Delta Dental of Missouri has bought Advantica EyeCare, a Florida-based vision benefits provider. Advantica EyeCare, which has 2.4 million members across the U.S. and annual revenue of more than $46 million, became a wholly owned subsidiary of Delta Dental, effective February 4.
Delta Dental, which had revenue of more than $400 million in 2009, is the sole investor and owns 100% of Advantica EyeCare, which has 90 employees. Financial terms of the deal were not disclosed, but the management teams and staffs of both companies will remain in place, according to the companies.
Delta Dental said it is preparing to offer group vision plan options later this spring, and Advantica EyeCare will soon begin offering dental health benefit options to its clients.
"Scientific research continues to suggest strong connections between obtaining regular, preventive oral health and vision health exams and maintaining optimal overall health," Delta Dental President and CEO David Haynes said in a press release. "Many systemic diseases can be detected with regular oral and vision exams, including diabetes, hypertension, and some cancers. This pairing enables us to support our clients with quality, affordable, specialized health benefits that improve the health of their employees while helping to control healthcare costs."
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