BUSINESS Advancing Eyecare Announces Acquisition of Veatch Ophthalmic Instruments By Staff Friday, November 11, 2022 12:40 PM JACKSONVILLE, Fla.—Advancing Eyecare (AEC), a leading North America provider of ophthalmic instruments, has announced the acquisition of Veatch Ophthalmic Instruments, a leading U.S. distributor of ophthalmic equipment. The move is described by Advancing Eyecare as a way to expand its national footprint in ophthalmic instruments and further strengthen its offerings to eyecare providers. Financial terms of the transaction were not disclosed. Headquartered in Tempe, Arizona, Veatch has a more than 30-year history of distributing ophthalmic technology to vision care providers throughout the U.S.With a shared commitment to best-in-class customer support, Veatch and AEC will expand product and service offerings to their combined customers and capitalize on synergistic growth opportunities.AEC has seven market-leading brands in eyecare instrumentation and offers a one-stop solution for ophthalmic equipment and services to a diversified customer base that includes independent eyecare practitioners, national chains, hospitals and teaching institutions. AEC is currently comprised of Lombart Instrument, Marco Ophthalmic, INNOVA Medical, S4Optik, Santinelli International, and other leading brands. In 2022, AEC partnered with Cornell Capital, a U.S.-based private investment firm, to drive growth, expand the company’s reach and further enhance AEC’s ability to provide high-quality, innovative products and services to a growing customer base. The addition of Veatch strengthens AEC’s leadership in eyecare instrumentation. Brad Staley, CEO of AEC, said, “As we continually evaluate opportunities to scale our business and enhance how we serve customers, we are thrilled to welcome Veatch Ophthalmic Instruments to the AEC family of brands. Veatch has built a tremendous reputation over the last 30 years, centered around a commitment to customer satisfaction and improvement of patient outcomes. Their product and service offerings, complemented by a service-oriented team, make them a natural partner to add to AEC.” “We are excited to partner with Advancing Eyecare to further broaden our product portfolio and expand our reach as part of a larger company,” said Kyna Veatch, president of Veatch. “We believe our unique approach will help strengthen our combined brands and create significant value for our customers and the patients they serve. We look forward to working with the talented AEC team, who shares our customer-first mindset, in delivering the highest standard of service and ophthalmic technology across the U.S.” Founded in 1988, Veatch Ophthalmic Instruments has been an integral part of the ophthalmic community with a rich 30-plus year history and an exciting future. Cornell Capital LLC is a U.S.-based private investment firm with $6 billion of assets under management and offices in New York and Hong Kong. Leveraging decades of global investment experience, the firm takes a disciplined approach to investing across the consumer, financial services, and industrials/business services sectors.