Vision Now December 2020

V

VV DECEMBER 2020

DHP652-2

Vision Now magazine

A brand of the Michael Pachleitner Group Online shop: shop.michael-pachleitner-group.com

N AVA OW IN T ILABL OR E IC

Daily disposable sphere and toric contact lenses with Smart TouchTM technology for easier, hygienic handling*

Contact lens ć˜€tting has never been simpler with our new online Toric Calculator: toric.meniconcalculator.com The unique eco-friendly packaging ensures the wearer only touches the outer surface of the lens.

Now available in sphere and toric.

sphere

toric

If you require more information on Menicon contact lenses visit: www.menicon.co.uk *Evaluation of Diminished Microbial Contamination in Handling of a Novel Daily Disposable Flat Pack Contact Lens, M Nomachi et al, Eye & Contact Lens, Vol 39, No 3, May 2013

V

Inside

VV

Vision Now magazine is published by Peekay Publishing Ltd for The PK National Eyecare Group Ltd, the UK’s largest purchasing group for independent opticians.

15

29

19

News 4 7 9 11 13

No rise in GOC fees LOC awareness drive Tentative welcome on ESR progress AR coating promotion VAO Christmas appeal

Editor’s comment If there’s one thing the Covid-19 pandemic has taught us it’s that – in the immortal words of Billy Ocean – “when the going gets tough, the tough get going”. The way the profession and industry has adapted, rallied, collaborated, and welcomed the chance to come together – both in business and as primary eye health care clinicians – has been inspiring.

13 An independent view Shaping the future of optometry

15 Developing thoughts Positive outlook for industry

19 Product profile Bringing back the 70s

20 Company & product profile Innovation, expertise and service

24 Product profile What is ‘normal’ anyway?

26 Business & finance Practice valuation insights

28 Style spotlight Luxurious concepts and sporting escapades

30 Suppliers’ directory

Despite practitioners being hugely affected by Covid-19, whether in their business, career or personal life, the show has gone on. Webinars, virtual conferences, remote triage, Zoom and Teams have been a professional lifeline for many. It has been a stressful and worrying time for us all, but as Phil Mullins highlights in this month’s Developing Thoughts, the independent sector has more than held its own – and is now well equipped to face whatever the New Year brings.

The wheels of the optical industry never stop turning and so we end the year with a wealth of products and services from NEG’s preferred suppliers to showcase – from Menicon’s expanded portfolio of contact lenses, to stylish eyewear styles from the likes of Atlantic Optical and Go Eyewear. And if Covid-19 has brought forward your plans for selling up and retiring, don’t miss our business article on how to avoid ‘giving away your crown jewels’.

Vision Now will return in February with all the latest news, products and business insights to support your independent practice. In the meantime, do follows us on LinkedIn and Twitter for regular supplier news, events and updates. All that remains is to wish all of our readers a very healthy and happy Christmas and New Year.

Nicky Collinson

Editor

Nicky Collinson BA (Hons) nicola.collinson@nationaleyecare.co.uk

Editorial PA

Sally Spicer s.spicer@nationaleyecare.co.uk

Fashion Editor

Joan Grady jgparischats@wanadoo.fr

Business Editor Phillip Mullins FBDO p.mullins@nationaleyecare.co.uk Design and Production

Rosslyn Argent BA (Hons)

Publisher

Michael C Wheeler FCOptom DipCLP FSMC FAAO

Editor The Editor welcomes letters, articles and other contributions for publication in the magazine and reserves the right to amend them. Any such contribution, whether it bears the author’s name, initials or pseudonym, is accepted on the understanding that its author is responsible for the opinions expressed in it and that its publication does not imply that such opinions are those of The PK National Eyecare Group Ltd. Articles submitted for publication should be original, unpublished work and are accepted on the basis that they will not be published in any other journal. Acceptance of material for publication is not a guarantee that it will be included in any particular issue.

Copyright © 2020 for Peekay Publishing Ltd. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, without the written permission of the publishers. Such written permission should also be obtained before any part of this publication is stored in a retrieval system of any nature.

