VANCOUVER, BC –– Specsavers has announced a $100 million investment plan to support the opening of 200 locations across Canada by 2024.
The funds will cover 100 percent of start-up costs for independent Canadian optometrists and opticians to launch community-based clinics and stores while creating 2,000 jobs across the country, according to a press release.
Founded in the U.K., Specsavers entered the Canadian market in November. The company describes itself as “the world’s largest optometrist-owned and -led business,” with 2,300 locations across 11 countries caring for 41 million patients and customers.
“We are placing a significant investment behind our offer of an alternative model that enables Canadian optometrists to put patients’ needs first while owning a thriving business and gaining access to cutting-edge technology,” said Bill Moir, general manager, Specsavers Canada.
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Specsavers, which entered Canada in November 2021, made this investment decision to boost clinic and optical store ownership by independent optometrists and opticians, and help them achieve success while remaining autonomous and patient-care focussed. Specsavers’ global purchasing power and international network of over 3,500 eyecare professionals will enable its Canadian clinics and stores to provide consumers with better patient care through investment in advanced clinical equipment and ongoing professional development, as well as increased choice of great value eyewear.
“Specsavers is redefining eye health accessibility for Canadians by delivering inclusive clinical care using advanced equipment and quality prescription eyewear,” said Dr. Ian Scholfield, Specsavers’ independent Optometry Partner in Nanaimo, B.C. “This is particularly important at a time when Canadians are spending prolonged time behind computers and devices, which can lead to eye health issues.”
Specsavers’ intent is to reverse the current trend of consolidation in the Canadian market where a small number of large players – owned by financial institutions, frame manufacturers, or large corporate parents – now own many of the once independently owned optical businesses and clinics in Canada.
“We are placing a significant investment behind our offer of an alternative model that enables Canadian optometrists to put patients’ needs first while owning a thriving business and gaining access to cutting-edge technology,” said Bill Moir, General Manager, Specsavers Canada. “By way of example, when Specsavers entered the Australian market, the advanced technology used by our professional partners doubled the national rate of detection of glaucoma, and increased diagnosis of other health conditions.”
Through this new investment initiative, Canadian optometrists and opticians will have an accessible opportunity to own a Specsavers clinic and optical store with the cost of establishing each business, which averages $500,000, covered by Specsavers.
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