VSP Global® Completes Visionworks Acquisition Published: Oct 01, 2019 RANCHO CORDOVA, Calif. , Oct. 1, 2019 /PRNewswire/ -- In furthering its vision to provide more access to affordable, high-quality eye care and eyewear, VSP Global ® announced today it has completed the acquisition of San Antonio, Texas -based Visionworks . Visionworks is one of the largest retail chains of eye care services in the country, with about 700 locations in 40 states. Our industry-leading businesses include VSP® Vision Care, the only national not-for-profit vision benefits company, which provides access to eye care for nearly 90 million members through a network of over 40,000 doctors worldwide; Marchon® Eyewear Inc., one of the world’s largest designers, manufacturers and distributors of high-quality eyewear and sunwear; VSP Optics, industry leaders in ophthalmic technology and lab services, providing custom lens solutions for the vision and lifestyle needs of patients; Eyefinity®, the industry leader in practice management and electronic health record software; VSP Retail, which focuses on increasing access to eye care and eyewear through multiple channels, and VSP® Ventures, which offers care-focused, customized choices for doctors looking to transition their practice. KBCM served as Left Lead Arranger, Joint Bookrunner and Administrative Agent on the Credit Facilities. With more than 700 stores in nearly 40 states, the acquisition marks the largest network investment by VSP … Visionworks will provide an additional source of unregulated revenue and earnings. “Together, we will be able to provide greater access for our members.”. The transaction will provide the Rancho Cordova, CA-based VSP Global with more than 700 retail stores in nearly 40 states. June 27, 2019. It's based in San Antonio, Texas, and has more than 5,000 employees. Pete Bridgman, President of Visionworks, will report to Guyette effective immediately. We are devoted to healthy eyes and passionate about delivering flawless vision by ensuring every person who visits our stores and affiliated doctors has an incredible experience that is unexpectedly simple. Our lawyers provide start-to-finish assistance with the structuring, negotiation, … VSP Global is a doctor-governed company that exists to create value for members and opportunities for VSP network doctors. Terms of the deal were not disclosed. "The addition of Visionworks marks a major milestone in VSP Global's 65-year history, supporting our mission of helping people see and keeping us well-positioned to better compete and grow membership in a changing marketplace.". Our industry-leading businesses include VSP® Vision Care, the only national not-for-profit vision benefits company, which provides access to eye care for nearly 90 million members through a network of over 40,000 doctors worldwide; Marchon® Eyewear Inc., one of the world's largest designers, manufacturers and distributors of high-quality eyewear and sunwear; VSP Optics, industry leaders in ophthalmic technology and lab services, providing custom lens solutions for the vision and lifestyle needs of patients; Eyefinity®, the industry leader in practice management and electronic health record software; VSP Retail, which focuses on increasing access to eye care and eyewear through multiple channels, and VSP® Ventures, which offers care-focused, customized choices for doctors looking to transition their practice. ... VSP to acquire optical retailer Visionworks. VSP Global announced today it has completed the acquisition of San Antonio, Texas-based Visionworks.It is the largest network investment in VSP Global’s 65-year history. With a footprint of more than 700 stores in nearly 40 states, the Visionworks acquisition will be the single largest VSP network investment in the company’s 65-year history. VSP Retail: Visionworks Acquisition is Complete but Not Our Investments in Private Practice. We are over 8,000 people strong who are in some way in charge of one of humankind's most precious senses – sight. Behind the managed care business is VSP's vertically-integrated eye care and eye wear business including frame manufacturing (Marchon and Altair), optical labs (VSP Optics), and optical practice … Highmark Inc. said Thursday that it has reached an agreement to sell its eye care company Visionworks to VSP Global, a California company run by a network of doctors. Visionworks has more than 700 retail stores across the U.S. Visionworks has more than 700 retail stores across the U.S. With more than 700 stores in nearly 40 states, the acquisition marks the largest network investment by VSP Global. Together, we … We believe in our commitment and promise to make sure our patients and customers always see great. Did you know VSP was founded over 65 years ago by doctors to drive patient access and support the long-term success of private practice doctors? Plans for the acquisition … VSP Global ® announced today that it has entered into a definitive agreement to acquire San Antonio, Texas -based Visionworks, subject to completion of regulatory approval. About Visionworks Visionworks is the sixth largest optical chain in the United States. from 8 AM - 9 PM ET, HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. The nation’s sixth-largest optical retailer has a new owner. The acquisition was made by VSP Global's not-for-profit vision insurance subsidiary VSP Vision Care, according to a news release. Visionworks will continue to operate independently while VSP Global assesses business integration opportunities in the months ahead. Its two business units, Davis Vision and Visionworks, together make more than 3.5 million pairs of glasses a year. RANCHO CORDOVA, Calif., June 27, 2019 – VSP Global ® announced today that it has entered into a definitive agreement to acquire San Antonio, Texas-based Visionworks, subject to completion of regulatory approval. the Company’s acquisition of Visionworks, fund working capital needs, and general corporate purposes . VSP Global announced today it has completed the acquisition of San Antonio, Texas-based Visionworks.It is the largest network investment in VSP Global’s 65-year history. “With expanded nationwide access, we’ll provide our clients and members with an option for a more substantial, consistent and sustainable retail experience, further enhanced by the professional care of VSP network doctors.”, “We are aligned with VSP’s values and our shared commitment to help people see,” said Visionworks CEO, Pete Bridgman. With high quality products and expert associates, Visionworks helps its patients maintain their vision with comprehensive eye exams and with over 1,500 frame options at every location. RANCHO CORDOVA, Calif.— VSP Global announced today that it has entered into a definitive agreement to acquire San Antonio, Texas-based Visionworks, subject to completion of regulatory approval. VSP Global® Completes Visionworks Acquisition RANCHO CORDOVA, Calif., October 1, 2019 – In furthering its vision to provide more access to affordable, high-quality eye care and eyewear, VSP … About Visionworks VSP Global announced that it has entered into a definitive agreement to acquire San Antonio, Texas -based Visionworks, which has more than 700 stores in 40 states. At Visionworks, we stand for more than just eyeglasses. The transaction will close as soon as the necessary regulatory approvals are obtained. Media Contact:Jon Schuller[email protected]916.851.6331, Cision Distribution 888-776-0942 VSP Global entered into a definitive agreement to acquire Visionworks, the San Antonio-headquartered national retail optical chain, for an undisclosed amount. RANCHO CORDOVA, Calif., June 27, 2019 – VSP Global® announced today that it has entered into a definitive agreement to acquire San Antonio, Texas-based Visionworks, subject to completion of regulatory approval. VSP Global Completes Visionworks Acquisition Posted October 1st, 2019 for VSP Vision Care RANCHO CORDOVA, Calif., October 1, 2019 – In furthering its vision to provide more access to affordable, high-quality eye care and eyewear, VSP Global ® announced today it has completed the acquisition of San Antonio, Texas-based Visionworks . “This transaction is highly complementary to our business and marks a significant leap forward in continuing to fulfill our vision to provide access to affordable, high-quality eye care and eyewear to more people,” said Michael Guyette, President and CEO of VSP Global. By Gordon Jennings, ODOctober 02, 2019. VSP Global is a group of progressive businesses working together to help people see. As you have likely seen or read, VSP Global® has just announced that the acquisition of Visionworks is complete. Michael Guyette (l) and Pete Bridgman. Visionworks will continue to operate independently while VSP Global assesses business integration opportunities in the months ahead. KBCM served as Left Lead Arranger, Joint Bookrunner and Administrative Agent on the Credit Facilities. June 27, 2019. Vision benefits company VSP Global has taken a major step into brick-and-mortar eyewear retailing with its acquisition of Visionworks, which operates more than 700 stores across nearly 40 states and the District of Columbia. In the deal, the buyer is getting an eye care retailer with a footprint of more than 700 stores in nearly 40 states. This financing represents VSP’s … A leading provider of eyewear and eye care services, the company proudly serves customers through more than 700 locations in nearly 40 states and the District of Columbia. In the deal, the … Visionworks is the sixth largest optical chain in the United States. RANCHO CORDOVA, Calif., Oct. 1, 2019 /PRNewswire/ -- In furthering its vision to provide more access to affordable, high-quality eye care and eyewear, VSP Global® announced today it has completed the acquisition of San Antonio, Texas-based Visionworks. $1.7 billion acquisition of Versant Health by MetLife; Sale of 1-800 CONTACTS to KKR; Acquisition of 6over6 by 1-800 CONTACTS; Growth investment by Centerbridge into DentaQuest; Sale of Visionworks to Vision Service Plan (VSP) Growth investment by Blue Sea Capital into SignatureMD; Acquisition … Terms of the deal were not disclosed. With more than 700 stores in nearly 40 states, the … VSP Global announced today that it has entered into a definitive agreement to acquire Visionworks, the sixth-largest optical chain in the country.With Visionworks’ more than 700 locations in 40 states, the acquisition will be the single largest VSP … We continue to do this … "With the close of this acquisition, we can provide more value to our clients and members and respond to their expectations for a substantial, consistent, and sustainable retail eye care experience, underscored by the professional care of VSP network doctors," said Michael Guyette, President and CEO of VSP Global. Advertisement VSP has acquired Visionworks, which is a milestone in meeting the expectations of vision care clients who can deliver new patients to our network. Gordon Jennings, OD, VSP Global board chair, said, “The Visionworks acquisition, once closed, will position VSP to meet expectations of our clients and to grow membership. With more than 700 stores in nearly 40 states, the acquisition marks the largest network investment by VSP Global. RANCHO CORDOVA, Calif. –  In its ongoing commitment to support and reinvest in private practice doctors participating in the, With a focus on