New partnership between FYidoctors and VSP Vision Care
Monday, January 6 2014 | 00 h 00 min | News
The FYidoctors network of optometrists and VSP Vision Care Canada have formed a joint venture partnership with the goal of selling eye care insurance programs to Canadian employers.
FYidoctors and VSP have 50/50 ownership of the new enterprise. VSP will market and sell the insurance programs to Canadian employers and will administer them. Covered employees will be able to access eye care from optometrists in the FYidoctors network or in Vision Source Canada franchise locations. FYidoctors acquired the Canadian division of Vision Source in October 2013.
Currently, approximately 270 optometrists service 108 practices affiliated with FYidoctors, and 160 others service Vision Source Canada franchise locations.
“The landscape of Canadian health care, and optometry more specifically, is changing rapidly, and we must remain relevant to our patients,” said Alan Ulsifer, founder and CEO of FYidoctors. “A more competitive and saturated market is making it more necessary to develop a value proposition, and ultimately grow market share.”
Pat McNeil, VSP Global’s corporate communications director, estimates that, in the next 18–24 months, this program could cover 100,000 patients.