the Surgicenter of Northern Baltimore. Its clinical service line spans diagnostic imaging (OCT, OCT-A, fluorescein angiography, widefield fundus photography, B-scan ultrasonography), in-office procedures (anti-VEGF and steroid intravitreal injections, laser photocoagulation, pneumatic retinopexy, cryopexy), and operating-room surgery (pars plana vitrectomy with 23-, 25-, and 27-gauge instrumentation, scleral buckle). The practice is also an active clinical research site, having participated in over 100 trials and serving as one of the top enrollment sites in the DRCR Retina Network.

The practice serves four primary patient segments: adults with macular and central vision diseases (primarily age-related macular degeneration), patients with vitreoretinal emergencies (retinal detachment, vitreous hemorrhage), patients with vascular and diabetic retinal disease, and patients with inflammatory, inherited, and pediatric retinal conditions. It is staffed by four fellowship-trained retina specialists — including two dual-fellowship trained in vitreoretinal surgery and uveitis/ocular immunology — with credentials from Johns Hopkins/Wilmer, Washington University, University of Chicago, NIH/NEI, Harvard/Mass Eye and Ear, and Baylor. The practice is academically affiliated with Johns Hopkins University School of Medicine and recognized by the American Society of Retina Specialists.

Revenue is generated through fee-for-service billing for consultations, diagnostic imaging, injections, laser treatments, and surgical procedures, paid by a diversified mix of insurance carriers including Medicare, Medicaid, BlueCross BlueShield, Aetna, Cigna, and UnitedHealthcare. Patient acquisition is driven primarily by a physician referral network (ophthalmologists, optometrists, primary care physicians) supported by same-day/next-day emergency availability, direct appointment scheduling, community engagement (Foundation Fighting Blindness VisionWalk), and digital channels including a newly redesigned website with patient portal and online bill pay (via InstaMed). The practice also participates in industry-sponsored clinical trials and offers remote monitoring through the ForeseeHome and Notal Vision Home OCT systems for patients at risk of neovascular AMD.

Name

Elman Retina Group

Legal name

Elman Retina Group, P.A.

Website

https://elmanretina.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

Elman Retina Group is a physician-owned medical practice in Baltimore, MD, founded in 1993, providing medical and surgical treatment of retinal, vitreous, and macular diseases across five office locations with four fellowship-trained specialists and an active clinical trials program.

Ownership category

akta.pro rank

Product category

Retinal Healthcare Services

NAICS

Diagnostic Imaging Centers (621512)

SIC

Services-Offices & Clinics Of Doctors Of Medicine (8011), Services-Health Services (8000)

akta.pro primary industry

Retina & Vitreous Specialists (HLAKAKAE)

akta.pro secondary industries

Ocular Imaging & Diagnostic Testing Centers (HLAKAKAN), Vision & Ophthalmic Diagnostic Centers (Optometry/OCT/Retinal Imaging) (HLAFAKAI)

Keywords

• Retinal surgery services
• Vitreoretinal care
• Macular degeneration treatment
• Diabetic retinopathy care
• Ophthalmology diagnostics

Headquarters

HQ city

Rosedale

HQ country

United States

HQ region

North America

Offices5 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 and Surgical Retina Services: The practice generates revenue through consultation fees, diagnostic imaging services, intravitreal injections (anti-VEGF, steroids), laser treatments, and surgical procedures (vitrectomy, scleral buckle, pneumatic retinopexy). Revenue is primarily fee-for-service based on medical procedures performed, billed to insurance.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Elman Retina Group is a physician-owned ophthalmology subspecialty practice that diagnoses and treats diseases of the retina, vitreous, and macula. The practice delivers medical treatments (intravitreal anti-VEGF and steroid injections, laser photocoagulation), surgical procedures (vitrectomy, scleral buckle, pneumatic retinopexy, cryopexy), advanced diagnostic imaging (OCT, OCT-A, fluorescein angiography, widefield fundus photography, B-scan ultrasonography), clinical trial participation, and home-based remote monitoring for AMD patients.

Product overview

Elman Retina Group is a dedicated surgical retina subspecialty practice offering the full spectrum of medical and surgical retinal care across five Baltimore-area locations. The practice provides diagnostic imaging services (OCT, OCT-A, fluorescein angiography, widefield fundus photography, B-scan ultrasonography), medical treatments (anti-VEGF injections, laser photocoagulation, steroid injections/implants), and surgical procedures (vitrectomy, scleral buckle, pneumatic retinopexy, cryopexy). The practice also operates an active clinical trials program and offers remote monitoring via ForeseeHome for AMD patients.

