DALLAS, TX — January 22, 2018 — In March 2017, Riata Capital Group (“Riata”) announced the formation of Acuity Eyecare Group (“Acuity” or the “Company”), a company that will own and operate leading North American eyecare groups and optometry practices. Acuity launched with a strong platform following the simultaneous acquisition of three cornerstone regional eyecare groups:
— Crown Vision Center, based in St. Louis, which was ranked by Vision Monday as the 26th largest eyecare group in the United States based on locations
— Eyetique, based in Pittsburgh, which was ranked the 30th largest eyecare group in the United States based on locations
— International Eyecare Center, based in Quincy, Illinois, which serves rural communities in Missouri, Illinois and Iowa
Immediately following the initial formation of Acuity, Malbar Vision joined the family and stands as the largest and oldest private optometric practice serving Nebraska. As of December 31, 2017, Acuity operates with 60+ locations across 6 states. Acuity also owns a large, full-service digital lab operation, The First Look Lab, located just outside of St. Louis.
Jeff Fronterhouse, Managing Partner of Riata Capital Group, said: “Based on our successful investment in Vision Source from 2011-2015, we are excited to continue to leverage and build upon our strong network of relationships, experience and track record in the eyecare industry. Acuity Eyecare Group is off to a very strong start and we are seeing the impact in the marketplace of the team’s expertise and efforts. Our continued focus will be to support our Acuity family with the important tools and resources needed to provide their patients with full-scope professional eyecare and the highest-quality product assortment and value. We are committed to keep the momentum going in 2018 and beyond and look forward to sharing our accomplishments, growth and important milestones along the way.”
Acuity will continue to expand its market-leading eyecare platform through the acquisition of additional regional eyecare groups and independent eyecare professionals. Acuity currently has three additional groups under letter of intent, and expects to grow to over 100 locations by mid-2018. This is a direct result of the market’s exceptional response to Acuity’s compelling story, operating philosophy and holistic approach to eyecare.
Since its formation, Acuity has been led by a highly-experienced, successful management team, including Chief Executive Officer Matt Matthews; Chief Financial Officer Doug Shepard; Chief Information Officer Satish Dave; and Vice President of Corporate Development Bret Davis. Throughout 2017 Acuity has continued to build upon this strong leadership team and has now added more world-class talent with tremendous optical and brand-building experience. We are thrilled to announce the addition of Vice President of Operations Shawn Deckert; Vice President of Strategic Initiatives Brian McCrea; Chief Merchandising Officer Meera Dua; and Chief Marketing Officer Lora DeVuono. These most-recent hires enable Acuity to be very well poised for continued growth and expansion across the country. For more detailed information on our outstanding team, please visit AcuityEyecareGroup.com/leadership.
Matt Matthews, CEO of Acuity Eyecare Group, said, “We are building a terrific team of respected and capable industry leaders at Acuity. We recognize that our culture of great people is the most important element to success and will bring our mission to life. We want to empower optometry owners to maximize the value of their practice, spend less time on the day-to-day headaches of being a business owner, and bring those into the Acuity family that share our level of commitment to innovation and patient care.”
As a part of building upon its strong foundation of leadership and industry experience, Acuity will be creating a professional Advisory Board comprised of credible, up and coming leaders in the industry. The Acuity leadership team looks forward to sharing future news about this Advisory Board, important acquisitions, exciting innovation, new talent and continued successes throughout 2018.