@PK_NEG VISION NOW is published by Peekay Publishing Ltd for The PK National Eyecare Group Limited, Clermont House, Cranbrook, Kent TN17 3DN VISION NOW is printed by P&P Litho Ltd, Ashford, Middlesex TW15 1AB

Vision Now DECEMBER 2020

3

NEWS 1

In further recognition of the potential hardship caused by Covid-19 on lower earning registrants, the regulator has also agreed to permanently increase the qualifying threshold for the low-income fee from £12k to £16k. Instead of only allowing applications for a low-income fee at the point of registering or renewing, applications will now be accepted at any point.

Federation of Manufacturing Opticians

Speaking at its recent AGM, Federation of Manufacturing Opticians (FMO) chairman Stuart Burn said he was looking forward to a “reinvigorated and strengthened FMO from 2021”. During the virtual meeting, members were updated on the sale of Optrafair and subsequent collaboration with Media 10, and the sale of the FMO’s joint office base in London. Nathan Garnett of Media 10 gave a presentation on plans ahead of 100% Optical next May. Ann Blackmore gave an update on the post-Brexit rules for the Medical Devices Regulation coming into effect on 1 January 2021. Stuart then discussed new member benefits including a potential focus on gathering marketing intelligence and statistics, a national optical survey and a CET portal. He said: “We are steering the FMO into a new and exciting direction where membership for suppliers becomes more compelling as we seek to provide new benefits befitting of today’s commercial environment. This will go hand in hand with greater direct contact with ECPs to help educate, inform and promote our organsiation.”

4

De Rigo

General Optical Council

The General Optical Council (GOC) has agreed not to raise the annual registration fee for 2021-22 due to the uncertainty of the impact of Covid-19 on the economy and registrants. The fee for fully qualified registrants and businesses will remain at £360, and at £30 for students.

2

3

Vision Now DECEMBER 2020

Nina Ricci SNR251

The spring/summer 2021 Nina Ricci collection from De Rigo expresses the synergy between the brand’s heritage and the artistic direction of creative directors Lisi Herrebrugh and Rushemy Botter. The collection conveys ‘accessible luxury’ with bold and colourful shapes featuring chain and grosgrain embellishments and lightweight metals, at times enhanced by titanium details. The feminine styles reflect the fashion house’s previous eyewear and jewellery collections. Our photo shows one of the sunglass models featured in the current advertising campaign: a thick and multi-faceted acetate style available in full or transparent colours with Nina Ricci branding on the temples.

4

British Contact Lens Association

Help spectacle wearers eliminate the dreaded ‘fogging’ experience whilst wearing a face covering with support from the British Contact Lens Association’s new #StopTheSteam campaign. The organisation has created an infographic to encourage discussions around trying contact lenses as an addition to, or alternative, to specs.

“Wearing contact lenses can be an effective way of ‘stopping the steam’ and allowing you to work and live in comfort while staying safe during the Covid-19 outbreak,”

5

Hoya

Slowing childhood myopia progression

Coming soon to the UK and Ireland is Hoya’s new Miyosmart lens, shown to slow the progression of myopia in children on average by 60 per cent based on results

said Luke Stevens-Burt, BCLA chief executive.

Visit www.bcla.org to access the graphic.

from a two-year clinical trial published in the British Journal of Ophthalmology.

The lens features patent protected Defocus Incorporated Multiple Segments (DIMS) Technology, said to provide both sharp vision and a treatment effect to children.

Due to hundreds of small defocus islands, these lenses are designed to curb myopia progression by utilising myopic defocus. The unique structure of the lens allows it to be used in combination with any type of frame, appearing as a regular lens. After launching in several Asian markets, Canada and Australia, Hoya began rolling out the lens in Europe this year, starting in France where it won a 2020 Silmo d’Or Award in the vision category. It has not been approved for use to treat myopia in all countries, or the US.

Value is found in everything you love “Excellent comfort and fit that stays.”

“Excellent value, comfort and fit.”

“Lightweight. Fit well. Good value for money.”

STEPPER UK Customer Survey August 2020

Not only are STEPPER frames an exceptional fit for your customers, they are a great fit for your business too.

Our recent customer survey revealed just why STEPPER frames are so popular.

To find out how STEPPER can help your business contact us to arrange a consultation with one of our Business Development Managers.

Frame style shown: SI-60194

HELP MORE WE ARERS

DITCH D I S C O M FO RT THE LENS THAT FEELS LIKE NOTHING 1*

It’s time to start the comfort conversation.