Differentiator

Problem solved

Functional benefit

Products and services

• Vitrectomy Surgery Microsurgical removal of vitreous gel to access and repair the retina, used to treat retinal detachments, macular holes, epiretinal membranes, vitreous hemorrhage, and diabetic tractional detachments. Performed with 23-, 25-, and 27-gauge instrumentation for adult and pediatric retina patients.

Quantifiable outcome

• Diabetic eye disease vision loss prevented in up to 95% of cases with early detection and treatment
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature7 records

Partnerships

Six partnerships are on record, tiered core.

• Notal VisioncoreStrategic or Co-development Partner · 1 January 2025Drs. Elman and Schechet participated in FDA study validating the usability and visualization performance of the Home OCT system. Dr. Elman presented results on Clinical Utility of Home OCT Data in Management of Neovascular AMD at Macula Society meetings.
• DRCR Retina NetworkcoreStrategic or Co-development PartnerAs one of the top research sites in the Diabetic Retinopathy Clinical Research Retina Network, the practice has contributed to landmark treatment breakthroughs for diabetic eye disease, macular degeneration, and retinal vein occlusion. Dr. Elman served as national Study Chairman of Protocol I, a pivotal trial published in NEJM that revolutionized DME treatment.
• Greater Baltimore Medical Center (GBMC)coreOthersFlagship surgical facility equipped with Alcon UNITY Vitreoretinal Cataract System featuring HYPERVIT 30K vitrectomy probe. GBMC is one of Maryland's premier academic medical centers.
• Surgicenter of Northern BaltimorecoreOthersState-of-the-art ambulatory surgery center featuring DORC EVA NEXUS vitrectomy platform with ultra-high-speed cutting and smart fluidics for stable intraocular pressure.
• American Society of Retina SpecialistscoreStrategic or Co-development PartnerProfessional society recognition for commitment and quality patient care. All four physicians are ASRS members.
• Johns Hopkins University School of MedicinecoreStrategic or Co-development PartnerDr. Elman serves as Assistant Professor of Ophthalmology. The practice maintains academic affiliation with Wilmer Eye Institute. Multiple teaching awards received from Hopkins.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Wills Eye Hospital: Premier U.S. ophthalmology specialty hospital and research institution; comparable subspecialty retina expertise and clinical trial leadership at a substantially larger institutional scale.
• Retina Consultants of America: PE-backed platform consolidating leading retina practices across the U.S. Represents the most relevant aggregator competing for the same independent retina practice M&A and referral ecosystems.

Direct peers

• California Retina Consultants: Multi-location Southern California retina practice with strong clinical research focus and partnership with Retina Consultants of America — a relevant model of an independent retina practice that scaled and joined a platform.
• Retina Associates of Cleveland: Multi-physician retina subspecialty practice in Northeast Ohio offering medical and surgical retinal care plus an active clinical trials program, comparable in scale and scope to Elman Retina Group.
• Vitreoretinal Consultants: Long-established New York-area vitreoretinal surgical practice with multiple specialists offering full medical/surgical retina services plus clinical research — directly comparable multi-physician subspecialty model.
• Mid Atlantic Retina: Affiliated with Wills Eye Hospital, Mid Atlantic Retina is a multi-location vitreoretinal specialty practice serving the Mid-Atlantic region with comparable surgical retina and clinical research offerings.
• Retina-Vitreous Associates Medical Group: Long-standing Southern California retina specialty practice offering medical and surgical retinal care, clinical research, and training affiliations with multiple subspecialists.
• Austin Retina Associates: Large multi-physician retina practice serving central Texas with full medical/surgical retinal care and an active clinical trials program — comparable in operating model and physician team size.
• The Retina Institute: Multi-location retina subspecialty group with research and teaching affiliations, comparable in physician scale, clinical trial participation, and surgical scope to Elman Retina Group.

Regional players

• Wilmer Eye Institute (Johns Hopkins): Same Baltimore metro market academic ophthalmology department; competing for complex retinal referrals, fellowship-trained talent, and research funding while operating from a different delivery model (academic medical center).

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ElmanRetinaMD
• Facebookfacebook.com/elmanretina

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Elman Retina Group