Bernie Lanigan Optometrist (Townsville, Queensland ) and The Eyecare Place (Abbotsford, Victoria) have become the first optometry practices to join The Optical Company (TOC) following its own acquisition by Australian Stock Exchange-listed Healthia Limited in late 2020.
Bernie Lanigan Optometrist joined Healthia Ltd on 13 May, and The Eyecare Place will join in June.
Colin Kangisser, who founded TOC and is now CEO of Healthia’s Eyes & Ears Division, and Executive Director said the acquisitions bring the number of optometry practices within the group to 43.
Clear Alignment, Strategic Direction
Speaking of the acquisitions he said there is a clear alignment between Healthia and the previous owners of the practices, and that their locations made strategic sense.
“Both Bernie (Bernie Lanigan Optometrist) and Belinda (The Eyecare Place) are fantastic operators and people, supported by strong teams and have built successful businesses with loyal customers. Their focus on providing quality eye care and service is a great fit for our network, meaning they can simply keep doing what they do well and we can support them to take the businesses to the next level.
Healthia acquired TOC in late 2020 for a purchase consideration of AU$43m, as part of its strategy to acquire businesses in optometry, physiotherapy and podiatry.
Mr Kangisser says the model is proving to be effective.
“The Healthia model and success comes from partnering with allied healthcare professionals. As the Eyes & Ears division, The Optical Company continues to operate with the same DNA as it always has and with the same management group – we are an optometry led business and value our people.
they can simply keep doing what they do well and we can support them to take the businesses to the next level
“We often refer to ourselves as having the support systems of a corporate and energy of an independent, which allows us to provide great support to our store teams whilst staying nimble and ensuring everyone within the business is heard and can make a difference to how we operate.”
He continued, “Healthia has provided us with greater ways to support our stores, with new technology, training opportunities and shared learnings between our optometry division and Healthia’s other allied heathcare divisions. Ultimately, being part of a publicly listed company also means we have the financial capacity to bring onboard new stores and do it quickly.”
With a network of over 200 locations (the majority across optometry, physio and podiatry), Mr Kangisser said there are many opportunities to cross-promote services and share learning.
“We are already working closely with other divisions in Healthia to cross-promote locations. Further, plans are well underway for Healthia’s Inspired Conference in October 2021, which will be one of the largest allied healthcare conferences in Australia, bringing different professionals together for several days of learning from leading speakers and each other. The strategy for growth is still very much the same – to grow organically in existing stores through providing better products and services to our customers and bringing onboard new stores like Bernie Lanigan Optometrist and The Eyecare Place.”
Mr Kangisser confirmed that the company continues to talk to interested vendors. Contact Russell Johnston – Group Manager Business Development and Property, The Optical Company – for a confidential discussion (AUS) 0412 124 477 or emailed via email@example.com.