MetLife has attained an settlement to purchase the managed vision-care business Versant Wellbeing from a team of investors led by Centerbridge Companions and together with FFL Companions for $one.675 billion in an all-cash transaction.
Versant owns the market brand names Davis Vision and Superior Vision, which has about 35 million members. MetLife said adhering to the offer it would turn into the 3rd-most significant vision insurer by membership in the U.S. The business has available team vision since 2012 and it has a fifteen% industry share in U.S. team rewards. It said right after the acquisition it will have about 38 million vision-care members.
It is funding the offer with cash on hand.
“We are confident this acquisition will make our industry-primary team rewards business even more attractive,” Ramy Tadros, president of U.S. business for MetLife, said. “The addition of the sturdy Davis Vision and Superior Vision brand names will