MetLife Boosts Group Benefits Business With Acquisition

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

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No cliff edge for stores group, says boss

Fears have been growing about the future of Debenhams, but its chairman has told the BBC the plug isn’t about to be pulled at the end of this month.

Mark Gifford says the business has been doing far better than expected and isn’t facing a cliff edge, either.

“We are sitting with over £95m in the bank, more than £50m higher than we expected to have when we went into administration.

“That’s really changed the whole complexion and prospects,” he said.

It is the first interview the company has given since the pandemic which tipped the 242-year-old retailer into its third insolvency proceedings in 12 months.

Debenhams has also recently announced plans to lose another 2,500 jobs to cut costs as it battles for survival.

Administrators are looking at a range of options, including a sale of the business. Liquidators have also been appointed as a last resort.

But Mr

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