Latest News VSP Ventures and Ohio-Based Optometric Management Group Form Joint Venture to Bring a 'Transition Option' to Ohio ECPs By Staff Wednesday, June 23, 2021 12:24 AM RANCHO CORDOVA, Calif.—VSP Ventures and Optometric Management Group (OMG), which is composed of eight Ohio eyecare practice locations, announced the creation of a joint venture formed “from a shared mission to support private optometry practices across Ohio.” The partnership is designed to meet the increasing demand for transition options that preserve and enhance the legacies of optometrists interested in selling their businesses, the announcement noted. As part of the partnership, VSP Ventures has become a joint owner of OMG’s eight existing Ohio-based locations: EyeCare Professionals, Grove City Vision Center, Miamisburg Vision Care, North Star Vision Center, Optic Nerve Polaris, two Optique Family Vision Care locations and White Oak Vision Center.Optometric Management Group—will continue to operate under their respective brands, the announcement noted. VSP Ventures declined to provide details of the structure of the joint venture, but noted that it will be co-managed by both parties. In addition, a VSP Ventures spokesman noted in response to a question about future growth that the firms involved in the joint venture expect that “Optometric Management Group will continue to expand through additional acquisitions.” Additional terms of the new partnership were not disclosed. VSP Ventures, which is a unit of VSP Global, has acquired or partnered with OD practices representing about 25 locations prior to this joint venture announcement. A previous joint venture with Rosin Eyecare operates practices in Tennessee. The OMG group initially was formed as “a natural extension of advocacy efforts in the Ohio eyecare industry” by co-founders and practicing optometrists David Anderson, OD, Timothy D. Fries, OD, MBA, MPH, FAAO, and Jason Miller, OD, MBA, FAAO, according to the announcement. Each holds a leadership position in the Ohio Optometric Association and has consistently worked to inform state and national legislation that strengthens optometry. OMG also includes management team members, Keith Basinger, OD, San-San Cooley, OD, MS, FAAO, and Eric Neader, OD, MBA. Dr. Fries said, “We met with many traditional acquisition companies and none quite fit our goal. We believe VSP Ventures’ patient-centric, doctor-driven philosophy aligns with ours: optometrists helping optometrists who want to sell their practices yet sustain the core values of independent eyecare.” "This partnership became the best fit for OMG in terms of doctor control,” Dr. Miller said in the announcement. “It was important for us to ensure that all issues of patient and day-to-day operations remain in the hands of those caring for patients every day.” Dr. Anderson added, “VSP was already the biggest source of patients to our practices. We’re excited for the growth possibilities of this partnership including leveraging VSP Ventures’ practice management knowledge and access to resources to establish our locations as the destinations for Ohio optometrists to provide exceptional and personalized eyecare.” This partnership marks the second joint venture for VSP Ventures after its agreement with Rosin Eyecare in Tennessee, which was announced in 2019, as VMAIL reported. “We’re so proud OMG chose VSP Ventures to bring an alternative practice transition option to Ohio optometrists,” said VSP Ventures president Tiffanie Burkhalter. “What our partnership offers is a care-focused, doctor-led solution, and most importantly, the peace of mind that optometrists have been asking for.” VSP network doctors interested in learning more about the variety of practice transition options available can visit VSPVentures.com.