BUSINESS Vision Monday’s Top 20 News Stories for 2021 By Staff Thursday, January 6, 2022 12:15 AM While mergers and acquisitions dominated the news cycle in 2021, other subjects of Vision Monday’s most read news stories included major product launches and breakthroughs in new technology. This list includes our top read daily VMAIL news stories as well as Breaking VMAIL deployments from the year 2021 and is based on thousands of collective page views for these stories. For the record, Vision Monday issued its daily VMAIL newsletter five times a week in 2021, with a few days off for good behavior due to holidays. Once again, EssilorLuxottica and Warby Parker, two of the industry’s biggest and most popular optical players, dominated the top 20 with several entries for both companies. Other developments and news announcements from Keplr Vision, Eyecare Partners, Vision Expo, MyEyeDr., HEA/PECAA, MetLife, U.S. Vision, New Look Vision Group, Sight Glass, Specsavers and Clear Sight Partners rounded out Vision Monday’s top 20 news stories for 2021. 11. EssilorLuxottica to Acquire Walman, the Largest Independent Lab Group in the U.S. CHARENTON-LE-PONT, France, and MINNEAPOLIS, Minn.—EssilorLuxottica entered into an agreement on March 25 to acquire Walman, the largest independent optical laboratory group in the U.S. The terms of the agreement were not disclosed. Walman, which is employee-owned and operated, has long been a top wholesale distributor of Essilor lenses in the U.S. It has been a leading partner to vision care practices around the country since its founding in 1915. Headquartered in Minneapolis, Minn., the diversified company operates a network of 35 facilities across the U.S., including prescription lens-finishing labs and hubs for optical instruments and other vision care products.Read More 2. Keplr Vision Continues Growth With Addition of 40 New Eyecare Partnerships in 2020 BLOOMINGTON, Ill.—Amid a challenging year for many businesses and health care providers in 2020, in January Keplr Vision said it finished the year with an impressive 40 new eyecare partnerships. With 65 practice locations added via those partnerships, the Keplr organization “now boasts 185 total clinical locations,” the group said in an announcement late last week. Keplr Vision said it primarily focused its expansion in the Midwest while taking stronger steps into Texas and the Pacific Northwest regions in 2020. Keplr Vision was formed in July 2019 when two portfolio companies of Imperial Capital of Canada—Total ECP and Visionary Eye Partners—merged to operate as a combined entity under the Keplr name. Read More 3. Rx Optical Will Partner With MyEyeDr. VIENNA, Va.–Rx Optical, with 54 locations across Michigan and Indiana, announced on May 3 that it was partnering with the MyEyeDr. family of practices. The deal will bring the total MyEyeDr. office count to 731 over 26 states and the District of Columbia. Details of the transaction were not disclosed. The partnership further solidifies the presence of MyEyeDr. in the Midwest. Since partnering with Goldman Sachs Merchant Banking in 2019, MyEyeDr. has added 185 offices to its list of optometric practices focused on the vision health care needs of a diverse patient base across the country, the company said. Read More 4. Warby Parker Launches Virtual Vision Test, Enhanced Eyeglass and CL Rx Renewal App NEW YORK—Warby Parker significantly expanded its telehealth services on July 19 by introducing Virtual Vision Test, a new and updated app that allows users to update both eyeglass and contact lens prescriptions. It is a one-stop solution for renewing an eyeglass or contact lens Rx using only an iPhone from anywhere, anytime. The test, which will cost $15, launches to the public on July 19. The test in the app is a new iteration of the Prescription Check app that Warby introduced in 2017. The company noted that the new Virtual Vision Test app is powered by a proprietary distance estimation algorithm that its in-house team developed using Apple’s Vision Framework. Read More 5. EyeCare Partners Announces Significant Growth, as Recent Affiliations Expand Group’s Locations to 18 States ST. LOUIS—EyeCare Partners LLC (ECP), a leading network of integrated ophthalmology and optometry providers serving patients across the entire vision care continuum, announced in April that 16 new partner practices that have been added to the organization since October 2020. Despite the enormous challenges of 2020, EyeCare Partners “adapted and continued to expand its footprint in the vision care field,” the announcement noted. Since the third quarter of last year, EyeCare Partners said it has added 95 offices, 11 ambulatory surgery centers (ASCs) and 165 doctors. The terms of the transactions were not disclosed. Read More 6. Healthy Eyes Advantage (HEA) Acquires Professional Eye Care Associates of America (PECAA) BOCA RATON, Fla.