RANCHO CORDOVA, Calif. and BOCA RATON, Fla.—Today, VSP Vision announced the acquisition of Professional Eye Care Associates of America (PECAA)  from Nautic Partners. PECAA will continue to operate independently and be led by doctors, for the benefit of all independent eyecare professionals, the companies said, adding “The industry's two largest supporters of independent eyecare professionals are uniting to ensure the continued success and growth of private practice.” Serving more than 12,000 members, PECAA is the nation’s largest community of independent eyecare professionals. Since 2006, PECAA has delivered member-focused business services, group buying power to reduce costs, and a community of peers offering a network of support.

“The critical role of today’s independent eyecare professional cannot be overstated. Private practice remains the preferred choice for 75 percent of VSP’s more than 85 million members and the destination for most patients across the country,” said VSP Vision president and CEO Michael Guyette. “By joining forces with PECAA, our complementary organizations will further secure the future of independent eyecare in an increasingly competitive market and ensure continued support, growth and opportunity.”

Details of the transaction were not disclosed. Providing immediate value from the partnership, a variety of introductory benefits and exclusive offers are now available to PECAA members and practices participating in the VSP Vision Premier Program, effective October 1, the announcement said. More details of those can be found here. PECAA members will not experience any changes to their membership and will continue to enjoy both alliance and buying group benefits, the companies added.
“PECAA was founded to protect and promote independent eyecare, a mission that we have embraced for more than 15 years, and which is only strengthened by our new collaboration with VSP Vision,” said Lance Anderson, OD, PECAA co-founder and chief strategy officer. “The combination of PECAA’s deep understanding of the needs of independents and VSP’s vast resources will allow us to provide next-level support in positioning our members for success and will keep PECAA members at the forefront of shaping a constantly evolving market landscape.”
Over the next three months, the two organizations will communicate more about their shared vision to support independent eyecare through an expanded calendar of PECAA’s live and virtual events, including its peer-to-peer gatherings. Being held across the country and online, these events will offer an opportunity to hear from PECAA members about what new support and solutions the organizations can bring to market in 2023 and beyond. Details on the event schedule and locations will be announced in the coming weeks.
“As a doctor-led organization, PECAA looks forward to collaborating with VSP to deliver exclusive value, greater choice, and unmatched support to independent eyecare professionals,” added Justin Manning, OD, MPH, FAAO, PECAA chief member experience officer. “Together, we are eager to put our unique capabilities and shared vision for delivering business support to work for this essential group of providers, helping enhance their practice and business success while always keeping doctor-patient decision-making at the center of eyecare delivery.”
Jim McGrann, currently PECAA chairman and CEO, will continue to serve in his role through the end of 2022 to ensure a smooth transition, at which point he will depart the organization. All other members of PECAA’s leadership team and staff will continue in their respective roles, the announcement said.
“VSP Vision is the absolute right partner for PECAA, especially given the rapid state of change in eyecare,” said McGrann. “The strength of the PECAA–VSP Vision combination will enable us to collaborate with our members in new ways to create a bright future for independent eyecare professionals.”
Keith Farrow, managing director at Nautic Partners, added, “It has been our pleasure to work with the leadership team at PECAA over the last five years, and we are excited about PECAA’s next phase in joining forces with VSP Vision to support independent eyecare professionals. Under the leadership of Jim McGrann, PECAA chairman and CEO, PECAA has developed and supported the nation’s largest community of independent eyecare professionals and launched innovative offerings delivering enhanced value to its members. We are confident that PECAA joining forces with VSP Vision will further elevate the value delivered to independents nationwide.”  

Nautic Partners is a middle-market private equity firm that focuses on three industries: health care, industrials and services. Nautic has completed over 150 platform transactions throughout its 35-plus year history.

CapM Advisors served as financial advisor and Locke Lord LLP acted as legal counsel to PECAA and Nautic Partners.