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The acquisition received regulatory approval from the California Department of Managed Care and the Connecticut Department of Insurance. Under the terms of the agreement, Marchon will become a wholly-owned subsidiary of VSP. Al Berg, Marchon president and CEO, and Larry Roth, executive VP of Marchon, along with the Marchon global team will continue in their current roles. Marchon will operate from its New York-based headquarters as an independent entity within the VSP organization. Altair(R) Eyewear, the VSP-owned eyewear company, will become a division of Marchon and remain in its Rancho Cordova, Calif., headquarters. "Bringing together the world-class products and expertise of Marchon with Altair, VSP's for-profit eyewear company, creates an integrated organization that benefits eyecare professionals and their customers," says Rob Lynch, president and CEO of VSP. "Together we will deliver value by focusing on quality and operational excellence." Marchon manufactures and sells branded and proprietary eyewear and sunwear for such internationally-recognized brands as Calvin Klein, Coach, Emilio Pucci, FENDI, Jil Sander, Karl Lagerfeld, Michael Kors, Nautica, Nike, Oscar de la Renta, Sean John and X Games. Additionally, the company manufactures its own collections of eyewear including products such as Airlock(R) and Flexon(R). Marchon offers the North American optical industry the most widely-used practice management and electronic medical records software through OfficeMate(R) Software Solutions. The acquisition merges OfficeMate with VSP's Eyefinity(R), the leading Web-based eyecare business management partner, to form the industry's premier eyecare business solutions organization.
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