MetLife Announces Completion of Acquisition of Versant Health

By
NEW YORK—MetLife (NYSE: MET) said this week that its previously announced acquisition of managed vision care company Versant Health has 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.

MetLife noted this week, “We welcome Versant employees and customers to the MetLife family, and look forward to delivering greater value for our customers and shareholders.”

No further details on the closing or the structure of the vision care organization at MetLife were disclosed.

As VMAIL reported last year, MetLife entered into a definitive agreement to acquire Versant Health from an investor group led by Centerbridge Partners and including FFL Partners for approximately $1.675 billion in an all-cash transaction.

Versant owns the well-established marketplace brands Davis Vision and Superior Vision. Following the acquisition, MetLife said it would gain access to Versant Health’s roughly 35 million members, and MetLife’s existing customers will gain access to Versant Health’s extensive provider network, which is one of the largest in the industry.

In September 2020, Ramy Tadros, president of U.S. Business for MetLife, said, “We are confident this acquisition will make our market-leading group benefits business even more attractive. The addition of the strong Davis Vision and Superior Vision brands will immediately establish MetLife as a leader in managed vision care. We look forward to offering our customers the exceptional member experiences that Versant provides.”