WellPoint completes purchase of 1-800 Contacts

WellPoint completes deal for glasses and contacts retailer 1-800 Contacts; terms not disclosed

Associated Press

INDIANAPOLIS (AP) -- Health insurer WellPoint Inc. said Wednesday it completed its purchase of contact lens retailer 1-800 Contacts Inc.

1-800 Contacts sells contact lenses and glasses over the phone and over the web at www.contacts.com and www.glasses.com. WellPoint announced the deal June 4 and said it closed faster than expected. The company initially said the sale would be complete early in the third quarter.

WellPoint is the second-largest U.S. health insurer in terms of enrollment and revenue, and 1-800 Contacts is its first business outside of selling health care coverage. It did not disclose the terms of its purchase of 1-800 Contacts from private equity firm Fenway Partners.

1-800 Contacts is based in Draper, Utah, and WellPoint said it has around 3.3 million customers.

Shares of WellPoint lost 41 cents to $71.47 in afternoon trading.

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