MetLife, Inc. MET recently inked a definitive agreement to acquire Versant Health, which is a leader in vision care and owner of renowned Davis Vision and Superior Vision, from private investor group headed by Centerbridge Partners.
Subject to customary approval, the all-cash transaction valued at $1.675 billion is likely to conclude by the end of fourth-quarter 2020.
Benefits of the Deal
The deal will enable MetLife to have access to around 35 million members of Versant Health, which in turn, is likely to enhance its vision benefit offering. Notably, MetLife has an impressive record of providing group vision insurance to customers since 2012. The latest deal will not only make it the third largest U.S. vision insurer with around 38 million members but also benefit clients, who will have access to the largest provider and plan options network of Versant Health.
Apart from making MetLife a leader in managed vision