Connect with us

Headlines

Eyecare Equipment Firms Will Combine to Form New Company

It will be called Advancing Eyecare Holdings.

mm

Published

on

STAMFORD, CT — Private equity firm Atlantic Street Capital announced that it will form Advancing Eyecare Holdings with the partnership of its portfolio company Lombart Instrument — a distributor of ophthalmic instruments to ophthalmologists and optometrists — and Marco Ophthalmic Inc., a high-tech instrumentation supplier.

Financial terms of the deal were not disclosed. The transaction is subject to customary closing conditions and is expected to be completed in the first quarter of 2019.

Podcast: What Exactly Does it Take to Become America’s Finest Optical Retailer?
INVISION Podcast

Podcast: What Exactly Does it Take to Become America’s Finest Optical Retailer?

Podcast: Why Optical (and Especially Optical Retail) Is Lagging Behind Other Industries
INVISION Podcast

Podcast: Why Optical (and Especially Optical Retail) Is Lagging Behind Other Industries

Podcast: What the Heck is Marketing? And What Should ECPs Focus on to Attract New Clients?
INVISION Podcast

Podcast: What the Heck is Marketing? And What Should ECPs Focus on to Attract New Clients?

Gordon Siteman, CEO of Lombart, said, “Creating Advancing Eyecare with the partnership of two leaders in the eyecare instrumentation marketplace increases our ability to provide the doctor both the service and product offerings that suit their budget and their technology requirements. When completed, the combined organization will deliver the best solution at the best price for every practice’s needs.”

Upon completion of the transaction, David Marco will continue as a meaningful investor in the business and will join Advancing Eyecare as co-chairman of the newly formed company and help advise the senior management teams.

Marco said, “With this strategic partnership we will be ideally positioned to maximize value for both our customer and employees. It allows for expanded service capability for Marco and greater technology offerings for Lombart. The combined entity enhances and accelerates our unique abilities to modernize and maximize efficiencies of the Eye Care platforms.”

Bryan Bevin, senior operating adviser to Atlantic Street Capital’s portfolio companies, will serve as co-chairman of the Advancing Eyecare board.

Advertisement

Both he and Marco will oversee the operating and strategic guidance of all Lombart assets in the medical eyecare marketplace in North America, including Lombart Instrument, Marco Ophthalmic, Enhanced Medical Services and INNOVA Medical Ophthalmics (Canada and Mexico).

Andy Wilkins, managing partner of Atlantic Street Capital, said, “Since our acquisition of Lombart in 2016, we have steadily built the business through organic growth, as well as expanded into Canada with the acquisition of INNOVA and enhanced our pre-owned ophthalmic business with the acquisition earlier this year of Enhanced Medical Services.  The addition of Marco is another significant investment to strengthen Lombart’s position as a key partner for its customers, further extending our ability to deliver a breadth of clinical solutions.”

Advertisement

SPONSORED VIDEO

SPONSORED BY REICHERT

When You’re Passionate About Eye Care, the Right Technology Matters

Lisa Genovese, O.D., strives to give her patients the very best. At Insight Eye Care’s multiple locations, Dr. Genovese provides optimal care for her patients using the Reichert® Phoroptor® VRx Digital Refraction System. In this second Practice Profile Video from Reichert’s “Passionate About Eye Care” series, take a closer look and see how this eye care professional achieved a better work-life balance with equipment that’s designed and engineered in the U.S.A.

Promoted Headlines

Headlines

Dark Chocolate May Not Help Eyesight After All, Study Finds

The new findings conflict with earlier research.

mm

Published

on

A new study conflicts with earlier research that suggested that flavanol-rich dark chocolate helps with vision.

In the new study, German researchers selected 22 healthy participants to consume either 20 grams of dark chocolate (400 milligrams of flavanols) or 7.5 grams of milk chocolate, the American Optometric Association reports.

They evaluated the participants’ visual function and retinal perfusion two hours later.

The researchers found “no differences in the effect of dark vs. milk chocolate on subjective visual acuity or contrast sensitivity, no change in retinal vessel density and no difference in arterial pressure as measured by OCT angiography,” according to AOA.

The findings counter those of a 2018 study that showed a small improvement in visual function following consumption of 72% cacao dark chocolate. (That study did note that the effect was probably of little clinical relevance.)

The new research consisted of a small double-blind, randomized clinical crossover trial. It was published online on Sept. 26 in JAMA Ophthalmology.

The researchers say additional trials with larger sample sizes may help rule out or in possible long-term benefits of dark chocolate.

Continue Reading

Headlines

Optical Retailer to Add 25 Stores, Expand Into 4 New States

It’s entering the Florida, Maryland, Pennsylvania and Wyoming markets.

mm

Published

on

DALLAS –Dallas-based optical retailer Eyemart Express announced that it plans to have 25 new locations operating by the end up 2019.

The company currently owns and operates 206 stores in 38 states, according to a press release. It’s expanding into four additional states: Florida, Maryland, Pennsylvania and Wyoming.

“The drive behind our aggressive growth strategy is to make prescription eyewear accessible and convenient for more communities,” said Michael Bender, Eyemart Express CEO. “Seeing clearly should not be a burden or an excessive expense for any family. We work hard to make all our locations an affordable one-stop shop for all eyewear needs.”

Eyemart Express carries more than 2,000 frames for prescription glasses and sunglasses, ranging from exclusive private label brands to well-known brands such as Converse, Longchamp, Calvin Klein, Ray-Ban and Nike. Stores also feature onsite labs so 90 percent of glasses can be ordered and received on the same day.

“Eyemart Express’ growth helps entire communities as well. Job creation is an important factor in determining new store locations — we examine where Eyemart Express can make the biggest contribution to local economies with career opportunities,” said Bender.

More than 300 jobs will be created for hourly wage earners as a result of the optical retailer’s expansion.

Continue Reading

Headlines

Warby Parker Rolls Out 5 Extended Sizes

They range from ‘extra narrow’ to ‘extra wide.’

mm

Published

on

Eyewear  retailer Warby Parker is launching an “extended sizes” collection to help more consumers benefit from its products.

It features “five proportional sizes, ranging from ‘extra narrow’ to ‘extra wide’ and even including low bridge options,” the Observer reports.

Twenty-seven styles are available in seven best-selling frames.

To leverage augmented reality, the company utilized Apple’s ARKit and TrueDepth camera to create software that evaluates proper fit, according to the Observer.

Advertisement

Warby Parker co-founder Dave Gilboa was quoted saying, “We started getting feedback from our customers saying, ‘I love these styles, but you don’t have anything that fits me’ or ‘you only offer one frame that fits me.’”

Chain Store Age reports that Warby Parker spent two years developing the new sizes.

Continue Reading

Advertisement

Advertisement

Subscribe


BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Advertisement

Most Popular