Industry News
The Optical Company Acquires Adelaide Eye Care Practices
The Optical Company (TOC), a leading provider of eye care services, has recently announced the acquisition of all three Adelaide Eye Care (AEC) optometry practices, marking the company's first acquisition of 2024. This move brings the total number of TOC locations to 60, making it one of the largest eye care networks in Australia.
The acquisition of AEC, which was founded in 1982, is significant for both parties. AEC has a strong reputation for providing the highest level of eye care and eyewear, and TOC is excited to build on this success and work with AEC's store teams on the next chapter for Adelaide Eye Care.
René Malingré and Liz Capper, the husband and wife optometry duo who have led AEC since 2003, expressed their excitement about joining TOC. They have been committed to maintaining the traditions of the original business, including advancing diagnostic technology, personalised optical dispensing, and contact lens expertise.
Aaron Kangisser, COO of TOC, noted the independent spirit and focus on optometry care that defined AEC, which aligns well with the existing network. He expressed his privilege in working with Malingré, Capper, and the practice teams as they embark on AEC's next phase of growth.
The acquisition of AEC practices, situated at Mawson Lakes, Blackwood, and Westbourne Park, was effective as of February 29, 2024.
This acquisition follows other significant changes at TOC, including being acquired by private markets investment firm Pacific Equity Partners after its parent company, Healthia, was acquired in December 2023. TOC remains the Eyes & Ears division of Healthia.
The move also comes after TOC acquired Kosmac & Clemens and Vision Eye Health in 2023.