Advancing Eyecare (AEC) announced it has acquired Ohio-based ophthalmic instrument supplier Eyefficient.
First up: Advancing Eyecare.
Serving eyecare professionals across North America, the Jacksonville, Florida-based medical equipment supplier is comprised of a partnership of eyecare instrumentation companies within the ophthalmic equipment industry:
- Lombart Healthcare (now Marco Lombart)
- Marco Healthcare (now Marco Lombart)
- Enhanced Medical Services (EMS)
- Veatch Ophthalmic Instruments
- Santinelli International Inc
- S4Optik
- INNOVA Medical (Canada)
Its offerings: Ophthalmic equipment (new and pre-owned), repairs and maintenance services, equipment protection plans, and financing services.
That’s quite a few companies …
Indeed it is. In fact, two of those business units—Marco Healthcare and Lombart Healthcare—recently combined under one company: Marco Lombart, effective July 1, 2024.
What’s offered: With an extensive portfolio of advance technology involving 9,000+ products, a few notable ophthalmic equipment includes:
- Lombart CS-6 Chair & Stand Combo
- Olleyes VisuALL ETS pro
- Marco TRS-6100 Automated Refraction System
- Marco Ultra M5 Slit Lamp
- Reichert Tono-Pen AVIA Handheld Tonometer
- Optopol PTS 2000 Automated Projection Perimeter
See the complete list of products, services, financing, and more.
Nice! Now, isn’t AEC a portfolio company as well?
Yes it is! As of 2022, when AEC partnered with a U.S.-based private investment firm (Cornel Capital).
How this benefited the company: AEC expanded its overall ECP reach and capability in providing high-quality products/services across the country.
Gotcha. Next: Eyefficient.
Based in Twinsburg, Ohio, Eyefficient is an ophthalmic equipment supplier of cost-effective products, including: imaging systems, slit lamps, exam room supplies and equipment, as well as face and breath shields.
Notably: The company is the North American distributor for MediWorks, a global supplier of ophthalmic diagnostics instruments.
So how are both players benefiting from this deal?
For AEC: Via the use of Eyefficient’s products, CEO Jim McGrann noted the newfound advantage of providing “third-party distributors and independent sales representatives a more comprehensive selection of technology” as well as support services.
For Eyefficient: CEO Mark Newkirk also noted that, thanks to AEC, the company is now enabled to “expand our best-in-class installation and repair service offering
Lastly … any financial details available on this acquisition?
Alas, none were disclosed with the companies’ announcement. But definitely stay tuned for future numbers …