North America's largest, independent optometric service alliance Vision Source, a portfolio company of Brazos Private Equity Partners of Dallas, announced today that it has entered into a definitive agreement to be acquired by Essilor. Both companies share in their longstanding commitment to continuously elevate independent optometry through innovation, partnership and choice. Vision Source will continue to be led and managed as an independent company by the current leadership team, which includes the company's Founder & Executive Chairman, Glenn Ellisor, O.D. The acquisition remains subject to standard regulatory approvals.
"This partnership brings together the global leader in the lens market with the leading U.S. platform of products and services for independent eye care professionals," said Ellisor. "We're certain that the expertise and resources that this new relationship offers our members will further bolster the success of their practices. We could not ask for a better organization to join forces with as we lead Vision Source into the future."
Vision Source, with Essilor's support, will further invest in eyecare professionals, providing them with a stronger position in the industry by offering them choice in a vast array of business tools, services and products they need to further enhance the patient experience.
"Our partnership with Vision Source is part of our overall strategy to offer ECPs choice in new and innovative solutions, business tools, services and products they need to enhance the patient experience," said Eric Leonard, President, Essilor of America, Inc. "We believe in the current Vision Source leadership and are committed to their strategy of supporting independent eyecare professionals in providing improved patient outcomes. We believe, working together, Essilor and Vision Source will enhance independent optometry by reducing the complexity and risk associated with managing the practice of the future."
About Vision Source
Founded in 1991, Vision Source is North America's largest service network of independent optometrists consisting of nearly 4,000 members. The clinicians in the Vision Source network enjoy access to newly evolving patient channels, including an expanding list of leading medical groups and integrated health systems with whom Vision Source optometrists collaborate. Additionally, members benefit from a wide range of innovative technologies, practice management tools, strategic marketing, and unsurpassed purchasing power. Leveraging these tools, the clinicians offer comprehensive eye care to their patients delivering an industry leading patient experience. For more information, call 888-558-2020 or visit www.visionsource.com.
About Essilor of America, Inc.
Essilor is the leading manufacturer of optical lenses in the United States and is the market leader in progressive, high-index, photochromic and anti-reflective coated lenses. A pioneer in the development and production of ophthalmic lenses, Essilor employs more than 10,000 people throughout North America. Essilor manufactures optical lenses under the VARILUX®, CRIZAL®, TRANSITIONS®, XPERIO UV™, DEFINITY®, THIN&LITE® and other Essilor brand names. Essilor Laboratories of America, Inc. is the largest, and most trusted, optical lab network in the U.S. and offers a wide choice of services and lens brands, including Essilor premium lenses, to eye care professionals across the nation. Essilor of America, Inc. (Essilor) is a subsidiary of Paris-based Essilor International, a publicly held company traded on the Euronext Paris stock exchange (Reuters: ESSI.PA).