Delta Dental of Missouri Acquires Advantica EyeCare
ST. LOUIS—In a move which represents an expansion of Delta Dental’s vision coverage, currently offered to members in six states, Delta Dental of Missouri has announced the acquisition of Advantica EyeCare, a Clearwater, Florida-based vision benefits provider with 2.4 million members nationwide and annual revenue in excess of $46 million.
Effective Feb. 4, 2010, Advantica EyeCare became a wholly-owned subsidiary of Delta Dental of Missouri’s Essex Holding Company. 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 later this spring. Advantica EyeCare will soon begin offering dental health benefit options to its clients, a statement said, adding that 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,” commented 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. “We are a company that takes pride in providing superior quality, exceptional service, and affordable benefits. We share these goals with Delta Dental and that makes us a good fit,” commented Sanchez.
Advantica EyeCare employs 90 individuals 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 eyecare providers nationwide.
Delta Dental previously has offered vision coverage to its members in Arkansas, California, Kentucky, Michigan, Wisconsin and Arizona—under the name DeltaVision. Through an arrangement with EyeMed Vision Care, the DeltaVision program offers discounts on eye exams and eyewear. ■ ■
