ASX-listed Healthia has entered into a binding agreement to acquire the eight-practice business LensPro Optometrists, securing its largest optometry acquisition since its 2020 takeover of The Optical Company.
The allied health group announced the deal on 24 December. Once finalised on or before 28 February, Healthia’s optical practice tally will increase to 53, with LensPro helping expand its reach in southeast Queensland and northern NSW. The value of the transition was not disclosed.
LensPro’s Queensland locations are in Booval, Capalaba, Westfield Carindale, Westfield Garden City Mount Gravatt, Westfield Helensvale, Loganholme and Mount Ommaney, with its sole NSW practice in Tweed.
Mr Aaron Kangisser, general manager of The Optical Company within the Eyes & Ears division of Healthia, told Insight the LensPro acquisition was the largest optical partnership since The Optical Company joined Healthia with its 41 locations more than a year ago.
“[LensPro] introduces additional highly experienced optical professionals, offering fresh insights into how we can develop operations and ultimately benefit the wider portfolio,” he said.
“Adding eight stores to our existing network gives us even greater scale and particularly strengthens our exposure in southeast Queensland and northern NSW. LensPro’s first store opened in 2008. The stores are located within busy and convenient shopping centres and offer their signature one-hour service utilising in-store labs.
“Furthermore, this new partnership demonstrates our ambition to continue to grow the portfolio. We are currently in advanced discussions with many business owners and the LensPro deal shows that with an ASX-listed company behind us, we are able to move quickly through discussions and have the backing in place to support these types of transactions.”
Kangisser said his team had known the LensPro business for some time and had always held it and the way it operated in high regard.
“LensPro has a stable and experienced team and importantly a well-known and trusted reputation in the community. The mix of products and their optometry-led approach align well to our existing business,” he said.
“Post LensPro, Healthia’s optical division will have grown to 53 stores. With a solid pipeline of further businesses to join the group in 2022, we look forward to welcoming both the LensPro team and others on board.”
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