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