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WellPoint in agreement with 1-800 CONTACTS
INDIANAPOLIS – WellPoint Inc. announced it has entered into an agreement to acquire 1-800 CONTACTS Inc. The acquisition is expected to close in the third quarter of 2012.
“1-800 CONTACTS has rapidly expanded through exceptional brand recognition, convenient customer service and an industry-leading direct-to-consumer model,” Angela F. Braly, chair, president, and CEO of WellPoint, said in a press release. “We believe these assets will drive continued strong future growth in the eye wear marketplace and also significantly enhance our efforts to build trusted relationships with consumers across the entire country.”
1-800 CONTACTS allows customers to purchase contacts lenses online at contacts.com, through its toll-free number and on mobile devices. The company also offers frames and lenses through its glasses.com website.
WellPoint expects its 2012 net income to be $7.80 per share, including 19 cents per share of net investment gain from the first quarter of 2012, according to the press release. Financial terms of the transaction were not disclosed.