When it comes to lens comfort, your patients may not be telling you everything. 2-4 In fact, up to ½ of patients experience lens discomfort. 2 By opening up a comfort conversation with your lens wearers, you can increase patient retention and help them ditch discomfort. Trial you patients with DAILIES TOTAL1® today.

9/ 1 0 WE A R ER S AG R EE T H AT DA I L I ES TOTA L1 ® C O N TACT L EN S ES A R E S O C O M F O R T A B L E T H E Y F E E L L I K E N O T H I N G 5,6*

References: * Percentage of wearers agreeing with the statement “With these lenses, I sometimes forget I have them on.” 1. Perez-Gomez I, Giles T. European survey of contact lens wearers and eye care professionals on satisfaction with a new water gradient daily disposable contact lens.

Clinical Optometry. 2014;6:17-23. 2. Nichols JJ, Wilcox MOP, Bron AJ, et al. TFOS International Workshop on Contact Lens Discomfort: Executive Summary. Invest Ophthalmol Vis Sci. 2013;54:TFOS7-TFOS13. 3. Dumbleton K, Woods CA, Jones LW, Fonn D. The impact of contemporary contact lenses on contact lens discontinuation. Eye & Contact Lens. 2013;39(1):93-99. 4. Alcon data on file, 2006.

5. Perez-Gomez I, Giles T. European survey of contact lens wearers and eye care professionals on satisfaction with a new water gradient disposable contact lens. Clin Optom. 2014;6:17-23. 6. Angelini TE, Nixon RM, Dunn AC, et al. Viscoelasticity and mesh-size at the surface of hydrogels characterized with microrheology. Invest Ophthalmol Vis Sci. 2013;54:E-abstract 500.

See instructions for use for complete wear, care, and safety information. © 2020 Alcon 09/20 IE-DT1-2000035

NEWS 6

CooperVision

As a partner of the recent BCLA UK conference, CooperVision shared its latest scientific papers and posters with delegates – including myopia management, consumer insights during Covid-19 times, silicone hydrogel one-day contact lens materials and more. “At a time when eyecare professionals are being inundated by new products and marketing claims, we want to ensure that sound science continues to be central to clinical decisions,” said Anna Sulley, director of global medical affairs for CooperVision.

During the event, the company also presented details of its new patient-facing resource called My Lens Life. Designed to increase new wearer success in the first three months of contact lens wear, it offers a range of printed and digital materials, emails and text messages throughout the three steps of a patient’s contact lens journey. A selection of scientific research papers and posters can be accessed on BCLA Digital.

7

Local Optical Committee Support Unit

8

British Contact Lens Association

Data shown during the recent virtual BCLA UK conference revealed that despite a 702,000 drop in appointments in the first half of 2020 due to lockdown restrictions, the UK only saw a three per cent fall in contact lens sales during the first lockdown.

Early reports also indicated year-on-year growth in July and August due to pent-up demand. This was thanks mainly due to the prevalence of subscription-based models, which allowed business to continue as close to normal as possible for many practices.

The data was shared during a session on contact lens retention, featuring talks by Professor Philip Morgan, Paul York and Zoe Bull. The latter speaker showcased a ‘Protect, rebuild and reignite’ roadmap to allow practices to ‘bounce back’, focusing on providing increased use of ‘out-of-practice’ services such as tele-medicine and remote care – citing that 71 per cent of patients said they were happy to be consulted via video calls. The BCLA is now planning its 2021 clinical conference and exhibition, to be held at the Manchester Central Convention

9

Majority of contact lens patients happy to have video consultations

Complex from 11-13 June. Visit www.bcla.org.uk for all updates.

Silhouette

Expanding primary eyecare

The Local Optical Committee Support Unit (LOCSU) is aiming to encourage more practitioners to get involved with their local optical committee (LOC) in a new social media #YourLOC campaign. Any practitioner can get involved regardless of their role, and LOCs are keen to hear from dispensing opticians, contact lens opticians and optometrists as well as practice owners.

Silhouette Lite Duet 5544 4510

Richard Whittington, LOCSU CEO, said: “With the opportunities presented by the National Outpatient Transformation Programme, there has never been a better time for practitioners to get involved in their local LOC committees to help expand primary eyecare services.

