Prevent Blindness Declares Second Annual Fireworks Safety Awareness Week as June 28-July 4 to Educate on the Dangers of Fireworks

By Staff
Friday, June 24, 2022 12:27 AM Prevent Blindness declares Fireworks Safety Awareness Week, AAOF announces BRIGHT IDEAS Pitch Competition, ECP’s gross revenue decreased, Jobson Tracker says, Optometry’s Meeting completes four-day run in Chicago, and CVS Health will exit the in-store optical business all topped this week’s VMAIL news feed. Click on the headlines below to catch up on anything you might have missed.

American Academy of Optometry Foundation Announces Inaugural BRIGHT IDEAS Pitch Competition

By Staff
Thursday, June 23, 2022 12:24 AM ORLANDO—The American Academy of Optometry Foundation (AAOF) has announced its inaugural BRIGHT IDEAS Pitch Competition. The competition is designed to provide recognition, mentoring, and monetary reward to new or early-stage entrepreneurs with an idea or innovation that will improve eyecare treatment or devices. The application deadline is Friday, July 8, 2022. The American Academy of Optometry Foundation (AAOF) is the 501(c)(3) philanthropic arm of the American Academy of Optometry (AAO). It was founded in 1947 for the “upholding, broadening, fostering, promoting and aiding of optometric education; the profession of optometry and its practitioners.”

The National Average for Gross Revenue at ECP Locations Decreased for the Week of June 13-19, Jobson’s Latest Practice Performance Tracker Shows

By Staff
Wednesday, June 22, 2022 12:24 AM NEW YORK—The national average for gross revenue at ECP locations decreased last week, June 13-19, at a rate of -2 index points. That places gross revenue at a level 4 index points above where it was at this point in time (Week 25) when compared with last year, 3 points above Week 25 of 2020, and 10 points above 2019, according to Jobson’s most recent Practice Performance Tracker. All optical sales categories were either flat or down last week when compared with the previous week, ranging from -3 index points for lens pairs to unchanged for frame units.

Optometry’s Meeting Completes Four-Day Run in Chicago as Leaders Note ‘Optometry Is Advancing’ and Has Many Opportunities to Explore

By Staff
Monday, June 20, 2022 12:27 AM CHICAGO—Thousands of eyecare professionals, industry executives and students converged at McCormick Place in Chicago late last week for the annual Optometry’s Meeting organized by the American Optometric Association (AOA). The meeting, which opened Wednesday, drew nearly 4,000 doctors of optometry, optometric students, paraoptometrics and others, and also marked the first time that many AOA members had been together since the 2019 meeting in St. Louis, as last year’s meeting in Denver was smaller by contrast.

CVS Health Will Exit the In-Store Optical Business, With 46 Remaining Optical Departments Expected to Close By August

By Staff
Monday, June 20, 2022 12:24 AM WOONSOCKET, R.I.—CVS Health will completely exit the in-store optical business by mid-August, a decision the company said that follows from a review of resources and the determination that it should make “a pivot when necessary to invest in health care services and solutions that will make the greatest impact.” The company currently has in-store optical departments in 46 locations, after closing six locations since the end of 2021. The company will retain its CVS Optical digital business, according to a spokeswoman.

VSP Ventures Acquires Two Additional California Practices

By Staff
Friday, June 17, 2022 12:33 AM VSP Ventures acquires two practices, See & Be Seen Frame Benefit for Opening Your Eyes Scholarship starts June 18, ECP’s gross revenue increased substantially, Jobson Tracker says, consumer interest in vision benefits is rising and Midwest Vision Partners announces two new partnerships all topped this week’s VMAIL news feed. Click on the headlines below to catch up on anything you might have missed.

See & Be Seen Frame Benefit for Opening Your Eyes Scholarship Kicks Off on June 18

By Staff
Thursday, June 16, 2022 12:27 AM NEW YORK—The See & Be Seen Frame Benefit will kick off on Saturday, June 18 and will remain active until June 25 at 11:59 p.m. EDT. The benefit, presented by Tarrence Lackran (@TheOpticalPoet on Instagram), features frames with special significance designed by leading independent designers to support The Vision Council's Opening Your Eyes Scholarship (OYES). OYES provides full scholarships and paid internships to high school seniors from underrepresented communities who have an interest in pursuing a career in the optical industry.

The National Average for Gross Revenue at ECP Locations Increased Substantially for the Week of June 6-12, Jobson’s Latest Practice Performance Tracker Shows

By Staff
Wednesday, June 15, 2022 12:24 AM NEW YORK—The national average for gross revenue at ECP locations increased substantially last week, June 6-12, at a rate of 22 index points, recouping and surpassing the -18 index points it declined the previous week during the Memorial Day holiday. That places gross revenue at a level 4 index points above where it was at this point in time (Week 24) when compared with last year, 6 points above Week 24 of 2020, and 11 points above 2019. With gross revenue at 104 index points by Week 24 of 2020, the impact of the pandemic appears to have diminished by that point in time, according to Jobson’s most recent Practice Performance Tracker.

