Delta Dental of Missouri has acquired Advantica EyeCare, a Clearwater, Florida-based vision benefits provider with 2.4 million members nationwide and annual revenue in excess of $46 million.
Advantica EyeCare became a wholly-owned subsidiary of Delta Dental of Missouri’s Essex Holding Company on Feb. 4. With revenue of over $400 million in 2009, Delta Dental of Missouri is the sole investor and has acquired 100 percent of Advantica EyeCare’s assets.
With the acquisition completed, Delta Dental of Missouri is now preparing to offer group vision plan options this spring. Advantica EyeCare will soon begin offering dental health
benefit options to its clients.
The management teams and staffs of both companies will remain in place.
“We’re excited to add vision benefits to our portfolio of products and to have Advantica EyeCare join our Delta Dental of Missouri family of companies,” said David Haynes, president and CEO of Delta Dental of Missouri.
Richard L. Sanchez will continue as Advantica EyeCare president and CEO and will also join the Essex Holding Company’s senior management team.
Advantica EyeCare employs 90 people who work to provide vision benefits to its more than two million members through 780 employer groups, as well as managed care companies, Medicare HMOs and Medicaid plans. Its network encompasses 16,000 contracted eye care providers nationwide, including major retail optical locations and private practitioners.
Delta Dental of Missouri, a nonprofit organization, is the dental benefits leader in Missouri and a member of Delta Dental Plans Association, the largest dental benefits provider in the U.S. More than 90 percent of Missouri dentists participate in a Delta Dental network and four out of five dentists participate nationally.
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