Broader involvement will really benefit the sector, and LOC committee roles provide interesting career development opportunities for practitioners,” he added. #YourLOC campaign materials are available on the LOCSU website.

Silhouette’s new Lite Duet collection draws on inspiration from the minimalistic aesthetics of the 1990s – an era that continues to influence fashion trends. Comprising of four new stylish shapes, two for women and two unisex, the collection features Silhouette’s signature lightweight style whilst showcasing four chic and retro designs. The collection also offers a wide range of bold, ultramodern hues and tones – from Digital Teal and Cyber Red to Soft Sloe and Golden Verde.

The Lite Duet collection is made from a combination of Silhouette’s high-tech materials: titanium and SPX+. The lens of each frame is outlined by an SPX ring, flowing into the retro-style temples, which are colour-coordinated to match the frames, for a sleek finish.

Model 5544 (pictured) is a full rim men’s pilot style with an on-trend double bridge.

Vision Now DECEMBER 2020

7

STOP THE FOG ANTI-FOG LENS CLOTH The cloth prevents lenses from fogging up by simply wiping lenses. It’s developed with exclusive anti-fog molecules. Widely used for eyewear lenses such as coated/hard resin lenses, goggles, swimming goggles and so on; also for camera lens, phone and face shield.

• Singular cloths • Pack 10 cloths • Pack 50 cloths • Cloth size 15 x 15 Jagged Edge Grey

For a sample please contact your Regional Accounts Manager

Unit 4, Bedwas Business Centre, Bedwas, Caerphilly CF83 8DU T: 02920 807 209 | F: 02920 860 580 | E: LenstecCC@lenstec.co.uk

www.lenstecopticalgroup.co.uk

MANUFACTURED IN ACCORDANCE WITH THE MEDICAL DEVICES DIRECTIVE

BS EN ISO 13485:2016

NEWS 10 International Eyewear

12 Essilor International

Dr Kate Gifford Eyestuff Geometric

The latest Eyestuff eyewear releases for children from International Eyewear include Eyestuff Geometric (pictured), a bold hexagonal unisex eye shape featuring creative ‘oil slick’ effect temple plating. Combining boldness with asymmetric lines and a geometric profile, the style has a futuristic appeal. Tapping into the metallic movement, this bold frame is available in Gold (C1) and Rose Gold (C2) with psychedelic hues for a retro throwback.

11

Association of British Dispensing Opticians

Following the latest General Optical Council (GOC) Education Strategic Review (ESR) consultation, the Association of British Dispensing Opticians (ABDO) has welcomed the GOC’s recognition that more detail about clinical knowledge and skills is required in the proposed outcomes for registration. However, ABDO is calling for a rethink on the timetable for finalising the proposals, and the proposed move to a single point of accountability for each route to registration.

ABDO has also welcomed that initial draft research from a Quality Assurance Agency recommended the entry-level qualification for dispensing opticians should be at Level 6 on the relevant qualification frameworks in England, Wales and Northern Ireland, and at the equivalent Level 10 in Scotland. “ABDO has long argued that the degree-level learning provided by its Level 6 Diploma in Ophthalmic Dispensing should continue to provide the benchmark for entry to the profession, particularly given the demand for dispensing opticians to expand their roles to help meet patients’ ever-expanding need for high-quality eyecare,” the Association stated. Read ABDO’s statement in full on DO Online.

Essilor International has announced a partnership with Australia-based myopia educational company, Myopia Profile, to develop specific educational content to increase primary eyecare practitioners’ knowledge and skills in prescribing spectacle lenses to young children; getting started in myopia management; clinical communication and understanding the latest research. Content will be housed on MyopiaProfile.com and shared across multiple platforms.

Myopia Profile, founded in 2016 by optometrist husband-and-wife Drs Paul Gifford and Kate Gifford, has grown from sharing Kate’s self-developed clinical paperbased tools to a comprehensive website, online learning academy, professional Facebook group and more. Its public awareness arm, MyKidsVision.org, includes a website, short survey on myopia risk factors, how-to video guides, and social media platforms for parents to learn about childhood myopia and how they can seek the best options for their children.