Consumer Interest in Vision Benefits Is Rising, Led by Virtual Eyecare Options, Versant Study Finds

By Staff
Tuesday, June 14, 2022 12:27 AM BALTIMORE—Consumer opinions of the value of vision care as part of whole-body health are rising, according to the results of Versant Health’s newly released third annual Vision Wellness Study. The study also found that more people agree that the ability to identify both eye diseases and chronic health conditions are highly valuable services offered by eye doctors. Additionally, Versant found that the use of virtual eyecare options—including telemedicine, tech-enabled communication, and online eyewear shopping—have both increased year-over year and influence consumer's insurance benefits decisions.

Midwest Vision Partners Announces Two New Partnerships as Group Expands Into Three New States

By Staff
Monday, June 13, 2022 12:24 AM CHICAGO—Midwest Vision Partners (MVP) said it has recently completed two new partnerships, which also expands the group’s presence into three new states. The new eyecare partnerships are with Spectrum Eye Institute (Spectrum), which operates two eyecare locations in Illinois, and Lee Eye Center (LEC), which operates five locations throughout Ohio, Pennsylvania and West Virginia. The terms of the partnership transactions were not disclosed. The new states for Midwest Vision—which is backed by the San Francisco-based private equity firm Alpine Investors—are Illinois, Pennsylvania, and West Virginia.

Regal Healthcare Capital Partners Announces Investment and Formation of InFocus Eyecare

By Staff
Friday, June 10, 2022 12:30 AM Regal Healthcare Capital Partners forms InFocus Eyecare, Bausch + Lomb reports increased sales and decline in net income, ECPs' gross revenue declined, Jobson Tracker says, Innovative Eyewear updates terms of initial public offering and Transitions Optical announces winners of Transitions Innovation Awards all topped this week’s VMAIL news feed. Click on the headlines below to catch up on anything you might have missed.

In First Report as a New Public Company, Bausch + Lomb Reports Increased Sales and Decline in Net Income for its First Quarter

By Staff
Thursday, June 9, 2022 12:24 AM VAUGHAN, Ontario—Bausch + Lomb Corp. (NYSE/TSX: BLCO), in its first financial report since returning to the ranks of independent public companies in May, reported Wednesday that its sales increased 1 percent (5 percent on an organic basis) to $889 million in its first quarter, which ended March 31. The eyecare company also reported net income of $20 million and adjusted EBITDA of $170 million for the first quarter. In the year-ago quarter B+L reported revenue of $881 million. The company noted that in the current quarter foreign exchange had an unfavorable impact on revenue of $29 million.

The National Average for Gross Revenue at ECP Locations Declined for the Week of May 30-June 5, Jobson’s Latest Practice Performance Tracker Shows

By Staff
Wednesday, June 8, 2022 12:24 AM NEW YORK—The national average for gross revenue at ECP locations declined substantially last week, May 30-June 5, due to the Monday Memorial Day holiday falling on the first day of the period being tracked. Gross revenue’s decrease of -18 index points last week (Week 23) brought it to a level of 88 index points. Memorial Day also fell during Week 23 of last year, bringing gross revenue to a level of 83 index points in 2021 at this same point in time, according to Jobson’s most recent Practice Performance Tracker.

Smartglasses Company Innovative Eyewear Updates Terms of Initial Public Offering, With Plan to Raise Approximately $10 Million

By Staff
Tuesday, June 7, 2022 12:24 AM MIAMI—Innovative Eyewear Inc., a Florida corporation and business unit of Lucyd Ltd., has updated its plans for an initial public offering (IPO). The company said in a recent filing with the Securities and Exchange Commission that the offering will consist of 1,538,461 shares of common stock and 3,076,922 warrants to purchase 3,076,922 shares of common stock. Prior to this offering, there has been no public market for Innovative Eyewear’s common stock or warrants, the filing noted.

Transitions Optical Announces Winners of the Transitions Innovation Awards During Ceremony at the 25th Transitions Academy

By Staff
Monday, June 6, 2022 12:24 AM ORLANDO, Fla.—Transitions Optical Inc. announced the winners of its annual Transitions Innovation Awards during the closing ceremony here at the 25th Transitions Academy meeting. The awards recognize both individuals and companies for their innovative efforts to support Transitions lenses. More than 850 people representing many countries attended the event at the J.W. Marriott Grande Lakes. “Honoring this incredible group of Transitions Innovation Awards winners and finalists was a perfect way to round off our 25th anniversary celebration of Transitions Academy,” said Drew Smith, director, North America channels, Transitions Optical.