PITTSBURGH — Highmark is selling its controlling stake in eye-care retailer Visionworks to vision services VSP Global.
The announcement on the definitive agreement was made Thursday afternoon by VSP Global, which owns a vision benefits firm called VSP Vision Care with 90 million members nationwide as well as Marchon Eyewear and VSP Optics. A purchase price was not disclosed and regulatory approvals will be needed before the sale is completed.
Visionworks is one of the largest retail chains of eye care services in the country, with about 700 locations in 40 states. It's based in San Antonio, Texas, and has more than 5,000 employees. Highmark Health's President and CEO David Holmberg had been the president and CEO of HVHC Inc., which includes Visionworks. It was formerly known as Eye Care Centers of America (ECCA). Highmark Health is the parent company of Highmark.
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