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2001
Allergan Joins VisionWeb as Third Equity Investor AUSTIN , Texas —Allergan has joined founders Essilor of America and Johnson & Johnson Vision Care as an equity investor in VisionWeb, the business-to-business ophthalmic Internet site that plans a “beta roll-out” this spring. Allergan has also agreed to market VisionWeb as its preferred online optometry business exchange for products and services; it will market the site on certain contact lens-care products and through its optometrist sales force to U.S. ODs. In addition to Allergan’s own corporate website, VisionWeb will serve as the exclusive optical Dennis Upah, president and chief executive officer of VisionWeb, said Allergan’s investment in the site “confirms the growing consensus among leaders in the industry that VisionWeb has the proprietary technology, the necessary neutral business philosophy, the management expertise, and the financial commitment to provide end-to-end connectivity for all participants in the $25-billion U.S. eyecare market.” VisionWeb was founded last September by Essilor of America and J&J Vision Care as an online eyecare network and business exchange. Vision Monday Volume Number: 15:05 Issue: 3/12/2001
VisionWeb Announces Test-Market Plans New venture begun by Essilor, J&J sets ambitious agenda At an Essilor sales meeting held here earlier this month, Dennis Upah, president and chief executive officer of VisionWeb, announced that the Austin, Texas–based independent start-up will conduct “a beta roll-out” involving eyecare professionals, a group of wholesale laboratories, and Essilor and Johnson & Johnson products. The test, which will involve only a portion of VisionWeb’s functions, will be limited to a single U.S. market, which he did not identify. Upah did not indicate when VisionWeb would be launched nationally. However, he outlined a broad menu of features and services VisionWeb plans to provide to various segments of the optical industry. For example, eyecare professionals will be able to remotely order ophthalmic lenses, frames, contact lenses, and office supplies, check the status of their order online, submit insurance claims to providers, and access a practice-management system. They will also be able to receive continuing education on-line, and set up their own “hosted” Web page. In the past two years, Essilor has set up websites for approximately 20,000 eyecare practitioners throughout the U.S. Optical laboratories will be able to use VisionWeb to process remote lens orders with frame tracings, order frames and lenses, and access other data from eyecare practitioners. Manufacturers and distributors will be able to receive remote orders from labs. VisionWeb also plans consumer applications for the site. Consumers will be able to access a virtual frame gallery, locate an eyecare practitioner near them, schedule appointments with practitioners on-line, order contact lenses online, and view eyecare content. VisionWeb plans to make money by charging transaction fees; the fees will be set by various committees consisting of equity partners as well as representatives from other industry groups. The fees may vary according to the type of service and customer, Upah said. VisionWeb has already raised approximately $40 million in cash, primarily from its two initial equity partners, Essilor and J&J, according to Upah. He said VisionWeb is seeking other equity partners, which could include suppliers from the pharmaceutical, lens, frame and practice management sectors. Upah said VisionWeb wants equity partners that can help in achieving three main goals: “We want to reduce operational inefficiencies across all segments of the value chain, tap into latent consumer demand, and leverage the volume of the entire industry, but keep its cottage-industry nature intact.” Vision Monday Volume Number: 15:02 Issue: 1/29/2001 |