—Healthy Eyes Advantage (HEA) announced on July 29 that it had acquired Professional Eye Care Associates of America (PECAA), expanding its commitment to the independent eyecare channel and increasing the size of the community it serves to 12,000 independent eyecare professionals (IECPs) across all 50 states. The acquisition was completed on July 27. Financial terms were not disclosed. PECAA was founded in Portland, Oregon, in 2006 by three independent optometrists. Over the past 15 years, the company has grown from a small, Northwest based organization to one of the nation’s premier doctor alliance groups serving nearly 2,000 independent ECP members. Read More 7. Essilor and Luxottica Launch First Commercial Joint Product Offering in U.S., Ray-Ban Authentic, Enhanced With Essilor Technology DALLAS and NEW YORK—On January 19, 2021, EssilorLuxottica launched the first commercial product leveraging the strength of the new Group by strategically combining the expertise of Essilor and Luxottica and tapping the brand appeal of its most popular lines. The company's senior executives said that its latest edition of Ray-Ban Authentic "represents the perfect match of Ray-Ban’s legendary style and Essilor’s expertise in sight" and will capitalize on the assets of both to meet consumer needs with the aim of diversifying the single vision category as well as growing the prescription sun category for private practices. The launch included Ray-Ban sunwear and optical frames and a range of over 1,400 lens-frame combinations available to consumers, including those featuring Transitions technology with photochromic lenses and blue light filtering. Read More 8. EssilorLuxottica and CooperCompanies Announce Joint Venture for Acquisition of SightGlass Vision and Move to Expand Myopia Management Category CHARENTON-LE-PONT, France, and SAN RAMON, Calif.—EssilorLuxottica (Reuters: ESLA.PA) and CooperCompanies (NYSE:COO), two of the world’s leading vision care companies, said on February 4 that they had entered into an agreement to create a 50/50 joint venture for the acquisition of SightGlass Vision, a U.S.-based life sciences company focused on developing innovative spectacle lenses to reduce the progression of myopia in children. EssilorLuxottica and CooperCompanies will leverage their shared expertise and global leadership in myopia management to accelerate the commercialization of SightGlass Vision spectacle lenses. Read More 9. New Look Vision Group to Acquire Luxury Optical Holdings, Creating Largest Network of Premium Locations in North America MONTREAL, Quebec and NEW YORK—On November 30, New Look Vision Group announced that it had entered into a definitive agreement to acquire New York based Luxury Optical Holdings (LOH). With its existing luxury optical presence in Canada, its prior acquisition of Edward Beiner Group in 2020 and the previously announced partnership with Black Optical earlier this year, New Look Vision Group is now one of the leading luxury optical groups worldwide. The LOH acquisition will more than double New Look's footprint in the U.S., the company said. Read More 10. Warby Parker Outlines Plans for Growth, Store Expansion and Evolution to a ‘Holistic’ Vision Care Company as it Readies Public Stock Offering NEW YORK—In an optimistic and upbeat two-hour webcast presentation on September 13, Warby Parker Inc. co-founders and top executives laid out their plans for strong growth, including expansion of the physical store base, their ongoing philanthropic efforts and the company’s planned evolution to a more “holistic” vision care company that drives a larger share of revenue from eye exams and contact lens sales. The investor presentation followed the August registration filing with the Securities and Exchange Commission for a direct listing of Warby Parker’s Class A shares.Read More 11. Lincoln Road Advisors Acquires U.S. Vision Optical Business from ACON Investments GLENDORA, N.J.—On March 2, Lincoln Road Advisors Inc., an investment company operated by optical industry veteran Eric Bertrand, acquired the holding company Refac Optical Group, which owns the U.S. Vision optical business, from its majority owner ACON Investments. U.S. Vision operates roughly 375 optical locations in licensed retail spaces at J.C. Penney, Meijer, Boscov’s and Optical Center/AAFES Exchange locations. Bertrand, a former chief executive of OptiCare Health Systems of Connecticut and Vision Center at Meijer, confirmed the acquisition by Lincoln Road to VMAIL. He is the principal at Lincoln Road, and also manages the digital marketing agency Mod Op. Read More 12. MetLife Announces Completion of Acquisition of Versant Health NEW YORK—MetLife (NYSE: MET) said in January 2021 that its previously announced acquisition of managed vision care company Versant Health had been completed. The company noted that Versant Health is “a well-respected leader in vision care and owner of Davis Vision and Superior Vision Services.” MetLife has offered group vision insurance since 2012 and with the addition of Versant Health is expected to serve roughly 38 million members, according to an announcement about the planned deal last year. The plan for acquiring Versant Health in a $1.7 billon deal was reported by VMAIL in September 2020. Read More 13. EssilorLuxottica Brings Unified Corporate Identity, Capabilities and Partnership Messaging to ECPs ORLANDO—More than two-and-a-half years since the merger between Essilor and Luxottica was finalized, the optical industry giant made its first appearance at a major industry event under a single, unified banner during Vision Expo East here in June. The company unveiled a gleaming, modern booth that showcased the EssilorLuxottica brand, its vast portfolio of frames, sunglasses, spectacle lenses and showcased a range of related services. Although the exhibit symbolized EssilorLuxottica’s new corporate identity, it provided visitors with practical examples of how the company presents its flagship brands and capabilities to provide independent eyecare professionals with an array of digital resources to support and sell them while building up their practices. Read More 14. Specsavers Establishes North American Presence With Purchase of Canada's Image Optometry in British Columbia GUERNSEY, Channel Islands, U.K.