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An Eye for an Eye
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Business New Haven
11/29/1999
By: Tammy Rachau
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WATERBURY - A recent merger has made Connecticut home to one of the nation's largest providers of eye health and vision care services. OptiCare Eye Care Centers Inc. of Waterbury and Prime Vision Health Inc. of Raleigh, N.C. have completed a merger to create OptiCare Health Systems Inc. The new company, headquartered in Waterbury, began trading on the American Stock Exchange on August 16.
According to chairman, president and CEO Dean Yimoyines, OptiCare offers a broad range of integrated eye health services to both patients and other eye-care practitioners. “We see a business opportunity in providing professional services that can reduce costs, increase efficiencies and attract new patients,” Yimoyines said. “We will market information systems, practice management, marketing and other services to other eye-care practices throughout the country. We believe our strategy of providing a diverse platform of value-added services will position us well for strong continued growth in the eye-care industry.
The merged company becomes the 14th-largest optical retailer in the country and the nation's largest medical/surgical managed-care contractor, providing eye health and vision benefits to more than five million lives in nine states. A Rocky Mount, N.C. division supplies optical, ophthalmic and medical supplies to more than 4,000 ophthalmology and optometry practices, making OptiCare the fourth largest wholesale eye products buying group in the U.S. In addition, the company is Connecticut's largest provider of eye health and vision services, with 23 practice locations statewide and three state-of-the-art ambulatory surgical centers in Waterbury, Norwalk and Bridgeport.
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