Greybrook Announces Passing of Founder Elias Vamvakas
TORONTO, July 11, 2024 /CNW/ - It is with heavy hearts that the Executive Team at Greybrook announces the passing of our cherished founder, Elias Vamvakas, today, after a courageous battle with pancreatic cancer. Elias was 65 years old.
Elias Vamvakas was a visionary leader whose entrepreneurial spirit and dedication laid the foundation for Greybrook, a distinguished Canadian private equity firm with investments in real estate and health care. Born in 1958 in Athens, Greece, Elias immigrated to Canada in 1966. His journey from an immigrant to a celebrated business leader was a testament to his relentless determination and exceptional acumen.
Elias's early career began at London Life, where he honed his sales and business skills. He then moved to Creative Planning Financial Group, eventually becoming its President. In 1992, Elias co-founded TLC Vision with Dr. Jeffrey Machat, a transformative business with a market capitalization of more than $1 billion at its peak. Under his leadership as CEO and President, TLC became North America's largest provider of laser vision correction, with over 100 laser eye clinics. These early accomplishments earned him accolades such as Canada's Top 40 Under 40, the Presidential Medal of Honor from Illinois College of Optometry in 1996, and E&Y's Canadian Entrepreneur of the Year award in 1999.
Elias's entrepreneurial endeavours extended beyond TLC. He founded and led several health care companies, including Occulogix, TearLab Corporation, and along with his partners, Sasha Cucuz and Peter Politis, co-founded Greenbrook TMS Neurohealth Centers, a leading provider of Transcranial Magnetic Stimulation (TMS) therapy that has provided over 1.5 million treatments to more than 47,000 patients struggling with depression in the US. His passion for excellence and innovation led to the founding of Greybrook more than 20 years ago, where he served as Chairman and Partner until his passing. Greybrook remains under the capable leadership of his partners, Co-CEOs Sasha Cucuz and Peter Politis, ensuring that Elias's vision endures.
"Words cannot describe the immeasurable impact that Elias has had over his distinguished career on those who had the privilege of building businesses with him and knowing him personally. He will be deeply missed, but his principles and intentions will live on, guiding our business decisions and honouring his spirit of entrepreneurship, partnership, and doing what is right," said Peter Politis, CEO of Greybrook Realty Partners.
Sasha Cucuz, CEO of Greybrook Securities noted, "Elias possessed an exceptional talent for recognizing and fostering potential in others. His leadership empowered those around him to excel, serving as a mentor to not only Peter and I but also executives across our numerous operating companies over the years. Our mission is to continue to build the incredible business we started together as partners and to ensure his legacy will live on through generations."
Elias was not only a business pioneer but also a devoted family man, survived by his wife of 30 years, Nancy (nee Fenwick) Vamvakas; their three children, Olivia (Daniel Welsh), Megan, and Michael; his father, Antonios Vamvakas; and his mother-in-law, Susan Fenwick. His dedication to his family was as unwavering as his commitment to his professional endeavours. Guided by principles of integrity, compassion, and excellence, Elias believed in doing the right thing, enriching the lives of those around him, and fostering a culture of care and respect—values deeply embedded in the ethos of Greybrook that will continue to steer us forward.
In this time of loss, we extend our heartfelt condolences to the Vamvakas family and to all who had the privilege of knowing Elias. His legacy of innovation, leadership, and compassion will continue to inspire us all.
About Greybrook
Greybrook is a Canadian private equity firm that invests in real estate development and transformative health care businesses. In the real estate sector, Greybrook actively invests in large-scale residential and mixed-use developments, playing an active management role alongside a roster of well-respected real estate developers to drive results for its equity investors. Within the health sector, Greybrook's management team has built a reputation for identifying businesses and opportunities at the forefront of change that advance human health. Some of the firm's investments include, Greenbrook TMS (NASDAQ: GBNH), a leading provider of TMS therapy, an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders with over 130 clinics across the U.S., founded by Greybrook, as well as a growing North American real estate portfolio comprised of more than 110 real estate projects, 70 million square feet of projected density with an estimated completion value of $38 billion. For more information, visit www.greybrook.com.
SOURCE Greybrook Realty
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