VSP Global® Completes Visionworks Acquisition

Tuesday, October 1, 2019 General News
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RANCHO CORDOVA, Calif., Oct. 1, 2019 /PRNewswire/ -- In furthering its vision to provide more access to affordable, high-quality eye care and eyewear, VSP Global® announced today it has completed the acquisition of San Antonio, Texas-based Visionworks.

"With the close of this acquisition, we can provide more value

to our clients and members and respond to their expectations for a substantial, consistent, and sustainable retail eye care experience, underscored by the professional care of VSP network doctors," said Michael Guyette, President and CEO of VSP Global. "The addition of Visionworks marks a major milestone in VSP Global's 65-year history, supporting our mission of helping people see and keeping us well-positioned to better compete and grow membership in a changing marketplace."

Pete Bridgman, President of Visionworks, will report to Guyette effective immediately. Visionworks will continue to operate independently while VSP Global assesses business integration opportunities in the months ahead.

With more than 700 stores in nearly 40 states, the acquisition marks the largest network investment by VSP Global.

About VSP GlobalVSP Global is a doctor-governed company that exists to create value for members and opportunities for VSP network doctors. Our industry-leading businesses include VSP® Vision Care, the only national not-for-profit vision benefits company, which provides access to eye care for nearly 90 million members through a network of over 40,000 doctors worldwide; Marchon® Eyewear Inc., one of the world's largest designers, manufacturers and distributors of high-quality eyewear and sunwear; VSP Optics, industry leaders in ophthalmic technology and lab services, providing custom lens solutions for the vision and lifestyle needs of patients; Eyefinity®, the industry leader in practice management and electronic health record software; VSP Retail, which focuses on increasing access to eye care and eyewear through multiple channels, and VSP® Ventures, which offers care-focused, customized choices for doctors looking to transition their practice.

About Visionworks Visionworks is the sixth largest optical chain in the United States. A leading provider of eyewear and eye care services, the company proudly serves customers through more than 700 locations in nearly 40 states and the District of Columbia. With high quality products and expert associates, Visionworks helps its patients maintain their vision with comprehensive eye exams and with over 1,500 frame options at every location. Visionworks prides itself in helping every customer find a look that fits with their personal style. At Visionworks, we stand for more than just eyeglasses. We are over 8,000 people strong who are in some way in charge of one of humankind's most precious senses – sight. We are devoted to healthy eyes and passionate about delivering flawless vision by ensuring every person who visits our stores and affiliated doctors has an incredible experience that is unexpectedly simple. We believe in our commitment and promise to make sure our patients and customers always see great.

Media Contact:Jon Schullerjon.schuller@vsp.com916.851.6331

 

Cision View original content:http://www.prnewswire.com/news-releases/vsp-global-completes-visionworks-acquisition-300928811.html

SOURCE VSP Global



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