RANCHO CORDOVA, Calif. – Superior Vision Holdings, Inc. was acquired by private equity firm Nautic Partners LLC of Providence, R.I., in partnership with the Superior Vision management team effective March 30. Superior Vision provides vision insurance coverage to approximately two million members across all 50 states. Founded in 1993, Superior Vision will continue to be operated by the existing management team led by Rick Corbett, president and CEO, and it will continue to work as an independent vision plan in the marketplace exactly as it does today.

Even in a difficult economy, Superior Vision has had a 15.5 percent compound annual growth rate over the past five years. “We will continue to look at the expansion of the company,” Corbett told VMail, explaining that “expansion” would involve “new geographic territories and recruiting efforts with respect to providers.” The company will remain focused on the U.S. market.

“What differentiates us is the size and diversity of our network,” Corbett continued. “We have more ophthalmologists than any vision plan, and all of the major retail opticals are in our network as well.” Superior Vision’s network consists of 46,000 providers comprised of ophthalmologists, optometrists and retail optical locations. Nautic now has a majority ownership in Superior Vision, with management still owning a significant share.

“We are excited to be partnering with Rick Corbett and the entire Superior Vision team and believe that the company is positioned well to extend its exceptional track record of profitable growth,” said Scott Hilinski, managing director of Nautic. The sale price for the privately held company was not disclosed.