EyeCare Partners Announces Refinancing Transactions, Secures New Money Investment

ST. LOUIS—EyeCare Partners LLC, a provider of clinically integrated eyecare, announced it has closed a private debt exchange with holders of a majority of its existing term loans. In addition, the company plans to launch a public debt exchange offer to remaining lenders, which is expected to further benefit the company through incremental debt discount capture and debt service flexibility. The completed transaction provides significant liquidity benefit through a combination of $275 million of new money, meaningful cash-to-paid-in-kind interest conversion and discount capture, according to the announcement.

Registration Opens for THE Myopia Meeting Vancouver, Scheduled for June 9

VANCOUVER—Registration has opened for THE Myopia Meeting’s first in-person meeting of the year, scheduled for Vancouver, Canada, on Sunday, June 9, 2024. The live, in-person meeting will feature four hours of COPE-approved CE presented by world-renowned experts in the field. Additionally, periodic clinical reviews will cover the latest diagnostic and monitoring technologies along with the newest treatments to slow the progression of myopia. Break times and lunch will provide peer-to-peer networking opportunities among eyecare professionals who are either starting their myopia management practice or growing an existing one. Registration is available online here.

VSP Vision Earns VETS Indexes 4 Star Employer Recognition

RANCHO CORDOVA, Calif.—VSP Vision has earned the designation of 4 Star Employer in the 2024 VETS Indexes Employer Awards, the company has announced. This marks the third consecutive year that VSP Vision was recognized for its commitment to recruiting, hiring, retaining, developing and supporting veterans and the military-connected community. “At VSP Vision, we understand the importance of supporting the career goals of military service members, veterans, and their families,” said Kristi Cappelletti-Matthews, VSP Vision chief human resources officer.

The Power of Reading Glasses

Just how valuable are a pair of reading glasses? According to a recent study, having access to a pair of readers can make all the difference, especially if you are presbyopic and live in a part of the world with limited access to eyecare and eyewear products. This past week, VisionSpring, a nonprofit provider of affordable eyeglasses to people in need, BRAC, an international development organization that works with marginalized communities, and Queen’s University Belfast released the findings of their collaborative THRIVE study, which found that a pair of reading glasses increases the earnings of people in low-income communities by 33 percent.  Ella Gudwin, CEO of VisionSpring, summed it up best when she said, “THRIVE strengthens the case that it’s not about the eyeglasses—it’s about everything that comes after.”

EssilorLuxottica Reports Solid Revenue Growth for Q1 2024

CHARENTON-LE-PONT, France—EssilorLuxottica announced yesterday that consolidated revenue for the first quarter of 2024 was €6,335 million, representing a year-on-year increase of 5.5 percent at constant exchange rates compared with the first quarter of 2023. Francesco Milleri, chairman and CEO, and Paul du Saillant, deputy CEO at EssilorLuxottica commented, “We’re pleased to report another solid start to the year for the company, with every geography and business contributing to the positive performance.” The initial quarter of 2024 grew mid-single digit in line with the company’s long-term guidance.