13 Continental Eyewear The Made in England Walter and Herbert collection has introduced three new styles: Bell, Cook and Simmons. In September 1946, two young entrepreneurs partnered to create Optoplast Manufacturing Company Limited. In the 40 years that followed, Walter Conway and Herbert Thorn enjoyed great success as they developed technology such as the PIMO machine, an innovation that would shape the way spectacles were manufactured worldwide. Today, James Conway and Daniel Thorn are continuing this legacy, creating their own collection of frames. Exclusively distributed in the UK by Continental Eyewear, the full collection can be viewed on the company’s website.

Model Cook in C3 Olive Dusk Vision Now DECEMBER 2020

9

HOME DELIVERY TO YOUR PATIENTS’ DOORS DON’T MISS OUT! Since April 2020, there has been strong growth in the number of patients set up on subscription and the number of practices registering with Bausch + Lomb Direct has more than tripled.

Manage your patients online and 24/7 with Bausch + Lomb Direct which offers the key features below with full customer service support.

Express Delivery: UK Next-Day when stocked items are ordered before 2pm patients receive their lenses and solutions next day, direct to their home or workplace

Exclusive Member Bundle Pricing Extra 5% Discount for NEG Members Bausch + Lomb ULTRA® + Biotrue® MPS 3 month bundle*

Building Patient Loyalty through a subscription model enables ease of patient management

Practice-branded Deliveries packaging printed with your practice name and logo

To register visit: https://bauschandlomb.adarodirect.com REGISTER NOW For more information: contact our Customer Service team: w 0845 602 2350

& cs.vc.uk@bausch.com

* Additional 5% discount off our lowest price tier for NEG members. ** Available until 20th December 2020. UK mainland and standard delivery only, including subscriptions. Subject to availability. ®/™ are trademarks of Bausch & Lomb Incorporated or its affiliates. ©2020 Bausch & Lomb Incorporated or its affiliates.

PORT.0016.IE.20

NEWS 14 Charmant Elle will celebrate its 75th anniversary in 2021, and its sunwear collection for the New Year borrows from a rich palette of fresh shades reimagined in high quality, on-trend looks.

Fiery reds, blushing pinks, intense and pale blues and greens as well as warm neutrals enliven round, cat-eye and geometric shapes.

Striking a line between simplicity and originality is the key to Elle’s distinctively Parisian look, and these latest frames intertwine 3D embellishments and striking lens gradients with classic profiles. Model EL14912 (pictured) is a soft cat-eye frame available in black or in transparent hues.

Parisian chic: EL14912

15 Essilor

16

Essential eyecare for the UK’s most vulnerable people has started again thanks to Vision Care for Homeless People (VCHP) supporters. Full PPE has been donated by Essilor and safety protocols established.

Financial backing from Stepper has enabled a London clinic to open with other clinics due to resume in Birmingham and Leeds.

Essilor has launched a Crizal Drive marketing campaign to promote the importance of roadworthy eyes. The promotion targets consumers through a mix of paid social media activity and digital display adverts in the national media, urging drivers to book an eye examination at their local optical practice. Point-of-sale materials are available and a ready-made social media calendar with digital assets will provide ideas for posts on night-time driving.

Tim Precious, Essilor managing director, said: “The initiative aims to raise awareness about good vision on the roads. The social media activity will help target younger drivers using the platform. This demographic is a high risk and unfortunately 30 per cent of road accident victims are under the age of 25. It’s

17 Heidelberg Engineering Heidelberg Engineering had been due celebrate its 30th anniversary on 30-31 October with a special edition of the annual International Imaging Symposium in Germany. Unable to proceed as planned, the 36-hour programme was delivered virtually to more than 2,000 participants. It featured 45 presentations by a faculty of 44 ophthalmologists and researchers in 14 different countries. Presentations went beyond the retina and glaucoma to embrace anterior segment and healthcare IT

Vision Care for Homeless People

Driving lens coating initiative

a sensible time of year for optical staff to recommend Crizal Drive anti-reflective coating to patients who drive. Thanks to the coating’s performance, reflections are up to 90 per cent less when driving at night.”

