CORAL SPRINGS, Fla.—ABB Optical Group
, which supplies optical products and services for the eyecare industry, has agreed to acquire Glimpse Live
, according to an announcement earlier this morning by ABB. Glimpse Live, based in Jacksonville Beach, Fla., is a data and analytics provider for eyecare professionals and other health care practitioners. The acquisition became effective Thursday, May 31, according to a spokeswoman. The terms of the deal were not disclosed. Glimpse’s software provides ECPs with “industry-leading data and digital dashboards to increase revenue and profitability,” the announcement noted.
Casey Hedberg, who founded Glimpse in 2013, will become managing director of Glimpse following the acquisition, the announcement noted.
“Glimpse is the first ‘push’ informatics service in the eyecare industry,” according to the Monday morning announcement. “It is designed to help business owners measure and track performance, identify growth opportunities, forecast future trends and compare results among peers. The software securely integrates with electronic health records and practice management systems to provide in-depth analytics, live benchmarking, employee productivity tracking, monthly SWOT reports and daily metrics in an easy-to-understand, snapshot format, among other features.”
Hedberg said he believes there is “tremendous synergy between” ABB Optical and Glimpse. “We are culturally aligned in operations, strategies and core values,” he said in the announcement. “We are both committed to providing eyecare practitioners with the tools they need to succeed in business and to offering exceptional customer service. By integrating into ABB’s full-service optical platform, our team is going to be able to continue innovating and investing in leading-edge, health care information technologies to deliver new, best-in-class products and even more value to our customers.”
As a result of the acquisition, ABB Optical Group said it expects to build upon its ability to provide industry-leading data and practice management solutions. “Glimpse is a fantastic fit for ABB Optical,” Brad Weinbrum, president of ABB Optical Group, said. “This enables us to offer our customers more in-depth, expanded business reviews and build upon our comprehensive analysis of a practice’s contact lens portfolio to include a full, complete look at the entire business.”
Weinbrum said he believes that by providing practices with a full range of metrics, including frames and lens sales in addition to contact lens trends, ABB will help ECPs “accelerate their growth and drive an increase in profitability.” Practices using Glimpse software everyday experience growth of 15 percent to 30 percent on average, according to the announcement. In a study of representative Glimpse customers, patient revenue grew by an average of $50,000 year over year.
ABB Optical currently supplies almost two-thirds of ECPs across the nation with brand name contact lenses, fully customizable gas permeable and custom specialty soft contact lenses, ophthalmic lenses and more.