KKR to Acquire 1-800 Contacts from AEA Investors in Deal Valued at About $3 Billion

DRAPER, Utah—1-800 Contacts, the largest retailer of contact lenses in the U.S., today announced a definitive agreement under which global investment firm KKR will acquire the company from AEA Investors. The sale follows many years of strong growth and technology innovation for the direct-to-consumer (DTC) brand, which was purchased by AEA Investors in 2016. Financial terms of the transaction were not disclosed. However, sources close to the deal told VMAIL that the deal is valued at roughly $3 billion, about $2 billion more than when it was acquired by AEA.

Optical Sales Across the U.S. Bounce Back to Pre-Labor Day Holiday Levels, Per Jobson COVID-19 Practice Performance Tracker

NEW YORK—Nationally, optical sales returned to their levels prior to the Labor Day Holiday during the most recent week for which metrics have been tracked (Sept. 14 – Sept. 20). Following substantial decreases resulting from the Labor Day holiday for the previous week tracked (Sept. 7 – Sept. 13), overall optical sales in all categories bounced back to where they had been on a national level during the week of Aug. 31 to Sept. 6. 

Learn More About VM’s Summit in This Special Video Message from Jobson’s Marc Ferrara

NEW YORK—The upcoming Vision Monday Global Leadership Summit will examine the big themes and urgent questions facing ECPs and vision care decision makers in light of the pandemic which has created new challenges on so many levels. Want to learn more about #VMSUMMIT, the most important thought leadership event for our industry in 2020? Learn how it will rethink healthcare and its relationship to the eye health and retail components of the vision care industry in this exclusive video message from Jobson’s CEO Marc Ferrara and find out why this year’s Summit is the can’t miss virtual event of 2020.

Sen. Boozman Introduces Contact Lens Rule Modernization Act that Would Eliminate Robocalls for Rx Verification

ALEXANDRIA, Va.—In an effort to offset language in the FTC’s updated Contact Lens Rule, Sen. John Boozman (R-Ark.) last week introduced in the U.S. Senate the Contact Lens Rule Modernization Act,  which would eliminate the use of robocalls to verify contact lens prescriptions, according to a statement by the Health Care Alliance for Patient Safety (APS). The bill, which APS endorsed, is co-sponsored by Sen. Roger Wicker (R-Miss.), Jim Inhofe (R-Okla.) and Sen. Rand Paul (R-Ky.)

Soaring Screen Time

Long before COVID-19 turned our world upside-down, concerns over too much screen time and the rise of Digital Eye Strain (DES) were already escalating. But it’s safe to say the COVID-19 crisis is exacerbating the situation for people everywhere, and especially for children who have multiplied their time on-screen—using digital devices for both virtual education and recreational down-time. While more time at home has been good for slowing the spread of COVID-19, it’s forcing many people’s eyes to suffer. Our new reliance on digital devices for work, school and entertainment is more all-encompassing than ever.