VSP buying who?

[ADO]

Posted on V-mail today.

VSP Vision Care recently filed with California’s Department of Managed Health Care for approval of a planned $700 million acquisition of “all of the outstanding stock of a vision care company,” unnamed in the filing.

In a note to a financial statement filed with the department for the period ended March 31, VSP said it had entered into a definite agreement on April 30 to acquire the unnamed company, with financing for the purchase to be funded “through a combination of available cash and debt which is in the process of being arranged.”

The California filing said VSP also would file with the Connecticut Department of Insurance, and that “the acquisition is pending and subject to receiving such approvals.”

VSP executives declined to comment on the California filing; a company spokesman said VSP “can't comment on a filing that is still pending.” The spokesman also would not identify the other firm involved.

VSP has been in a strong expansion mode since last fall, first making an equity investment in Perfect Optics in Vista, Calif., then acquiring Legends 4.0, located near Dallas. On June 5, VSP announced it had acquired Tri-City Optical in Clearwater, Fla., in partnership with Carl Zeiss Vision, as well.

Rob Lynch, VSP’s president and chief executive officer, has publicly stated that the company is considering other lab acquisitions, possibly in partnership with lens suppliers. In a related development, VSP launched a private label line of progressive lenses this week.

[Russ in Texas]

I hope it's Davis Vision :angry:. That's absolutely the worst vision plan we take right now. It's a total ripoff for the optical in my opinion. I'd get rid of it but a company that I have a valuable safety eyewear contract with uses it. I'd take VSP over Davis any day.

[pga0008]

I have been hearing for a little while that VSP would be buying Marchon. But who knows. With all that money they can buy whom ever they want. Just think though, if the rumor about Marchon is true they then control half of an offices frames board and now lenses coming with lab. So the path is use our frames, with our private label lens and send it to our lab.

[buckeyeguy]

if thats true good bye Marchon

[ADO]

I am wondering if the name of the company and the motive behind it are not in the announcement already.

[Johns]

if thats true good bye Marchon

Why? Hasn't VSP built the Altrair line into a megapower house? I'll bet I have 10 people a day coming in and saying, " I'd like to see something in the Altair line".
:bbg:

[Grubendol]

I have heard Marchon from several sources too.

And Marchon's a little different from Altair.

[buckeyeguy]

Why? Hasn't VSP built the Altrair line into a megapower house? I'll bet I have 10 people a day coming in and saying, " I'd like to see something in the Altair line".
:bbg:

Yeah they are our top sellers!;)

[wolfman]

It would be nice if it was Spectera. I doubt that I'm that lucky though.

[obxeyeguy]

I hope it's Davis Vision :angry:. That's absolutely the worst vision plan we take right now. It's a total ripoff for the optical in my opinion. I'd get rid of it but a company that I have a valuable safety eyewear contract with uses it. I'd take VSP over Davis any day.

Would not happen. Highmark owns davis, and oh, buy the way, owns VIVA!!!! They can have both of them for all I care.

[Johns]

I find it amazing all the folks that are hoping VSP will buy another 3rd party that they don't like! If that keeps happening, and there's only VSP left...then what do you hope for.

I wish some of these folks could experience a world, not long ago, where you had a say in what you charged for your services.

I can't believe the number of practitioners (not just on this board) that have the attitue of, "Well, at least they allow us to make___much."

ON a side note: Has anyone recieved the mailing from VSP disparaging Luxottica? It's a real laugher! It says something like " Over 40% of Eyemed members get their eyewear from a Luxottica chain store." It just goes to show that VSP is feeling the heat from all sides.

Turn up the heat!!:angry:

[bob_f_aboc]

If all "insurance" was to go back to the days of "Major Medical" where you didn't use insurance for a cold or a cut but only for major expenses (hospital, surgery, trauma care, etc.) this industry would be able to lower prices and make more.

As long as the insurance companies dictate how much we charge patients, nobody but the insurance companies will make money.

[Uncle Fester]

I just love the smell of Optidirt in the morning.

Smells like------Victory.

[Andrew Weiss]

I just love the smell of Optidirt in the morning.

Smells like------Victory.

For whom?

G'day, Fester, hope all's well in my old digs.

[Chris Ryser]

I just love the smell of Optidirt in the morning.

Smells like------Victory.

Fester................Could you define that word a bit closer ? Was not able to find in dictionary.

[Uncle Fester]

For whom?

G'day, Fester, hope all's well in my old digs.

I just can't help a chance at using a good Apocalypse Now quote (paraphrase).

[Uncle Fester]

Fester................Could you define that word a bit closer ? Was not able to find in dictionary.

Optidirt-A rumor, usually unsubstantiated, about something of or relating to the optical world.:)

PS- Been using it since before there was an Optiboard.

[cocoisland58]

if thats true good bye Marchon

Only carry Nike so no big deal and our rep already jumped ship to another company. Lots of jumping around with our reps lately but all seemingly good moves.

[cocoisland58]

Why? Hasn't VSP built the Altrair line into a megapower house? I'll bet I have 10 people a day coming in and saying, " I'd like to see something in the Altair line".
:bbg:

This office has been with VSP for ten years and not once have I ever heard anyone ask for Altair. Seriously.

[cocoisland58]

Yeah they are our top sellers!;)

You don't really carry Altair do you?

[bob_f_aboc]

This office has been with VSP for ten years and not once have I ever heard anyone ask for Altair. Seriously.

Sure you have, "Where are those ones that are free with my insurance?"

(Translation: Please show me the Genesis line of eyewear manufactured by Altair Eyewear.)

[Johns]

As long as the insurance companies dictate how much we charge patients, nobody but the insurance companies will make money.

:cheers::cheers::cheers:

[optical24/7]

As long as the insurance companies dictate how much we charge patients, nobody but the insurance companies will make money.

As long as offices keep accepting these plans, you'll be dictated too. Just stop taking them! There is life (and profit) without accepting any insurance!

:cheers:

[ADO]

I don't believe it is a frame company or an insurance company. I am guessing it is a lab and lens manufacturer. Strictly a guess though.

[bob_f_aboc]

As long as offices keep accepting these plans, you'll be dictated too. Just stop taking them! There is life (and profit) without accepting any insurance!

:cheers:

If I was in the position to make those descisions for my office I would have long ago. Unfortunately, I'm not and can't afford to open my own shop. So I am stuck here for at least the time being.