The Montreal-based manufacturer and distributor of eyewear joins the principal doctor-led and owned company in Canada
CALGARY, AB and MONTREAL, Sept. 7, 2022 /CNW/ - FYiHealth Group, Canada's leading healthcare organization, is pleased to announce that it reached an agreement to acquire WestGroupe. Following this announcement, WestGroupe will continue to operate independently from FYi Health.
"We are delighted to welcome the WestGroupe team to FYi Health Group," said Dr. Alan Ulsifer, Chair, and CEO of FYi Health Group. The optical and eyecare market is changing, with new entrants constantly trying to disrupt the current procurement of eye care and eyewear. One of the main goals of this acquisition is to work with our industry colleagues and grow as a team to advocate for fair wholesale pricing in the market. This partnership will have a material positive impact for both FYidoctors and WestGroupe customers."
"Since its inception, WestGroupe has strived to be a leader in the North American optical industry by constantly trying to have a forward-looking approach to our business and industry. Our focus will always be to ensure that independent ECPs have the products and programs they need to be competitive in this ever-changing marketplace. Our partnership with FYiHealth Group will allow us to develop new ways to add value to our customer base. WestGroupe will continue to operate separately under the direct management of the Suliteanu family and Mike Debono. FYiHealth Group was formed with the vision that doctors joining forces would be the future of the profession and the industry. We are proud to be joining a team that has been a fierce advocate of this amazing industry we have in Canada," said Michael Suliteanu, President of WestGroupe.
Terms of the transaction are not being disclosed.
ABOUT FYi HEALTH GROUP
FYi Health Group is Canada's leading diversified healthcare organization. Doctor-led, professionally managed, and patient-focused, the organization concentrates on delivering outstanding eye care and medical aesthetics treatments along with patient-centric products and services. Recognized as one of Canada's Best Managed Companies in 2020, 2021 and 2022, the organization operates over 300 locations across the country. Rooted in a mission to enhance life, FYi Health Group supports a wide array of philanthropic causes and initiatives. Through numerous community-centric programs and the Enhancing Life Foundation, FYi Health Group enhances the lives of Canadians both inside and outside its clinic doors. For more information, please visit https://fyihealthgroup.com/
Established in 1961, WestGroupe is family operated with over 60 years of industry insight. Our mission is to provide unique and superior quality eyewear for the fashion-focused consumer. We are driven by our commitment to excellent customer service and exceptional products. WestGroupe is dedicated to defining future standards in the optical industry by developing, creating, and supporting innovative products and services that allow our customers to succeed. WestGroupe offers a premium selection of international brands in over 40 countries, including FYSH, KLiiK denmark, EVATIK, Superflex®, and OTP.
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