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FYidoctors Acquires Vision Source Clinic in Ontario
Posted on April 9th, 2015
FYidoctors is thrilled to announce the acquisition of Markham Optometric Clinic, further expanding our Ontario footprint with this well established Markham location. Formerly a Canadian Vision Source member, this newly acquired FYidoctors practice will be equipped with current diagnostic technology and offer a wide selection of Internal Freeform lens designs as well as many designer and exclusive label frames.
“Transitioning our practice from the Vision Source franchise model to the FYidoctors shareholder model is the right decision for us," says Dr. Gary Gimpel. "Both models exist under the FYidoctors umbrella which we feel offers a significant benefit over other optometry groups in Canada. As a Vision Source member we had access to the majority of the benefits offered by FYidoctors but now, being a part of the FYidoctors brand and network, we feel like we have it all. The custom built, back office infrastructure developed by FYi is often overlooked, yet it creates significant efficiencies for small business. The doctors and staff can in turn concentrate on the patient experience and providing professional care. We are also located in a competitive environment and we think that being able to leverage the FYidoctors brand will help give us a regional competitive boost we desire.”
In October of last year, FYidoctors acquired the Canadian assets and operations, and entered into a licensing agreement with Vision Source, North America’s largest network of private practice optometrists. While FYidoctors and Vision Source Canada continue to operate as separate business units and brands, the acquisition and licensing agreement was designed to create a long-term relationship between the two companies to continually fuel the preservation of independent optometry in North America. The agreement gives Vision Source Canadian franchisees access to multiple benefits (including strengthened buying power, an extensive network of shared knowledge and resources, as well as the Vision Source brand name and marketing support), yet there has been an increased interest among Vision Source franchisees, like Markham Optometric Clinic, in transitioning over to the FYidoctors network to leverage FYi’s complete range of optometric advantages and long term strategic vision.
CEO and President of FYidoctors, Dr. Al Ulsifer, added, “Our Ontario growth strategy continues to unfold with the latest acquisition of Markham Optometric Clinic. The team of doctors at this clinic are well known for their passion of the profession and I am pleased to welcome Dr. Gary Gimpel, Dr. Linda Voisin and Dr. Leon Davids. With more and more challenges rearing up in the industry, even the most fiercely independent doctors are seeing the strength in numbers, infrastructure and strategic security offered at FYidoctors. We continue to believe that a solid network of optometrists can control their own destiny, and endorsement by this team of doctors further validates this vision.”