Practice Tip: Don’t underestimate the simplicity of practice value when selling your practice
“The basic concept of business valuation is cash flow. The larger the entity participating in the transaction, the more basic this concept is,” write Allan Barker, OD, and Greg Stockbridge, OD, MBA, in their article “Preventing practice sales transaction pitfalls.” Potential large-entity buyers are interested in earnings before interest, taxes, depreciation and amortization (EBITDA), the authors explain. Read more.
American Academy of Optometry welcomes over 250 fellows
During the American Academy of Optometry’s (AAO) annual meeting, Academy, which occurred last week, the AAO welcomed 271 new fellows to its ranks. AAO fellows must complete a candidacy process that includes submitting written works for peer review that demonstrate their skills as an optometrist or vision scientist. Additionally, they must sit for an oral exam at the annual meeting, according to a press release.
CooperVision’s vice president of marketing and professional affairs, Americas, receives Gold & Silver Stevie Award
CooperVision announced that Michele Andrews, OD, vice president, marketing and professional affairs, Americas, was awarded a gold Stevie Award for Women in Business in the category of Female Executive of the Year, Consumer Products (more than 2,500 Employees), and a silver Stevie Award for Woman of the Year in Health Care, according to a press release. The Stevie Awards for Women in Business honor women executives, entrepreneurs, employees, and the companies they run worldwide. Andrews was recognized for her leadership in addressing the growing myopia crisis.
Essilor/Luxottica to contribute $300,000 to American Academy of Optometry Foundation’s OD/PhD program
Essilor/Luxottica announced it will give $300,000 to the American Academy of Optometry Foundation (AAOF) OD/PhD program in “recognition of the current demand and need to teach the next generation of optometrists and researchers,” according to a press release. The AAOF’s OD/PhD Program encourages ODs to pursue a PhD in a vision science field, such as physiological optics, biomedical sciences, public health, or neuroscience.
EyeMed Vision Care and The Vision Council Foundation partner to raise eye health awareness and advocacy
EyeMed Vision Care and The Vision Council have established a partnership focused on their shared mission to raise public awareness and advocacy on the importance of overall eye health. This means both organizations will develop and launch a series of tools, resources, and consumer-outreach initiatives to advocate for the importance of eye care and support the essential role vision benefits play in empowering individuals to manage their vision, according to a press release.
Gatorz Eyewear celebrates 35 years in business with product line
Gatorz Eyewear is celebrating 35 years in business. To commemorate this milestone, the company will release a limited-edition 35th Anniversary eyewear collection for the holiday season. The collection will feature two of Gatorz’s top styles, the Magnum and Delta, each adorned with a matching etched topographic map pattern on the frames, according to a press release. This design is inspired by landscapes navigated by military personnel, symbolizing the company’s “enduring legacy and deep connection with the armed forces and the journeys they have undertaken.”
Harrow launches patient access solution and Vevye coverage
Harrow has announced the nationwide launch of a new digital patient access solution in collaboration with Asembia. The multiyear, exclusive partnership expands access to the company’s ophthalmic-branded products by simplifying the prescribing process for practices, according to a press release. ASPN Pharmacies, Asembia’s non-dispensing pharmacy, collaborates with prescribers, patients, and payers to streamline the prescription process. Specifically, health care providers can select ASPN Pharmacies directly from the dropdown menu in their EHR/EMR platforms or place orders directly through the ASPN provider portal. Additionally, Harrow announced that starting Jan. 1, cyclosporine ophthalmic solution 0.1% (Vevye, Harrow) will be included in key formularies managed by major plan sponsors to the Medicare Part D Prescription Drug Program.
Myze launches The Daily Lid Wipe for ocular hygiene
Myze announced the launch of its first branded product, The Daily Lid Wipe. The Daily Lid Wipe is a modern lid wipe formulated with the input of dry eye experts Drs. Laura M. Periman and Cecelia Koetting. Preservative-free, The Daily Lid Wipe contains tea tree oil and hyaluronic acid, as well as other antibacterial and antimicrobial ingredients, like euphrasia, chamomile, and rhamnose. These ingredients make the wipe soft and gentle, yet effective in removing debris, leaving the eye area feeling cleansed and refreshed, according to a press release.
Ocular Therapeutix appoints chief business officer
Ocular Therapeutix has announced the appointment of Namrata Saroj, OD, to chief business officer. Previously Dr. Saroj served as development strategy consultant to Ocular Therapeutix, a position she’s held with the company since February.
Prevent Blindness names Thyroid Eye Disease Awareness Week
Prevent Blindness declared Nov. 18 to Nov. 24, 2024 as its fifth annual “Thyroid Eye Disease (TED) Awareness Week.” As a result, Prevent Blindness will once again provide a variety of free TED educational resources, including comprehensive fact sheets and social media graphics, available in English and Spanish, and a dedicated webpage. This year’s TED Awareness Week is supported by Amgen, Immunovant, Inc., Tourmaline Bio, Inc., and Viridian Therapeutics. For more information on TED, please visit https://preventblindness.org/thyroid-eye-disease/.
UOA announces director of education
The United Opticians Association has appointed Bob Alexander, ABOM, NCLEM, as its director of education. With an associate applied science in opticianry, master designations from both the ABO and NCLE and experience as a spectacle-contact lens licensed optician in his home state of Ohio, Bob is committed to enhancing educational initiatives and resources that will benefit opticians across the country and internationally. OM