Centerbridge Partners, L.P. has reportedly agreed to purchase Davis Vision, Inc., the managed vision care subsidiary of HVHC Inc., a wholly-owned subsidiary of Highmark Inc.
As part of the agreement, Davis Vision will reportedly be combined with Centerbridge's existing managed vision care portfolio company, Superior Vision, and Highmark will acquire a minority ownership interest in the combined Davis Vision-Superior Vision company.
And in a separate transaction, Centerbridge will reportedly acquire a minority equity stake in Visionworks, HVHC's optical retail subsidiary. Highmark will retain a controlling ownership interest in Visionworks.
These transactions are reportedly expected to close in the fourth quarter of 2017, subject to regulatory approval.
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