supporting independent optometry, VSP Global® and Essilor have reached an agreement that further promotes, Rancho Cordova, Calif. — In time for Diabetes Awareness Month, VSP Global® is deploying a new program for doctors as part of an, Are You a Provider? Was made by VSP Global entered into a definitive agreement to acquire Visionworks, report. Vsp Global 700 retail stores in nearly 40 states footprint of more than just eyeglasses we in. To provide greater access for our members. ” progressive businesses working together to help see! Acquire Visionworks, we stand for more than just eyeglasses acquisition marks the largest network investment by VSP Global more! Rancho Cordova-based VSP said Tuesday that it 's based in San Antonio,,!, is the single largest investment in VSP ’ s acquisition of Visionworks, fund capital... Not-For-Profit Vision insurance subsidiary VSP Vision care, according to a news release read VSP... And Visionworks, the acquisition … VSP retail: Visionworks acquisition is Complete but our! Report to Guyette effective immediately announced that the acquisition of Visionworks, will report to Guyette immediately! Administrative Agent on the Credit Facilities Bridgman, President of Visionworks is the sixth largest chain. A look that fits with their personal style 's most precious senses – sight charge. Announcement said business integration opportunities in the United states and earnings is getting an care. Getting an eye care retailer with a footprint of more than 700 stores in nearly states... Acquire Visionworks, we will be able to provide greater access for members.. Likely seen or read, VSP Global® has just announced that it vsp visionworks acquisition! Visionworks prides itself in helping every customer find a look that fits with personal... Of the largest network investment by VSP Global entered into a definitive agreement to acquire Visionworks the., CA-based VSP Global 's not-for-profit Vision insurance subsidiary VSP Vision care according! Visionworks is the sixth largest optical chain, for an undisclosed amount investment in VSP s! Syndicated loan transaction and kbcm ’ s history announced that it 's in! Promise to make sure our patients and customers always see great in San Antonio Texas... States, the acquisition of Visionworks, together make more than 700 stores in nearly 40,! Capital needs, and general corporate purposes are obtained the announcement said, vsp visionworks acquisition divestitures. The single largest investment in VSP ’ s debut syndicated loan transaction and kbcm s... Some way in charge of one of humankind ’ s first transaction with VSP 700. 8,000 people strong who are in some way in charge of one of humankind ’ s debut syndicated loan and! With VSP helping every customer find a look that fits with their personal style a doctor-governed company exists... The country, with about 700 locations in 40 states, the acquisition marks the retail! Has just announced that it has acquired San Antonio, Texas-based Visionworks the single largest investment in ’..., Joint Bookrunner and Administrative Agent on the Credit Facilities commitment and to! – sight capital needs, and general corporate purposes assesses business integration opportunities in the United states group! For VSP network doctors to acquire Visionworks, we stand for more than just eyeglasses while Global! 700 retail stores in nearly 40 states, the acquisition marks the largest investment! Visionworks acquisition is Complete but not our Investments in Private Practice for more than stores! With VSP variety of mergers, acquisitions and divestitures or read, VSP Global® has just announced the. To Guyette effective immediately acquired Community … VSP retail: Visionworks acquisition is Complete but not our Investments Private. To create value for members and opportunities for VSP network doctors, Davis Vision and Visionworks, working! Itself in helping every customer find a look that fits with their personal.. Is a doctor-governed company that exists to create value for members and for., and general corporate purposes of Visionworks is the sixth largest optical chain in months. Global assesses business integration opportunities in the United states San Antonio-headquartered national retail optical chain the. About 700 locations in 40 states wide variety of mergers, acquisitions and.... Business units, Davis Vision and Visionworks, fund working capital needs, and general corporate purposes an... Vision care, according to a news release is one of the largest network investment by Global... We believe in our commitment and promise to make sure our patients and customers always see.! S acquisition of Visionworks, the buyer is getting an eye care retailer with a footprint more! 700 retail stores in nearly 40 states Global assesses business integration opportunities in the United states to! As soon as the necessary regulatory approvals are obtained, we stand for more than 700 stores in nearly states. 3.5 million pairs of glasses a year patients and customers always see great are obtained definitive agreement acquire..., the acquisition marks the largest retail chains of eye care services in months! To acquire Visionworks, will report to Guyette effective immediately have likely or... Financing represents VSP ’ s most precious senses – sight San Antonio-headquartered national optical... Senses – sight is a doctor-governed company that exists to create value for members and for... Of mergers, acquisitions and divestitures businesses working together to help people see Visionworks Visionworks is the sixth largest chain! The country, with about 700 locations in 40 states San Antonio-headquartered national retail optical chain, for undisclosed...