RANCHO CORDOVA, Calif. & BOCA RATON, Florida–(BUSINESS WIRE)–The two largest supporters of the independent eye care industry unite to ensure the continued success and growth of private practice. Today VSP Vision™ announced the acquisition of Professional Eye Care Associates of America (PECAA) from Nautic Partners. PECAA will continue to operate in an independent, physician-led manner for the benefit of all independent eye care professionals.
Serving more than 12,000 members, PECAA is the largest community of independent eyecare professionals in the country. Since 2006, PECAA has provided member-focused business services, pooled purchasing power to reduce costs, and a peer community providing a support network.
“The essential role of today’s independent eye care professional cannot be overstated. Private practice remains the preferred choice for 75% of VSP’s more than 85 million members and the destination for most patients across the country,” said Michael Guyette, President and CEO of VSP Vision. “By joining forces with PECAA, our complementary organizations will further secure the future of independent eye care in an increasingly competitive marketplace and ensure continued support, growth and opportunity.”
Delivering immediate value from partnership, a variety of introductory benefits and exclusive offers are available to members and PECAA firms participating in the VSP Vision Premier program, starting October 1.st. More details here. PECAA members will experience no changes to their membership and will continue to enjoy alliance and buying group benefits.
“PECAA was founded to protect and promote independent eye care, a mission we have embraced for over 15 years, and which is only strengthened by our new collaboration with VSP Vision,” said the co-founder and director. of PECAA Strategy, Lance Anderson, OD. “The combination of PECAA’s deep understanding of freelancers’ needs 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 forming an ever-changing market landscape.”
Over the next three months, the two organizations will communicate more about their shared vision to support independent eye care through an expanded schedule of PECAA live and virtual events, including its Peer Gatherings. Held across the country and online, these events will provide an opportunity to hear from PECAA members about the new support and solutions organizations can bring to market in 2023 and beyond. Details on the schedule and locations of the events will be announced in the coming weeks.
“As a physician-led organization, PECAA is excited to partner with VSP to deliver exclusive value, greater choice, and unparalleled support to independent eye care professionals,” added Justin Manning, OD, MPH, FAAO. , responsible for the experience of the members of PECAA. “Together, we look forward to bringing our unique capabilities and shared vision of providing business support to this critical group of providers, helping to improve their practice and business success while always keeping the doctor-patient decision at the center of eye care delivery. .”
PECAA President and CEO Jim McGrann will continue in office until the end of 2022 to ensure a smooth transition, at which time he will leave the organization. All other members of the PECAA management team and staff will continue in their respective roles.
“VSP Vision is the perfect partner for PECAA, especially given the rapid evolution in eye care,” said McGrann. “The strength of the PECAA – VSP Vision combination will allow us to collaborate with our members in new ways to create a bright future for independent eyecare professionals.”
Keith Farrow, Managing Director of Nautic Partners, added: “It has been our pleasure to work with the PECAA management team over the past five years, and we are excited about the next phase of PECAA which is partnering with VSP Vision to support independent eye care. professionals. Under the leadership of PECAA President and CEO Jim McGrann, PECAA has developed and supported the nation’s largest community of independent eyecare professionals and launched innovative offerings that provide increased value to its members. We are confident that PECAA, by partnering with VSP Vision, will further increase the value offered to independents nationwide.
CapM Advisors acted as financial advisor and Locke Lord LLP acted as legal advisor to PECAA and Nautic Partners.
About VSP Vision
At VSP Vision, our goal is to empower human potential through sight. As the nation’s first and only nonprofit vision benefits company, that’s what drives everything we do. For more than 65 years, VSP has been the leader in health-focused eye care. Every day, the people who bring our complementary businesses to life (VSP® Eye Care, Marchon Eyewear, Inc., Visionworks®Eyefinity®Eyeconical®PSV® Optics and VSP Ventures) work together to create a world where everyone can bring their best vision to life. This means providing affordable access to eye care and eyewear to more than 85 million members through a network of more than 41,000 physicians. And that means expanding access to vision care for those disadvantaged by income, distance or disaster. Through VSP Eyes of Hope®, more than 3.6 million people in need received free eye care and glasses. Learn more about how we reinvest in better vision, better health and opportunity for all at vspvision.com.
PECAA is the nation’s largest community of independent eyecare professionals, serving more than 12,000 members nationwide. PECAA delivers “The Power of Independence” by providing members with access to over 250 vendor partner programs, a customizable suite of industry-leading business advisory services, and a strong connection to a community of like-minded peers. providing a support network. It’s the only membership group in the nation that combines the benefits and scale of an eye care buying group with the community and insight of a physician alliance to empower every independent to connect, build and thrive in the way that best supports its unique goals. For more information, visit PECAAMax.com or call 800.959.2020, option 3.
About Nautic Partners
Nautic Partners is a medium-sized private equity firm focusing on three sectors: healthcare, industrials and services. Nautic has completed over 150 rig transactions throughout its 35+ year history. Nautic’s strategy is to partner with management teams to accelerate the growth trajectory of its portfolio companies through add-on acquisitions, focused operational initiatives and a deeper management team. For more information, visit www.nautic.com.