April 9, 2019
Creating a vision for change for an eye center – and its owner
When it comes to medical facilities, Dr. Dan Grossman of the Eye Center of Southern Indiana knows a thing or two about expansion and growth.
Grossman’s practice began in a 1,200 square foot, three-room facility in Bloomington, Indiana. Within a few years, he doubled the size of his space and was soon looking for an even larger facility. In 1989, he moved into the current space – then 16,000 square feet – that includes an upstairs clinic and downstairs surgery center. By 2000, he once again doubled his space to 32,000 square feet. Today, the practice sees 35,000 patients annually and conducts 4,000 surgeries per year.
“Other than family, the eye center building was one of my favorite things in life. So when Physicians Realty Trust first approached me, I had no interest in selling. At most, I thought maybe I could get a free appraisal out of the process,” jokes Grossman. “So I agreed to meet with them.”
After meeting with John Thomas, President and CEO with Physicians Realty Trust (traded on the NYSE as DOC), Grossman changed his mind about selling. The two discussed DOC’s current investments and future goals and decided to arrange a walk-through of Grossman’s facility. After the walk-through, Thomas and Grossman met again and this time, an offer was made.
“I was impressed with the organization and the facilities they are purchasing,” Grossman said. “I only had to think about the offer for a minute before saying, ‘Let’s go!’”
Grossman was so impressed with DOC that he – along with his wife and son – decided to invest in the company.
“Usually when you invest in a company, you don’t really know how it will turn out,” Grossman said. “But I know DOC better than any company I’ve ever invested in. The company has created a great culture and it’s because of the leadership from the top down. I have so much confidence in DOC and John Thomas. We share the same vision and it’s the type of group I want to be aligned with.”
"I was impressed with the organization and the facilities they are purchasing. I only had to think about the offer for a minute before saying, ‘Let’s go!’"
— Dr. Dan Grossman | The Eye Center of Southern Indiana