Two Sydney optometry practices – along with three former EyeQ franchise practices – have been acquired by EyeQ Optometrists.
Late last year, EyeQ announced “changes to its strategic direction” with the cessation of its Franchise Associate model, which was originally designed for clinically-focused optometrists and dispensers wanting to continue owning their business, without the back-office struggle.
Three existing EyeQ franchise practices have now been acquired by EyeQ, with the remaining franchises exiting the group by the end of this month.
Of these, all except one have elected to become members of Optical Growth Partners, described as a buying group and managed services offering for all independent optometry practices, regardless of their ownership model.
Explaining the decision, EyeQ Optometrists executive chairman Mr Ray Fortescue said it had allowed EyeQ to focus on its core business and concentrate on growth of the group through acquisition.
“Independent optometry practices that share our values and are similar operationally and professionally to the existing EyeQ network are being assessed for suitability,” he said.
The first two practices to be acquired by EyeQ under the new model were owned by Mr Peter Kazacos and located in Maroubra and Eastgardens, in the eastern suburbs of Sydney.
The practices are described as well-established and respected in their local communities. Kazacos and staff from both practices will transition to being EyeQ employees as part of the ownership transfer.
“There will be minimal change in the practices in the first few months as the EyeQ operations team undertakes training and an operational review,” EyeQ stated.
“The practices have been operating for over 30 years and just like the current EyeQ network, are experiencing a busy time particularly as they are inundated with eyecare appointments that were delayed during COVID restrictions in 2021.”
The first official day of trading for the Kazacos practices as EyeQ Optometrists practices was Wednesday 9 February 2022.
More reading
National Optical Care unveils subscription business model for independents
National Optical Care-EyeQ alliance announces new appointment
EyeQ and NOC announce executive reshuffle
