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.