Rancho Cordova, California & Boca Raton, Florida-(BUSINESS WIRE)-The two largest supporters in the independent eye care industry are united to ensure the continuous 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 independently and led by doctors, for the benefit of all independent sight professionals.
At the service of more than 12,000 members, PECAA is the largest community of independent view professionals in the country. Since 2006, Pecaa has provided members -oriented commercial services, a group purchasing power to reduce costs and a peer community offering a support network.
“The essential role of today’s independent sight professional cannot be overestimated. Private practice remains the preferred choice of 75 % of the more than 85 million members of VSP and the destination of most patients across the country, “said Michael Guyette, president and chief executive officer of VSP Vision. “By joining forces to Pecaa, our complementary organizations will provide more and more the future of independent eye care in an increasingly competitive market and will ensure continuous support, growth and opportunities.”
Offering an immediate value for the partnership, a variety of launch advantages and exclusive offers are available for PECAA members and firms participating in the VSP Vision Premier program, from October 1st. More details here. Pecaa members will not know any change in their membership and will continue to take advantage of the advantages of the Alliance and the purchasing group.
“Pecaa was founded to protect and promote independent eye care, a mission that we have embraced for over 15 years, and which is only reinforced by our new collaboration with VSP Vision,” said the co-founder and director Pecaa’s strategy, launches Anderson, OD. “The combination of Pecaa’s in-depth understanding of the needs of the self-employed and the vast resources of VSP will allow us to provide higher level support in the positioning of our members for success and will maintain the members of PECAA at the forefront of The formation of a constantly evolving market landscape. ”
Over the next three months, the two organizations will communicate more on their common vision to support independent eye care thanks to a extended and virtual event calendar in Pecaa, including its peer gatherings. Starting throughout the country and online, these events will offer the opportunity to hear the members of the PECAA talk about the new support and the new solutions that organizations can provide on the market in 2023 and beyond. The details on the calendar and the places of events will be announced in the coming weeks.
“As an organization led by doctors, Pecaa is delighted to collaborate with VSP to offer exclusive value, greater choice and unrivaled support for independent sight professionals,” added Justin Manning, OD, MPH, FAAO , Responsible for the experience of PECAA members. “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-decision-making at the center of the service of eye care. .”
The president and chief executive officer of Pecaa, Jim McGrann, will continue to exercise his functions until the end of 2022 to ensure a smooth transition, the date on which he will leave the organization. All other members of the Pecaa management and staff will continue in their respective roles.
“VSP Vision is the ideal partner for Pecaa, in particular given the rapid development of eye care,” said McGrann. “The strength of the Pecaa – VSP Vision combination will allow us to collaborate with our members of new ways of creating a bright future for independent sight professionals.”
Keith Farrow, Managing Director of Nautic Partners, added: “It was our pleasure to work with the Pecaa management team in the past five years, and we are delighted with the next Pecaa phase which is associated with VSP Vision to support independent eye care. professionals. Under the leadership of the President and Chief Executive Officer of Pecaa, Jim McGrann, Pecaa has developed and supported the largest community of independent vision professionals in the country and launched innovative offers offering increased value to its members. We are convinced that Pecaa, by associating with VSP Vision, will further increase the value offered to the self -employed on a national scale.
CAPM Advisors acted as a financial advisor and Locke Lord LLP acted as a legal advisor to Pecaa and Nautic Partners.
In VSP Vision, our goal is to strengthen 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 care leader. Every day, people who bring our complementary professions to life (VSP® View care, Marchon Eyewear, Inc., VisionWorks®Eyefinity®Eyyonic®PSV® Optics and VSP Ventures) work together to create a world where everyone can give life to their best vision. 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 this means expanding access to vision from sight to people disadvantaged by income, distance or a disaster. Through VSP Eyes of Hope®, more than 3.6 million people in need have received eye care and at no cost. Learn more about how we reinvest in better vision, better health and opportunity for all at vspvision.com.
Pecaa is the largest community of professionals in the country’s independent views of the country, serving more than 12,000 members throughout the country. 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 prosper 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 produced more than 150 platform transactions throughout its history over 35 years old. 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, go to www.nautic.com.