HeadlinesEyecare Group Receives ‘Substantial’ Investment, Acquires 2 Practice Groups It’s planning for rapid growth over the next few years. Published 4 months agoon January 9, 2019By INVISION Staff Share Tweet DALLAS — Acuity Eyecare Group, a portfolio company of Riata Capital Group, has received a “substantial” equity investment from J.P. Morgan Asset Management.The investment “positions Riata to achieve its stated plan of building Acuity to 200-300 locations over a three-to-five-year period through the acquisition of additional regional eyecare groups and independent optometry practices,” according to a press release.Financial terms of the investment were not disclosed.Acuity now owns nearly 90 locations across eight states under 10 different local brands, as well as a digital lab operation, The First Look Lab, located outside St. Louis. The company expects to exceed 100 locations in early 2019 based on eyecare groups under letter of intent and its pipeline of prospects.In the same release, Riata announced that Acuity has acquired two new regional eyecare groups, totaling 18 locations:ABBA Eye Care, based in Colorado Springs, CO, which operates 13 full-service optometry locations in Colorado Springs, Pueblo, Alamosa, Aurora, Fountain, Gunnison, La Junta, Lamar and Pagosa Springs.EyeCare Specialties, based in Lincoln, NE, which operates five full-service optometry locations in Lincoln, Beatrice and Fremont.Eric Anderson, CEO of Acuity Eyecare Group, said: “We are very excited and privileged to add ABBA Eye Care and EyeCare Specialties to our growing Acuity family. Both brands share our values and core purpose as a caring community of local eye care providers. These practices are a great fit for Acuity given their focus on patient care and full-scope optometry. We are very pleased to have received such positive response in the marketplace, as eyecare groups and their providers are enthusiastic about partnering with Acuity.” Advertisement Jeff Fronterhouse, managing partner of Riata, said: “We are excited to have J.P. Morgan Asset Management join us as an equity partner as we continue to build Acuity Eyecare Group into a market-leading eyecare platform. And the addition of ABBA Eye Care and EyeCare Specialties, two medically-oriented optometry groups, is a terrific way to finish out a strong 2018 for Acuity Eyecare Group. We look forward to continued growth and expansion in 2019.”Related Topics:acquisitionAcuity Eyecare HoldingsLatest News Top click to Comment(Comment)Up NextBausch & Lomb to Pay $135K in Settlement Over Packaging of Eye Drops, Contact Lens SolutionDon't MissCooperVision Makes an Acquisition Advertisement SPONSORED VIDEOSPONSORED BY WALMAN OPTICALPeople Want to Buy Premium ProductsWalman Optical Presents—Industry Myths Busted! It’s up to every ECP to explain that “premium” doesn’t mean expensive—it means “customized to your needs.”You may like Optometry College Graduates Its First OD/MBA Student CPP Announces 2 Conferences in July 8-Location Eyecare Practice Closes Its DoorsPromoted Headlines Safilo’s “American Eyes” Video Celebrates Elasta and Emozioni starringECPs Peter Tacia and Heidi DancerSafilo Hoya: The Right Lenses for Sun ProtectionHoya Nano Vista—The Quintessential Line for KidsAlternative and Plan B EyewearHeadlinesOptometry College Graduates Its First OD/MBA Student She wanted a stronger understanding of the business side of optometry. Published 1 day agoon May 20, 2019By INVISION Staff PhillipsWhen Taylor Phillips graduated from the University of Alabama at Birmingham School of Optometry on May 10, she became the school’s first dual-degree doctor of optometry/master of business administration graduate, in a partnership with UAB’s Collat School of Business.UAB’s OD/MBA dual-degree program is intended to give future optometrists a business foundation and education that will help them navigate their future as potential private practices owners and healthcare providers, the school said in a press release.Phillips, a native of Gilbertown, AL, pursued the OD/MBA path to have a stronger understanding of the business side of optometry. She plans to enter private practice in rural and underserved Choctaw County upon completion of a yearlong residency in Tuscaloosa.“In school, we learn clinical skills, develop strong patient interactions, understand the management of diseases and care, but we only learn about the top-line business aspects of our future career as optometrists,” Phillips said. “The completion of the OD/MBA program gave me the confidence to enter private practice, and I know it will help me give back to my community in a stronger way.”Phillips completed her MBA courses in conjunction with her optometry curriculum and with students from other schools on UAB’s campus. Collat offers similar dual-degree paths for dental, medical, public health, engineering and health administration graduates as well.While Phillips is the first OD/MBA graduate, several other students are currently enrolled in the program.“The UAB MBA prepares professionals to lead and manage a business enterprise in today’s dynamic marketplace,” said Eric P. Jack, dean of the Collat School of Business.“Research shows the MBA has been one of the most effective educational programs for changing the world by enabling leaders to build strong, high-performing organizations and by leveraging the power of markets. We’re proud of this novel collaboration between the School of Optometry and the Collat School of Business.”Prospective students who are interested in learning more about the dual-degree paths offered through Collat School of Business can learn more here. Continue ReadingHeadlines8-Location Eyecare Practice Closes Its Doors It had operated since 1959. Published 2 days agoon May 19, 2019By INVISION Staff Union Eye Care, an eight-location practice in Northeast Ohio, has closed its doors.WOIO-TV in Cleveland reports that employees received an email on May 7 stating:“The Board of Trustees made the decision that Union Eye Care Inc. will be filing for bankruptcy. We will be closing all eight stores, our terminal optical lab and headquarters permanently effective Wednesday May 8, 2019.”The business opened in 1959.Advertisement Its website lists locations in Akron, Brunswick, Cleveland, Cleveland Clinic, Garfield Heights, Mentor, North Olmsted and Parma.WOIO reports that it was unable to reach Union Eye Care representatives by phone or email.Read more at WOIO-TV Continue ReadingHeadlinesShopko Optical Acquisition Completed; 80 Stores to Become Freestanding Locations The previous owner filed for bankruptcy. Published 5 days agoon May 16, 2019By INVISION Staff GREEN BAY, WI — Monarch Alternative Capital LP announced the completion of its previously announced acquisition of Shopko Optical.The company expects to relocate nearly 80 of its current locations housed inside Shopko stores to freestanding locations, according to a press release. Shopko is a retail chain that recently announced plans to wind down its operations.“We are excited to welcome Shopko Optical into our portfolio and to invest in the company’s growth as we move forward with our strategy,” said Andrew Herenstein, co-founder and managing principal of Monarch. “Monarch has a long, successful history of investing in great companies undergoing transitions and working alongside their leadership teams to build strong, vibrant businesses of the future.”Jim Eisen, former president of Visionworks, is working as an operating partner with Monarch alongside the Shopko Optical team.“I’m grateful for the opportunity to join the Shopko Optical team,” Eisen said. “We are committed to continuing to provide quality patient care and outstanding service that our affiliated doctors of optometry and opticians have provided for over 40 years. It is an exciting time to be part of the Shopko Optical family.”Over the course of 2019, Shopko Optical expects to relocate approximately 80 stores, while continuing to serve patients and customers in their existing locations during the transition.“As we move forward with our plans to operate 80 freestanding optical locations, we continue to be dedicated to our patients, doctors, opticians and the communities we serve,” said Russ Steinhorst, CEO of Shopko. “We encourage anyone with questions to please get in touch with our team. We appreciate the continued patronage of our patients and their understanding during what we hope to be a continued smooth transition.” Continue ReadingAdvertisementLatestTrendingVideos Danielle Richardson4 mins agoFeel Like Your Wellness Routine Could Be Missing Something? 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