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Cole Managed Vision was created in 1988 as part of Cole National Corporation
(NYSE: CNJ), a billion dollar retailer originally founded by Joseph Cole in
1946. Cole vision was made up of 3 separate divisions: Pearle Vision
(optometrists and lens providers), Cole Licensed Brands (providing optometry
services in large retail stores such as Sears), and Cole Managed Vision (CMV).
Beginning in 1988, CMV developed, marketed, and administered group vision care
plans for employers, associations, and health insurance plans. It was the
largest vision care network in the country, and it is estimated that more than
80 million people received vision benefits through health plans and individual
employers who contracted with CMV.

Changes at Cole Vision

Luxottica, a $3.5 billion company, purchased Cole National (including CMV) in 2004 and began integrating CMV into its existing EyeMed Vision Care operations that were based in Cincinnati. In addition to owning EyeMed, Luxottica is home to many well-known fashion brands such as Anne Klein and Versace, as well names from the vision care industry that include Pearle Vision, Sears Optica, and Target Optical; all of these companies have been acquired as part of CMV.

While still in state of transition, EyeMed claims that the combination of CMV and EyeMed, which brings together over 100 years of experience in the vision care industry, will be positive for all who are involved. They feel there is strong synergy in the combination of Luxottica, the world's largest maker of eyeglass frames; LensCrafters and Pearl Vision, the nation's leading optical vendors; and CMV, the leading provider of vision care in the country). They feel the EyeMed program will allow member to choose both the provider and products necessary to maintain eye health at a reasonable cost.

Cole Vision Members

One thing is certain: the integration of Cole Vision and EyeMed has created a significant mass of users. There are approximately 120 million people now looking to EyeMed for their eye care.