Peter Reeve, Stepper managing director, said: “More than ever, we are thinking about the things that really matter to us. While busy pursuing our commercial goals, it is also empowering to support an organisation that assists those whom we can help directly. As an international brand, we are keen to support relevant good causes wherever they may be around the world.” VCHP is looking for volunteers – particularly in Brighton. Email georgia.hannen@vchp.org.uk

topics too. A workshop channel featured training on image acquisition while a virtual exhibition booth enabled delegates to chat live and receive product demonstrations.

“The Virtual Imaging Symposium provides a template for how virtual events should be conducted for the benefit of both the participant and the industry partner,” said Emily Malbon, head of UK marketing and education, Heidelberg Engineering. “The Academy team organised and delivered the entire event in-house, without the assistance of a professional e-conferencing company, which was not the easy option but

Dr Stephan Schulz with Professor Adnan Tufail

gave them complete control to deliver the educational programme of their dreams.”

Visit www.he-academy.com for more educational opportunities.

Vision Now DECEMBER 2020

11

The SEED 1dayPure EDOF delivers continuous clear vision over a wide range of distances without compromise. Unlike multifocal lenses, the optics provide a constantly varying power profile, ensuring visual performance is not dependent on pupil size or lens centration.

Designed by the Brien Holden Vision Institute, SEED 1dayPure EDOF delivers excellent results for early/pre-presbyopia and visual stress. Available in powers from +5.00 to -12.00 DS, there are 3 different depth of focus types allowing you to cater for a wide range of patients.

A MEMBER OF THE SEED GROUP

www.seed-uk.com

0800 585 115

info@ultravision.co.uk

NEWS 18 Vision Aid Overseas Vision Aid Overseas (VAO) is hoping to raise £50,000 in its Christmas appeal this year, to help people living in poverty access affordable glasses and eyecare. The charity is asking the public, profession and industry to put themselves in the shoes of people such as Onanta, a secondary school student from Zambia who the charity has helped this year. When Onanta, who hopes to train as a nurse, began experiencing headaches and Helping people like Onanta struggling to read the blackboard at school receive the eyecare they need she was able to have her vision screened by a teacher who VAO trained. The teacher referred her to a visiting eye health team and she was provided with the glasses she needed.

Onanta said: “When I received my glasses, I was able to see clearly. I don’t experience the headaches anymore. This helps me not only to perform well in class, but also to prepare for my grade 12 final exams without difficulties.”

In the last year, VAO has screened 181,923 people for eye diseases, provided more than 15,000 people with a pair of glasses, and provided training to 330 professional health workers. To help the charity continue with this work, donate at www.visionaidoverseas.org

19 RNIB Hidden Disabilities Sunflower Scheme, the organisation behind the Sunflower Lanyard Scheme, has launched a new range of wearable items that it hopes will help people who struggle to social distance. The products, which include face coverings, badges, snoods and lanyards saying, ‘Please give me space’, were created by Hidden Disabilities in collaboration with the Royal National Institute of Blind People (RNIB) and the Cabinet Office.

AN INDEPENDENT VIEW Shaping the future of optometry The General Optical Council’s (GOC) Education Strategic Review seems to be taking an age, but perhaps that’s because it is not easy and there are a lot of different views on what the outcome should be.

For the AIO, some of the key issues are: that there must be no ‘dumbing down’ of the profession; that there must be a high level of consistency of newly qualified optometrists; and that optometrists should be able to move seamlessly from job to job and sector to sector.

It is also important that there is recognition that the range of clinical services that optometrists deliver is continuing to expand as the profession takes an ever greater role in providing primary eye health care.

We understand the arguments for encouraging more people into the profession and for moving to an ‘outcomes focused’ regime, but it is our view that we need to be careful not to abandon those aspects of the current regime that serve the profession well.

There is no need for an upheaval for the sake of it, and optometry could learn from the approach taken in other parts of the medical profession.

There is no need to reinvent wheels.

Sunflower Scheme expanded

Research by the RNIB found that 70 per cent of disabled people felt that it was difficult to social distance, with a small number reporting being confronted by other members of the public for being unable to keep a distance. More than 80 per cent felt that a social distance indicator would help others understand that they needed space and provide them with more confidence when in public areas. Businesses are being asked to adopt ‘Please give me space’ and use free staff training and campaign assets to increase recognition and understanding of the scheme. Find out more at pleasegivemespace.uk

The November Council meeting of the GOC came to the conclusion that the GOC’s Expert Advisory Groups (to which the AIO was refused membership) should ‘review and refine’ the proposals presented to it. In other words, there needs to be more recognition of the feedback to the consultation in the proposals being brought forward. This is a step in the right direction.

