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Major Online Seller of Contact Lenses Acquired

Its brands include OptiContacts.com and ContactsExpress.ca.

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VANCOUVER — Hardy Capital, a Canadian investment firm, has acquired LD Vision Group, whose brands include OptiContacts.com and ContactsExpress.ca.

Financial terms of the deal were not disclosed.

LD Vision Group’s brands have delivered 2.7 million orders to more than 1.1 million customers. In 2018, the company generated approximately $50 million in revenue.

Arshil Abdulla, founder and CEO of LD Vision Group, said, “We are excited to take this next step in the company’s journey. We believe the optical market is preparing for a shift that will reshape the industry and partnering with the Hardy Capital team prepares us for this large and growing secular opportunity.”

Roger Hardy, CEO of Hardy Capital, previously founded the pioneering brand in omnichannel eyecare, Coastal.com. Coastal.com, owner of Clearly.ca and Lensway.se, grew to over $1 billion in aggregate eyewear sales across 120 countries and was listed on the NASDAQ before being acquired by Essilor in 2014 for $450 million.

“More than 70 per cent of North American adults have corrective vision needs, yet the eyecare industry continues to be plagued by high costs, low convenience, and inconsistent customer service,” said Hardy.

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“Arshil Abdulla, [co-founder and CMO] Fayaz Abdulla, and [COO] Sean Mitha are leaders in North America in technology, automation, and customer service in the category. We’re thrilled to be partnering with them to build a new platform for customers.”

Hardy Capital stated that it expects to announce broader expansion plans into the eyecare industry in coming months.

The purchase of LD Vision Group marks the second investment in the eyecare category by the Hardy Capital team. In 2018, the team made a seed-stage investment in Privé Revaux.

Since launching in 2014, INVISION has won 23 international journalism awards for its publication and website. Contact INVISION's editors at editor@invisionmag.com.

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10-Location Eyecare Group Is First to Join Medical Optometry America

The group has 29 optometrists.

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BLUE BELL, PA, and ASHBURN, VA — Medical Optometry America has signed an agreement with Associates in Eyecare – Optometrists, which will become first group of independent optometric practices to adopt the Medical Optometry America.

Associates in Eyecare – Optometrists has 29 optometrist working in the Northern Virginia and Washington, DC, areas.

“Many of us have known for some time that medical eye care is the future of our profession” said Robert Allen, OD, who serves as CEO of AIE, “and the state-of-the-art MOA System will allow our practices, and thousands more around the country, to accelerate this necessary advancement.”

Ken Krieg, CEO of Medical Optometry America, said, “MOA will provide independent optometrists the ability to participate in building a brand and practice management system that stands for exceptional medical eye care and inspires consumer confidence and demand for those services. In addition, optometry practices that choose to remain independent will now have viable marketing muscle to stay competitive in a fast-changing market.”

The foundation of the Medical Optometry System “is the creation of an education platform that facilitates the adoption of best practice protocols,” according to a press release.

Allen added, “We’re excited to be the flagship practice for MOA. No doubt the total MOA System will position us for the future and enable us to lead the transformation of our profession.”

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Vision Care Company to Add 8 Centers Across US

The practices are in California, Florida, Michigan and Texas.

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Treehouse Eyes, a company specializing in myopia care for children, has added 8 location in four states.

The practices are in California, Florida, Michigan and Texas, Healio.com reports.

The company’s original two locations are located in the Washington, DC-area communities of Bethesda and Tysons Corner, according to its website.

Healio.com quoted Gary Gerber, OD, co-founder of the company, saying, “By partnering with carefully vetted practices that meet certain predetermined requirements, we will rapidly accelerate myopia management within those practices and will continue our growth across the country and are currently lining up partners outside the U.S.”

Gerber said 20 more practices will be added to the U.S. network in 2020.

Read more at the Healio.com

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Sports Eyewear Brand Acquired

Its products include sunglasses, goggles, helmets and prescription eyewear.

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BOSTON, MA — Bollé Brands announced that it has acquired the Spy Optic brand, a move that “signals a strong commitment to playing a leading role in the premium performance sports and sports lifestyle eyewear and helmets markets.”

Financial terms of the deal were not disclosed.

Founded in 1994 and based in Southern California, Spy Optic designs, markets and distributes premium sunglasses, goggles, helmets and prescription eyewear. Spy Optic joins Bollé’s brand portfolio of Bollé, Bollé Safety, Serengeti, Cébé and H2Optix.

“We are excited to have acquired such an amazing brand. SPY Optic has its own unique and irreverent identity with huge growth potential in North America, its home market, and internationally where SPY Optic will leverage our Bollé Brands international distribution network,” said Peter Smith, CEO of Bollé Brands. “Our dedicated approach, support, and investment will drive exciting new developments in product innovation and design which will form the basis of considerable global growth. This new acquisition establishes Bollé Brands as one of the key players in the premium performance sport and lifestyle eyewear and helmets markets.”

Bollé was acquired by A&M Capital Europe in August 2018.

 

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