Question:
What do you know about Total Vision Eye Care?
Answer:
Sterling Vision Inc. Signs Exclusive Agreement to Provide Optical
Services and Products to Network Covering 4.6 Million Lives
EAST MEADOW, N.Y., April 17 /PRNewswire/ -- Sterling Vision, Inc.
(Nasdaq:ISEE), an expanding chain of
Company-owned and franchised retail optical and eye care stores,
announced today that on April 1, 1997, Insight Total
Managed Care, a division of Sterling Vision, Inc., finalized an
agreement with National Preferred Provider Network, Inc.
(NPPN), the nation's largest provider based network, to become the
exclusive optical provider for NPPN's 4.6 million
member group. With consummation of the deal, Sterling becomes one of the
leading Companies providing third party vision
care.
Sterling will organize and administer a closed panel of providers,
including all Sterling stores, which will offer optometric and
opticianry services in locations selected by Sterling to provide the
covered vision programs.
NPPN, headquartered in Middletown, New York, services many major US
Companies, and several government agencies. It
is associated with over 3,200 hospitals and 37,000 ancillary facilities
as well as 330,000 participating doctor sites.
Commenting on the transaction, Robert Greenberg, Chief Executive Officer
of Sterling Vision, stated that, "this agreement is a
significant event in Sterling's expansion into managed care and
establishes Sterling as a major Company in the rapidly growing
area of third party vision care. In addition, this transaction adds a
significant potential patient base to Sterling's 350
company-owned and franchised retail optical and eye-care stores. As a
result, Sterling anticipates this agreement is expected
to have a positive impact on Sterling's financial results."
