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VSP Acquires Majority Interest in Two Labs

January 30, 2012 12:25 AM

RANCHO CORDOVA, Calif.— VSP Global, based here, recently acquired a majority interest in two wholesale prescription laboratories that it owns in partnership with Carl Zeiss Vision: Perfect Optics in Vista, Calif. and CZV Florida in Clearwater, Fla.

The Perfect Optics transaction involved VSP buying out shares of the company owned by individual members of its management team, according to VSP. However, the lab’s management, headed by Tom Brophy, remains in place. Perfect Optics was ranked as the 16th largest U.S. independent wholesale lab in Vision Monday’s 2011 Top Labs Report, with estimated Rx sales of $12 million.

With the ownership shift at CZV Florida, the lab has changed its name to Zeiss/VSP Lab, Tampa Bay. The lab’s management remains in place.

Carl Zeiss Vision retains a minority position in both labs, according to Warren Meyer, senior VP lab operations, VSP Optics Group. Meyer told VMail that VSP increased its ownership stake in the two labs in order to expand distribution of its proprietary Unity brand of lenses and coatings.

“We felt there was a need to have even broader availability of those products for our ECPs. The easiest, most reasonable way to expand this was to take a majority position in our two partner labs,” said Meyer.

In addition to its partnership with Zeiss in CZV Florida and Perfect Optics, VSP operates five wholly owned prescription labs located throughout the U.S. The five labs generated estimated Rx sales of $84.6 million, according to Vision Monday’s 2011 Top Labs Report.
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