Johnson & Johnson Vision Acquires Sightbox
Source: Johnson & Johnson Vision
Johnson & Johnson Vision continues its fast acquisition pace in 2017 after announcing that it has acquired Sightbox, an online membership-based subscription service for contact lens wearers in the United States. Terms of the deal were not disclosed.
Portland, Oregon-based Sightbox helps patients connect with eye care professionals and addresses a growing consumer preference for more convenient access to eye health services and products. Sightbox services include scheduling a comprehensive, annual eye exam and contact lens evaluation for members, as well as providing them with an annual supply of contact lenses. Currently, members pay a monthly fee of $39.
Sightbox's growth has been primarily fueled by private pay patients who do not have vision insurance, according to J&J Vision. This model encourages people who may not otherwise do so to visit an eye care professional and enter the category.
“Consumer preferences and digital technologies are accelerating a broad shift to e-commerce across many industries,” Ashley McEvoy, Company Group Chairman, responsible for the Johnson & Johnson Vision Companies, said in a company news release. “We are excited about how Sightbox can potentially fuel category growth by meeting consumers where and how they want, and by helping more contact lens wearers connect with eye care professionals through this concierge-type service.”
While Sightbox will become part of Johnson & Johnson Vision, it will operate as a separate business, leveraging its own business model. Sightbox will continue to provide contact lenses from all major manufacturers, not just Johnson & Johnson Vision's Acuvue contact brand.
Sightbox marks the third acquisition completed this calendar year that expands the offerings of Johnson & Johnson Vision. In February, it acquired Abbott Medical Optics, which included cataract, refractive and consumer eye care products, in an all-cash deal worth $4.325 billion. In September, it acquired TearScience, a provider medical device technologies that address meibomian gland disease.
Johnson & Johnson Vision acquired Sightbox through its vision care operating company, Johnson & Johnson Vision Care. Sightbox sales will be reported through the Medical Devices segment, under Vision Care.
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