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ABB OPTICAL GROUP to Acquire Diversified Ophthalmics and MidSouth Premier Ophthalmics
CORAL SPRINGS, Fla. (October 21, 2016) – ABB OPTICAL GROUP, a leading distributor of optical products headquartered in Coral Springs, Fla., has acquired Diversified Ophthalmics, Inc. and partner company MidSouth Premier Ophthalmics. Financials were not disclosed.
As a result of the merger, ABB OPTICAL GROUP will enhance its ability to provide best-in-class service to customers. Combining the complementary geographic operations of Diversified and MidSouth in the central U.S. with the strong logistics network ABB OPTICAL already has along the east and west coasts, the merger represents a good fit of business models as both organizations currently operate across four major core businesses:
- distribution of a full range of soft contact lenses;
- manufacturing and distribution of ophthalmic lenses and eyewear;
- GP and custom soft manufacturing; and
- support of practice management and buying groups (ABB Optical's Primary Eyecare Network and Diversified's ECP Network).
"This merger represents a tremendous investment we are making not only in the future of optometry, but also in our valued customers," said Angel Alvarez, CEO of ABB OPTICAL GROUP. "The essence of what ABB is and what ABB stands for will never change. We always have been and continue to be a trusted business partner to eye care professionals, delivering the best services and programs to help them better serve their patients in an evolving marketplace. This merger allows us to expand our footprint geographically, and that will result in even greater success for our customers and convenience for their patients."
In addition to its corporate headquarters and distribution center in Florida, ABB OPTICAL GROUP also has a distribution facility in Marshfield, Mass.; a distribution facility and its Digital Eye Lab (DEL) in Hawthorne, N.Y.; and a distribution facility and manufacturing labs for gas permeable and custom soft lenses, as well as its Primary Eyecare Network (PEN), in Alameda, Calif. The company was founded in 1989.
"We are thrilled to be joining the ABB family," said Ronald F. Cooke, O.D., President and CEO of Diversified Ophthalmics. "Together we will remain steadfast in our commitment to quality and service for independent eye care professionals by providing innovative programs and services that will energize the eye care industry. We are excited about the future."
Diversified Ophthalmics, Inc. is a total resource network for eye care professionals. The company was founded in Cincinnati in 1977 and has offices and labs in Spokane, Wash., Columbia, S.C., Milwaukee and Houston. MidSouth Premier Ophthalmics got its start in 1976, and with primary facilities in Nashville, Memphis and Atlanta, manages multiple labs and distribution facilities across the south.
Customers of ABB OPTICAL GROUP, Diversified Ophthalmics and MidSouth Premier Ophthalmics will experience business as usual. ABB OPTICAL GROUP has committed to further invest in facilities, inventory, technology and people to enhance overall customer experience and range of offerings.
HPC Puckett & Company, headquartered in Rancho Santa Fe, Calif., represented Diversified Ophthalmics and MidSouth Premier Ophthalmics in the transaction.
ABOUT ABB OPTICAL GROUP
ABB OPTICAL GROUP is a leading provider of optical products in the United States. The company supplies nearly two-thirds of eye care professionals across the country with brand name contact lenses, fully customizable gas permeable and custom specialty soft contact lenses, ophthalmic lenses and more. The company's Digital Eye Lab is a fully automated optical lab dedicated to freeform digital lens fabrication. ABB OPTICAL GROUP also offers practice-building services such as pricing strategy tools, business reviews, annual supply staff training and e-commerce solutions. For additional information, visit ABBOptical.com.