(Press Release)
NORWALK, CT – Independent Doctors of Optometric Care (IDOC), a practice development organization, has acquired PRIMA Eye Group, a consulting firm catering to independent optometrists.
With the acquisition, IDOC remains the largest privately held alliance of independent ODs in the U.S., with approximately 3,100 member optometrists.
“IDOC and PRIMA share a passion for helping the independent optometrist be successful in private practice,” says Dave Brown, president and CEO of IDOC. “Together, we will be able to provide even stronger vendor programs, expanded resources and enhanced consulting services to help independent optometrists survive and thrive.”
The two companies will continue to operate as IDOC and PRIMA Eye Group during a phased integration period in 2016, with each maintaining their respective corporate headquarters – PRIMA in Atlanta, GA, IDOC in Norwalk, CT. Optometrist members of each group will be receiving information during the transition phase about how to avail themselves of the numerous offerings of each alliance.
Brown will serve as president and CEO, and the senior management team will include Oliver Spandow, current CFO of IDOC; and Neil Gailmard, OD, co-founder, president and COO of PRIMA, both reporting to him. Dr. Gailmard will serve as chief optometric officer of IDOC and will continue as president of PRIMA Eye Group.
“I look forward to working together to develop new strategies and programs to support independent optometrists,” says Dr. Gailmard. “I am very excited that we will bring even more capabilities and resources to help our members achieve great success in private practice.”
Jerry Hayes, OD, co-founder and CEO of PRIMA, will retire from the company effective June 30, 2016. In conjunction with the acquisition, IDOC founder and chairman Mark Feder, OD, will step down from his current role and will continue to remain involved with the company as an advisor to the senior management team.
Funding for the acquisition is being provided by The Riverside Company, a global middle-market private equity firm based in Cleveland and a partner with IDOC. Both Drs. Feder and Gailmard will retain ownership stakes in the new company.