Essilor Acquires Professional Eyecare Resource Co-Operative/Infinity Vision Alliance

(Press Release) Essilor announced today that it has acquired a majority interest in the Professional Eyecare Resource Co-Operative (PERC) and Infinity Vision Alliance (IVA), a group purchasing organization comprised of over 2,400 independent eyecare practices in the United States. The principals of PERC/IVA and Essilor have enjoyed a successful partnership for more than 25 years, and are united in their support of independent optometry through innovation, partnership and choice.

The alliance strives to achieve optimal value for its membership of more than 4,000 doctors through engagement within a narrow and elite vendor channel.

“By leveraging the expertise of PERC/IVA and the resources of Essilor, we will work together to accelerate growth in the eye care industry,” said Eric Leonard, President, Essilor of America. “This partnership advances our commitment to expanding innovation in the products and services we’re able to offer eyecare professionals, further enhancing their position in the industry.”

PERC/IVA will continue to operate independently, led by their current leadership team, and its members will continue to have choice across all services and products.

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).

About the Professional Eyecare Resource Co-Operative

The Professional Eyecare Resource Co-Operative (PERC) functions as a group purchasing organization (GPO) and is comprised of many of the most successful independent eyecare practices in the United States. Based in Southern California, members work together to achieve value for the group as a whole. PERC is free to join, and members are not subject to monthly or annual fees. The co-operative model aligns PERC member practices with the nation's leading suppliers to secure top-tier pricing and access to greater resources that are not available to individual practices. Not only do members get group buying power and other professional services, they also get private access to a collaborative website where they can leverage the experience, knowledge and tools of their top-performing peers.

About Infinity Vision Alliance

Infinity Vision Alliance (IVA) is a doctor alliance based in Southern California. IVA negotiates maximum discounts with partner companies and passes the entire discount on to their members, regardless of the size of practice. Using their alliance of offices across the nation enables any practice to have the buying power of a multi-million dollar network of practices. Growth programs are optimal for IVA members as their practices have enjoyed sustained growth over the industry averages. Members also have access to a broad range of practice management education through webinars and roundtable discussions that have become the cornerstone of their education programs.