Spectera is purchasing EyeCare Service Plan

Maryland Watch

September 18, 1998

For the second time in four months, Spectera Inc., a health services company with headquarters in Woodlawn, is acquiring a vision-care plan.

This time, Spectera is buying EyeCare Service Plan, which provides vision benefits for 120,000 people, primarily in Southern California. Terms were not disclosed.

Chief Executive Officer David T. Hall said the acquisition is continuing the strategy of growing from a regional company to a larger national one. "Our goal is to double our size by the year 2000," Hall said. "EyeCare Service Plan is the second of a number of acquisitions we have planned to achieve this goal."

In May, Spectera announced that it was buying Philadelphia-based Group Vision Associates, which provides eye care to 500,000 people. Nationally, Spectera provides eye examinations and glasses for more than 2.5 million people.

Spectera also provides care-management services and owns Crown Optical Laboratory in Baltimore, which makes about a 1,000 pairs of glasses a day for members of its vision plans, and United Optical, a chain of 50 stores.

Pub Date: 9/18/98

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