Investors Management Corporation Acquires IDOC From The Riverside Company

By

Dave Brown, IDOC president and CEO.

NORWALK, Conn.—Independent Doctors of Optometric Care (IDOC), the largest privately-held alliance of independent optometrists in the U.S., announced that Investors Management Corporation (IMC), a Raleigh, N.C. private investment firm, has acquired IDOC from The Riverside Company, which has owned it since 2012. Terms of the transaction were not disclosed.

“We are excited to join the IMC family of companies,” said Dave Brown, IDOC president and CEO. “IMC offers an ownership platform that supports the long-term vision of IDOC to provide independent optometrists extensive partner vendor programs, practice consulting, continuing education and networking opportunities to help our members achieve greater success in private practice.”

Brown and his senior management team of chief optometric officer Neil Gailmard, OD, and chief financial officer Oliver Spandow will continue to lead IDOC, whose membership includes independent optometrists at over 2,000 locations nationally.

“IMC are long-term owners of businesses that provide lasting benefits to society and positive financial outcomes for everyone involved,” noted Quinton Maynard, chairman and CEO of IMC. “We are pleased to support IDOC’s commitment to ensuring the future of independent optometry.”

IDOC was formed in 1999 and is based in Norwalk, Conn. In 2015, IDOC acquired Prima Eye Group, a leading consulting firm and alliance for independent optometrists.

IMC, founded in 1971, owns several businesses including Golden Corral, RiseMark, Fleet Feet Sports and Cornerstone Building Alliance. IMC’s acquisition of IDOC marks its entry into the eyecare industry.