Through this acquisition, VSP is expanding its business in the Southeastern region of the U.S. CEC will continue to operate independently to grow its business while both sides assess future integration and expansion opportunities, VSP said. “This acquisition is a part of our broader strategy of accelerating membership growth to help fulfill our vision of providing access to affordable, high-quality eyecare and eyewear to more people,” said Kate Renwick-Espinosa, president of VSP Vision Care.
The acquisition, terms of which were not disclosed, is effective immediately. Amy Eatmon, president of Community Eye Care, who will continue in that role, said, “We are excited to grow Community Eye Care with VSP’s support while also remaining focused on what we do best, which is offering affordable vision plans that are easy to understand, administer and use.” CEC was founded in 1998 by Dr. Stephen Pollock, MD and Dr. Marvin Schrum, OD, who saw a need in the marketplace for an uncomplicated vision plan that is easy to administer and use. Over the years, as the company has grown, CEC’s mission has remained the same—to offer the simplest vision plan ever designed. CEC’s portfolio of clients includes hospitals, financial institutions, city and county governments, school systems, manufacturers and retailers.
A VSP spokesperson stated, “Everything will continue to operate as it has with no changes planned. VSP intends for CEC to operate independently to grow its business while both sides assess future integration and expansion opportunities.”
CapM Advisors acted as financial advisor to Community Eye Care. Wyrick Robbins Yates & Ponton served as legal advisor to Community Eye Care.
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