FYiHealth Group of Canada is acquiring Montreal-based eyewear company WestGroupe.
WestGroupe will continue to operate independently from FYi Health, according to a press release. Financial terms of the deal were not disclosed.
“We are delighted to welcome the WestGroupe team to FYi Health Group,” said Dr. Alan Ulsifer, chairman and CEO of FYi Health Group. “The optical and eyecare market is changing, with new entrants constantly trying to disrupt the current procurement of eye care and eyewear. One of the main goals of this acquisition is to work with our industry colleagues and grow as a team to advocate for fair wholesale pricing in the market. This partnership will have a material positive impact for both FYidoctors and WestGroupe customers.”
Michael Suliteanu, president of WestGroupe, said, “Since its inception, WestGroupe has strived to be a leader in the North American optical industry by constantly trying to have a forward-looking approach to our business and industry. Our focus will always be to ensure that independent ECPs have the products and programs they need to be competitive in this ever-changing marketplace.
“Our partnership with FYiHealth Group will allow us to develop new ways to add value to our customer base. WestGroupe will continue to operate separately under the direct management of the Suliteanu family and Mike Debono. FYiHealth Group was formed with the vision that doctors joining forces would be the future of the profession and the industry. We are proud to be joining a team that has been a fierce advocate of this amazing industry we have in Canada.“