The Optical Company (TOC), part of allied health group Healthia Ltd, has entered agreements to acquire iconic regional Victorian optometry network Kosmac & Clemens and the two-clinic Vision Eye Health on the Gold Coast.
The latest acquisitions bring TOC’s total footprint to 59 stores. Across the past two years the firm has expanded its network by 40% by bringing on board well-established optometry businesses. The network of also comprises nib Eye Care, The Optical Co, LensPro, Kevin Paisley Optometrists, Stacey & Stacey Optometrists plus independents Lanigans, John Holme Optometrists and The Eye Place.
According to a statement, Kosmac & Clemens is an optometry-led network founded in 1992 with a strong reputation in the local area and respected across the broader optical industry.
The business’ practices are well established across central Victoria, including the foundation clinic in Kyneton, as well as Bendigo, Heathcoate, Castlemaine, Woodend and Maryborough.
The addition of Kosmac & Clemens complements Kevin Paisley Optometrists as a second iconic regional Victoria optometry brand to join the TOC network, the company said.
Vision Eye Health, founded by Mr Gary Bormann, is family-led, with Rebekah continuing the legacy started by her father who practised optometry for more than 35 years. The two clinic locations in Southport Park and Runaway Bay increases TOC’s presence on the Gold Coast to four locations.
“It’s a privilege to be in a position to welcome such fine optometry businesses with such wide-reaching industry respect to our company…with strong local community working relationships and teams who are enthusiastic about optical care and customer service.” Mr Colin Kangisser, CEO of The Optical Company and Healthia director said.
TOC said it has a proactive approach to identifying potential stores, supported by Healthia for both outright purchase and partnership models.
“With a 30-year commitment to servicing the eyecare needs of Central Victorians, we are very proud of the reputation we have established and naturally there was a lot of interest as we started looking at succession,” Mr Edward Kosmac, optometrist and founding partner of Kosmac & Clemens, said.
“When considering the options, Healthia and The Optical Company represents the right ethos to be the ideal custodian of our business, carrying on our legacy well into the future, and is well equipped for the support of our teams as Kosmac & Clemens enters a new chapter.”
For TOC, in addition to multi-site acquisitions such as LensPro and now Kosmac & Clemens and Vision Eye Health, it has been a productive 12 months with extensive refurbishments of well-established stores in Townsville and the flagship Kevin Paisley Optometrists & Hearing in Geelong.
In late 2022 the first multi-discipline site, with a redesigned The Optical Co Charlestown store, re-opened in an extended retail space shared with NaturalFit Footwear & Podiatry – a retail group that is part of the Feet & Ankles division of Healthia.
“Health and wellbeing continue to be important for Australians,” Mr Wes Coote, Healthia CEO and director, said.
“As a leader in this space the ability to offer clients even more options within our broader network with new purchases of existing clinics plus our unique position to develop new sites that combine multiple complimentary disciplines, reflects the demand by clients for great care, familiar faces and continued trusted presence in the local community.”
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