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Tuesday / May 17.
HomeminewsSpecsavers Invests $100m in Canada Expansion

Specsavers Invests $100m in Canada Expansion

Specsavers plans to invest more than AU$100 million to support the opening of 200 locations across Canada by 2024. The funds will cover 100% of start-up costs for independent Canadian optometrists and opticians to launch community-based clinics and stores while creating 2,000 jobs across the country.

Specsavers, with a global purchasing power and international network of over 3,500 eye care professionals, entered Canada in November 2021.

Specsavers’ intent is to reverse the current trend of consolidation in the Canadian market

“Specsavers is redefining eye health accessibility for Canadians by delivering inclusive clinical care using advanced equipment and quality prescription eyewear,” said Dr Ian Scholfield, Specsavers’ independent Optometry Partner in Nanaimo, British Columbia. “This is particularly important at a time when Canadians are spending prolonged time behind computers and devices, which can lead to eye health issues.”

Specsavers’ intent is to reverse the current trend of consolidation in the Canadian market where a small number of large players – owned by financial institutions, frame manufacturers, or large corporate parents – now own many of the once independently owned optical businesses and clinics in Canada.

“We are placing a significant investment behind our offer of an alternative model that enables Canadian optometrists to put patients’ needs first while owning a thriving business and gaining access to cutting-edge technology,” said Bill Moir, General Manager, Specsavers Canada. Pointing to the Australian market, he said, “the advanced technology used by our professional partners doubled the national rate of detection of glaucoma, and increased diagnosis of other health conditions.”

Through this new investment initiative, Canadian optometrists and opticians will have an accessible opportunity to own a Specsavers clinic and optical store with the cost of establishing each business, which averages $500,000, covered by Specsavers.

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