Heritage Capital Group is pleased to announce that its client, HMI Buying Group has been acquired by Healthy Eyes Advantage (“Healthy Eyes”). HMI Buying Group, Inc., operates as an eyecare buying group for optometrists, ophthalmologists, and opticians and works with manufacturers and distributors to provide lower pricing on products that its members use in their practices. HMI Buying Group, Inc., was founded in 1983 and is based in Vicksburg, Mississippi.
On November 2, 2017, Nautic Partners, LLC, announced the creation of Healthy Eyes, in partnership with four industry-leading companies. Healthy Eyes has acquired substantially all the assets of Block Business Group, C&E Vision Services, HMI, including Red Tray and Club Zero, and Vision West. As a result, Healthy Eyes will be the largest alliance of eyecare professionals in the country.
Jeff Rinkus, CEO of Healthy Eyes, said, “Together, the four buying groups provide purchasing services and management support to more than 10,000 optometrists, ophthalmologists, and opticians across the country with over $500 million in purchasing power. These numbers give us an opportunity to partner with leading industry suppliers to develop innovative purchasing programs that will further reduce our members’ largest expense, their cost of goods. We will also be building a peer network of independent practitioners to assist with marketing, managed care, staffing, accounting, and other practice management challenges.”
Bill Prescott, Principal of Heritage Capital Group, advised HMI Buying Group in this transaction. Dr. Jerry Hayes, owner of HMI, commented “This is the second transaction that Bill Prescott and Heritage have represented me on, and both have been great experiences! They did a very professional and thorough job of representing my interests through negotiations and complex due diligence process to maximize the value of HMI. There was always a clear line of communication with Bill and a very minimal impact on our day to day operations. I would certainly use them again.”