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WellPoint completes sale of 1-800 CONTACTS

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WellPoint announced in a press release that it completed the sale of its online contact lens retail subsidiary 1-800 CONTACTS to private equity firm Thomas H. Lee Partners. The company also completed the sale of glasses.com and its virtual try-on technology to Luxottica.

On Jan. 9, Primary Care Optometry News previously reported that WellPoint signed the definitive agreement to sell 1-800 CONTACTS.

“1-800 CONTACTS has strong brand recognition and a leading direct-to-consumer model. However, as we prepare for the coming changes to the health care system, we are focused on our core growth opportunities across both our commercial and government business segments," Joseph R. Swedish, chief executive officer of WellPoint, said in WellPoint’s Jan. 7 press release. "Proceeds from this transaction will support our continued capital deployment strategies.”