Pro Fit Optix Exits Chapter 11 With New Majority Owner

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GRAPEVINE, Texas—Pro Fit Optix has exited Chapter 11 with a new majority owner, a revamped board and a new product strategy, the company said. On Aug. 22 , the United States Bankruptcy Court for the Southern District of Florida entered an order confirming and approving Pro Fit Optix’s plan of reorganization.

The worldwide eyewear and technology company had voluntarily filed for Chapter 11 bankruptcy on Feb. 9 ,as VMail reported at that time, which enabled it to continue its operations despite a proxy fight with its former parent company.

With the new reorganization plan, according to Rudolf Suter, who remains CEO and president of the company, “The company is now poised to continue its ascension as a major player in the U.S. and international optical industry.”

Suter told VMail that the reorganization plan is accompanied by a recapitalization of the company by its new majority private equity shareholder, HCA Capital of Florida. “This is an amazing day for an extraordinary company, which has captured its market position during the reorganization and increased sales by 84 percent as of July 31. The company is well capitalized and ready for future growth. Our competent shareholders understand our business.”

Suter explained that Pro Fit Optix will move forward with three aspects of its business. Its Smart Eyewear platform is a material fulfillment system, which enables ECPs or managed vision care groups to order frames and lenses as a package delivered directly, via the SmartEyewear.com site. Also in the Pro Fit Optix pipeline, he said, is a new ordering system, based on the iPad, for ECPs. The company is also marketing calculation software for laboratories.