Two Sydney optometry practices have been acquired by EyeQ Optometrists and will join the network in early February.
The acquisitions come following the announcement in late 2021, that EyeQ Optometrists had changed its strategic direction, with the cessation of the Franchise Associate model. Three of the EyeQ Franchise practices were acquired by EyeQ with the remaining Franchises exiting the group by the end of February. Of these all bar one have elected to be members of Optical Growth Partners.
Independent optometry practices that share our values and are similar operationally and professionally to the existing EyeQ network, are being assessed for suitability
Explaining the decision and path forward, Ray Fortescue, Executive Chairman of EyeQ Optometrists said, “This change has allowed EyeQ to focus on our core business and instead concentrate on growth of the group through acquisition. Independent optometry practices that share our values and are similar operationally and professionally to the existing EyeQ network, are being assessed for suitability”.
The first two practices to join EyeQ Optometrists within the new model have been owned by Peter Kazacos, and are located in Maroubra and Eastgardens, in the Eastern suburbs of Sydney. Having been operating for over 30 years, both practices are well-established and respected in their local communities.
Mr Kazacos and the respective practice teams will transition to being EyeQ employees as part of the ownership transfer. Other than that, EyeQ says there will be minimal change in the Kazacos practices in the first few months as the company’s operations team undertakes training and an operational review.
As is the case for its current network, EyeQ says both practices are experiencing a busy time, particularly as they are inundated with eye care appointments that were delayed during COVID restrictions in 2021.
The first official day of trading for the Kazacos practices, as EyeQ Optometrists practices, is scheduled for Wednesday 9 February 2022.