Industry News
Goldman Sachs Invests Again in Optical Market
Goldman Sachs’ merchant banking division has announced plans for the acquisition of Capital Vision Services, which provides management services to the MyEyeDr group of independent optometrists and practices in the USA. The financial terms of the deal were not disclosed, but a report in the Wall Street Journal estimated Capital Vision Services was worth US$2.7bn, including debt. The MyEyeDr group supports affiliated independent optometrists and their practices with a complete array of financial, marketing, human resources, and accounting services, along with managed care credentialing and claims processing.
This is not Goldman Sachs' first investment in the optical market as they have been one of the initial investors in German online optical retailer Mister Spex some years ago. Mister Spex provides its services in partnership with more than 500 local opticians in Germany, Austria, Switzerland and the Netherlands. Via the Mister Spex websites, the company also operates in France, Spain, Austria, Switzerland, the Netherlands and the UK. In July 2013, the company also took over the Swedish online eyewear shops Lensstore and Loveyewear and, in January 2015, the Norwegian contact lens retailer Lensit. In February 2016 Mister Spex opened its first store in Berlin.
This latest deal will bolster Goldman Sachs' portfolio in the healthcare services sector.
