VSP acquires Florida vision care firm iCare Health Solutions – Sacramento Business Journal – Sacramento Business Journal

Vision health giant VSP Global continues to expand with a new acquisition.
The Rancho Cordova-based vision insurance and eyewear company announced Wednesday that it’s acquired iCare Health Solutions, a Tampa, Florida-based eye care network and service administrator.
The acquisition was made by VSP Global’s not-for-profit vision insurance subsidiary, VSP Vision Care, which bought the company from Pine Tree Equity Partners, a Miami-based private equity firm that invests in health care services businesses.
“As Florida’s largest integrated eye care provider, iCare Health Solutions further strengthens our presence in the Southeast through their exceptional delivery of patient-centered care for health plans and their members,” said VSP Vision Care President Kate Renwick-Espinosa. “Together, we remain committed to preserving and enhancing the relationship between doctors and their patients.”
Founded almost 40 years ago, iCare Health Solutions has nearly 3 million members. Its network of optometrists and ophthalmologists includes nearly 60 practices and ambulatory surgical centers throughout Florida.
The value of the acquisition was not disclosed.
The iCare Health Solutions management team will continue in their roles, and the company will operate independently, VSP said.
“With VSP’s support, we’ll continue our work to simplify vision care delivery while offering more opportunities to our providers and expanded services to our members,” said Lee Stern, CEO of iCare Health Solutions, in a statement.
This is the second big acquisition VSP has made in the Southeast in recent years. In 2019, it acquired Community Eye Care, a Charlotte, North Carolina-based vision benefits and management company with 252,000 patients and 4,000 doctors in its network.
With 2,834 local employees and $6.19 billion in revenue in 2020, VSP is the second-largest privately held company in the Sacramento region, and one of its largest private employers.
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