February 5, 2014

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Article

1-800 CONTACTS Sold to Private Equity Firm

By Devin Felix

February 5, 2014

Draper — 1-800 CONTACTS has been sold by WellPoint, Inc. to private equity firm Thomas H. Lee Partners, L.P. (THL). Financial terms of the transaction were not disclosed. WellPoint and THL had signed a definitive agreement to sell the online contact lens retailer last month.

Tim Roush, chief marketing officer of 1-800 CONTACTS, said the company doesn’t anticipate significant changes in its Utah operations. “The leadership of this company is fully committed to Utah,” Roush said.

WellPoint, a health benefits company, sold 1-800 CONTACTS in order to focus more on its healthcare services during changes to the national healthcare system.

1-800 CONTACTS’ founder and chief executive officer Jonathan Coon will retire from his position and the company’s current president, Brian Bethers, will succeed him as CEO.

“On behalf of all of us at 1-800 CONTACTS, I want to thank Jonathan Coon for his vision in founding this company, his leadership in developing our culture, and his commitment to enhancing our technology platform and tools on which we will continue to build,” Bethers said.

 

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