By store count, Canada’s largest optical and eye care organization, the NEW LOOK VISION GROUP announced plans to take the corporation private and and alleviate the onerous burden of public company reporting. Dr. Daryan Angle, IRIS VP Business Development introduces the new investors and talks about the rational for the move with Eyes Wide Open Podcast host, Dr. Glen Chiasson.

 

 


About the Guest

Dr. Daryan Angle graduated from the University of Waterloo School of Optometry in 2001. He joined IRIS in 2002 as a practicing optometrist in British Columbia, and shortly thereafter became a franchise partner with IRIS. In 2006 Dr. Angle relocated to Ontario. He currently holds the title of Vice President Business Development and in that role, primarily focuses on buying, partnering and integrating optical stores and optometry practices into the IRIS network.

 


Episode Notes

With over 400 locations and five banners including IRIS, New Look, Vogue, Greiche & Scaff  and Edward Beiner (USA), the New Look Vision Group is the largest optical and eye care entity in Canada.

The New Look group recently announced the company will remove itself from the Toronto Stock Exchange and be taken private through a $50 cash per share purchase by an investor group headed by a US-based private equity firm and the Caisse de dépôt et placement du Québec (CDPQ).

Dr. Daryan Angle, representing New Look, provides insights to the pros and cons of being a public company and how New Look will benefit from the new structure.

Angle explains why the New Look President & CEO, Antoine Amiel, attributed being a publicly traded company to a “quarterly strip-tease”.

Angle introduces the new equity partners and outlines what they bring to the table. He also delves into what the buy out means for New Look brands, their Eye Care Professional partners and associates, and clients.

Angle, and Eyes Wide Open podcast host, Dr. Glen Chiasson, also discuss the ongoing consolidation of independents into corporate entities and the impact on independent optometry.

Details on the transaction and new equity partners are available from the resources links.

Resources

 

 

Dr. Glen Chiasson

Dr. Glen Chiasson

Dr. Glen Chiasson is a 1995 graduate of the University of Waterloo School of Optometry. He owns and manages two practices in Toronto. In 2009, he co-hosted a podcast produced for colleagues in eye care, the “International Optometry Podcast”. He is a moderator of the Canadian Optometry Group, an email forum for Canadian optometrists. As  a host of  “Eyes Wide Open”, Glenn  looks forward to exploring new new technologies and services for eye care professionals.

Dr. Chiasson enjoys tennis, hockey, and reading. He lives in Toronto with his wife and two sons.

Dr. Chiasson splits EWO podcast hosting duties with Roxanne Arnal.


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We live in a time of rapid change and dislocation that rivals any period in recent history.

Change is Everywhere and Accelerating, but…
Anarchists right and left want to dismantle something that has proven to work—flaws and all. The U.S. is in a state of flux politically with sweeping implications.

The pandemic has wreaked havoc globally. Big Tech companies provide many platforms where people can publish both their best and worst thoughts and actions—AND allows for the promotion or demotion of a current demagogue seemingly at will.

Businesses have been dismantled, diminished and destroyed by events beyond their control.

Big and corporate for some of us means better and necessary, while others lament over what happens to small, local businesses and entrepreneurs with long standing, often family-based, individualized values.

What is fair for the individual health care practitioner who wishes to continue the tradition established by sole practitioners over many years of personalized care centering on the aforementioned individualized service and care model?

Is Growth the Only Measure of Success?
Many professionals do not want to go the “corporate” route and watch their creation absorbed by a larger entity that pays no homage to tradition.

The value of passing the torch to a like-minded “pro” who may take care and service to a higher-level building on the sweat equity of the former doctor. This does and can happen.

Many economic gurus are now challenging the wisdom of never-ending growth as a measure of success. We all know that bigger is not always better—that many things get lost in this process.

Where to Draw the Line?
Practitioners accept that there is a time when “enough is enough”.

A time to “stick to your knitting” and perfect what you do best and measure success not just in the financial rewards but also in the smiles and gratitude of your clients/patients.

This means that your goals shift from money to professional competency and increased health care achievement—something you set out to achieve all those years ago in the midst and miracle of your training to do so.

There is an alternative to the corporatization of healthcare providers and suppliers.

History has proven this and will continue to do so.

Jackie Joachim, COO ROI Corp

JACKIE JOACHIM

Jackie Joachim is Chief Operating Officer of ROI Corporation. Please contact her at jackie.joachim@roicorp.com or 1-844-764-2020.


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