—Specsavers confirmed in May that it had acquired Canadian optometry business, Image Optometry, from its owner Dr Alan Boyco, for an undisclosed sum. Image Optometry employs 55 people, including a business support team, and operates 10 company-owned and eight franchise stores in and around the Vancouver area of British Columbia. Specsavers is the largest privately owned optometry group in the world. More than 3,500 optometrists, retail and audiologist joint venture partners own and operate 2,350 stores in 10 countries, supported by 40,000 store and support office colleagues. Read More 15. Warby Parker Shares Hit the NYSE and Get Off to a Flying Start, as Offering Values the Company at Almost $6 Billion NEW YORK—After ringing the bell to open trading on the New York Stock Exchange (NYSE) on the morning of Sept. 29, Warby Parker Inc. executives saw shares in the company get off to a flying start via their nontraditional direct listing. The opening trade in Warby Parker (ticker symbol WRBY) was priced at $54.05 per share, which valued the company at about $6 billion. That market cap valuation moved even higher as shares subsequently hit an intraday high of $54.72 in trading on the NYSE. Warby Parker shares closed the first day of trading at $54.29.Read More 16. Warby Parker Files Registration for Proposed Direct Listing of its Shares on NYSE, Filing Details Sales and Income as 'Emerging Growth Company' NEW YORK—Warby Parker Inc. announced on August 24 that it had publicly filed a registration statement on Form S-1 with the Securities and Exchange Commission (SEC) relating to the proposed public listing of its Class A common stock. The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions. Warby Parker intends to list its Class A common stock on the New York Stock Exchange under the ticker symbol “WRBY,” according to its announcement. Read More 17. Organizers of Vision Expo Announce That Vision Expo East 2021 Will Now Take Place June 2-5 in Orlando, Fla. ALEXANDRIA, Va.—The Vision Council and Reed Exhibitions, organizers of Vision Expo, announced in late January that Vision Expo East 2021, originally scheduled to take place at the Javits Center in New York City from May 25-28, 2021, would take place at the Orange County Convention Center in Orlando, Fla. from June 2-5, 2021. The Show’s educational program, together with OptiCon@Vision Expo, opened on Wednesday, June 2 and exhibits opened on Thursday, June 3. The decision was based on the current restrictions on large gatherings in New York State due to the COVID-19 pandemic and the successful track record of previous events held at the Orange County Convention Center, the announcement said. Read More 18. Rev360’s 26 Visionary Partners' Practices Join Keplr Vision, Solidifying Keplr’s Pacific Northwest Presence BLOOMINGTON, Ill.—In August, Keplr Vision said it had completed its newest partnership with the 26-practice group known as Visionary Partners, which was owned by Rev360. Comprised of 19 locations across Nevada, three in Oregon, and four in Washington, the Visionary Partners group represents a strong, doctor-focused network of clinics dedicated to providing medically focused optometric care, the Keplr Vision announcement noted. The terms of the transaction were not disclosed. This marked Keplr Vision’s entrance into Nevada and strengthens its presence in the Pacific Northwest, the announcement said. Keplr Vision, formed in 2019, is a portfolio company of Canada’s Imperial Capital, and now is an organization consisting of more than 260 practices across more than 30 states.Read More 19. EssilorLuxottica Announces Decision to Close the Acquisition of GrandVision on July 1, in Accordance With Terms and Conditions of the Agreements Signed July 2019 CHARENTON-LE-PONT, France—Following the approval by its board of directors, in late June EssilorLuxottica (Euronext: EL) announced its decision to complete the acquisition of HAL’s 76.72 percent interest in GrandVision (Euronext: GVNV) on July 1, 2021 as per the terms and conditions of the agreement entered into on July 30, 2019. “After assessing all our options, we have made the decision to proceed with the completion of the deal without further delay. The strategic rationale of the transaction remains strong and unchanged, and after two years of efforts and relentless work, we are now ready to turn a page and start a new chapter of EssilorLuxottica’s history, with GrandVision," said Francesco Milleri and Paul du Saillant, respectively CEO and deputy CEO of EssilorLuxottica. Read More 20. Clear Sight Partners LLC Formed by S.F. Investment Firm, Brian Hauser Named CEO SAN FRANCISCO, Calif.—Spanos Barber Jesse & Co. (SBJ), a San Francisco-based investment firm, announced in January that it had completed a partnership with five Florida vision practices and a group of nine retail stores to form Clear Sight Partners, LLC (CSP). The move marks the firm’s entry into the optical industry. Collectively, CSP is one of the largest vertically integrated vision care providers in the West and Central Florida area. Five of the practices—Pasadena Eye Center, Pasadena Surgery Center, Eye Associates of Pinellas, Gulf Coast Retinal Specialists and Ryczek Eye Associates—were physician owned. The retail stores, which operate under the Opti-mart banner, were owned by Skip Payne and Scott Payne. All CSP practice shareholders retained significant ownership stakes and will continue with the company post-closing, CSP told VMAIL. Read More