January 16, 2013 - Springer Adis US LLC today announced the asset purchase of its Vision Care Group of media and events by a new company formed by the Vision Care Group's publishing management team. The new company, PentaVision LLC, is based in Ambler, Pennsylvania. Terms of the deal were not disclosed.
PentaVision will continue to produce all Vision Care Group conferences and electronic products, as well as the six magazines in its portfolio: Contact Lens Spectrum, Eyecare Business, Ophthalmology Management, Optometric Management, Ophthalmic Professional and Retinal Physician. The PentaVision management includes Mark Durrick, Douglas Parry, Robert Verna and Roger Zimmer, all currently leaders of operating units within the Vision Care Group at Springer. In addition, Thomas J. Wilson, will act as president of PentaVision and Managing Member of the LLC.
Wilson, a former owner of the Vision Care Group with BCI until 1999, stated at the announcement "The management team at PentaVision has continued to grow and to diversify the core business over the years and has stood the test of time. Impressively, this has included the recent launch of two new print franchises in Retinal Physician and Ophthalmic Professional, as well as the development of an advanced electronic product suite. We feel strongly that this unique domain expertise and our entrepreneurial background will deliver an invigorated business perspective. The management group here at PentaVision is cohesive, determined and intends to build on our legacy of jointly produced success."
Springer acquired the Vision Care Group in December, 2011 as part of a larger divisional acquisition from Wolters Kluwer. Doug Parry, who has launched three of the Vision Care Group's titles, noted that "Springer's investment in these franchises over the past year has been outstanding and driven by the business priorities of Vision Care Group management. Springer's work in coalescing the event business and the core media business has been essential as well. These factors provided the foundation of a mutually beneficial transaction for the employees of the Vision Care Group, for Springer and for the management team. Today, we move forward to fully realize the unique opportunity provided to us by Springer's management in this transaction."
323 Norristown Road, Suite 200
Ambler, PA 19002