On a more positive note, the move from the current CET regime to a more ‘adult’ based CPD approach to professional development is very much welcomed.

20 College of Optometrists The College of Optometrists has appointed Dr Paramdeep Bilkhu as a clinical adviser following the departure of Dr Susan Blakeney, who fulfilled the role for 19 years. Paramdeep will join Daniel Hardiman-McCartney in the role, answering College members’ queries and providing clinical, professional and ethical support. Currently a research and teaching fellow at Aston University, Paramdeep is an independent prescriber and is keen to enhance the roles of optometrists in delivering clinical and therapeutic care.

Vision Now DECEMBER 2020

13

WIN an official Mercedes Umbrella*!

WIN a Carolina Herrera Perfume*!

WIN a British Afternoon Tea Hamper*!

WIN a Chopard Perfume*!

WIN a Furla Designer Purse*!

PRACTICE MATTERS

Developing thoughts What a year it’s been – but despite everything the future looks positive, writes Phil Mullins

Positive outlook for industry Often in my last Developing Thoughts article of the year, I look back over the previous 12 months and write an ‘end of term’ style review. This year, it’s hard to know where to begin. At the time of writing, there have been more than 1.4m deaths worldwide from Covid-19 – over 55,000 of them here in the UK. The pandemic is far from over, and there is more pain and suffering to come for families across the world.

Fortunately, no-one in my family or at NEG or Optinet have contracted this dreadful virus, and for that I am truly thankful. But with so many people affected, this year has shown that family, friends and health are everything – and we should never take them for granted. My real hope is that when we do start to return to some sort of normality, we remember this and continue to treat people just that little bit better.

Our working lives have been greatly affected by the pandemic. During the first lockdown, the entire world economy fell off a cliff. The UK GDP shrank by more than 20 per cent – with many businesses going to the wall with others struggling to keep afloat.

Fortunately, many UK independent optical practices were able to take advantage of government support packages. With GOS payments, emergency eyecare and monthly patient payments, many independents managed to remain in business. In fact, few of our colleagues have had to close for good. Nevertheless, just one independent closing is a sad day for the sector.

SEEDS OF RECOVERY Thankfully, the second quarter of 2020 following lockdown was a period of recovery with the economy growing by 15 per cent – a growth felt by practices across the country. Although it’s not the same for every practice, many NEG members have been reporting record weeks and full appointment books – albeit in reduced numbers. Patients who are being seen

This year has shown that family, friends and health are everything

appear to be in the mood to spend and treat themselves. We can’t say if that will continue into 2021, but this has certainly been a lifeline for many practices – who are now better equipped to take on whatever the new year brings.

We are currently too early into the second wave of Covid-19 to tell what impact it will have, but with practices able to remain open it shouldn’t have the same impact as the first. For this reason, our industry is positive about the future. Having spoken with both practice owners and suppliers, the general view is good – and everyone is looking to next year with many new projects and exciting products in the pipeline. This includes NEG. We have been planning for months new products, services and support for members ready for launch in 2021, so keep an eye out for updates in Vision Now and your inbox.

But what about your practice? What do you have planned for the year ahead? In my November article, I wrote about creating your own destiny; being different and making decisions that are best for your business. We know this year has upset the market, with more people buying online,

but news coming from Europe is showing that High Street business is picking up again.

Many people are now looking to spend locally, which is great news for independents and we need to engage with these new patients. This doesn’t mean that social media and websites are now the mainstay of practice promotional activity – but do throw out the boring stuff. Show how you are different, be that your dry eye clinic, specialist contact lenses, advanced eyecare, diabetic screening, sports vision, low vision aids, and so on. The list is potentially endless for independent practice – and that’s what makes it exciting.

So if you haven’t started already, sit down this weekend with a cuppa or a G&T and start writing your plan for 2021 and beyond.

Think about what you’re going to focus on, and how you’re going to get the message out to your current patients – as well as all those new patients now looking to buy local. I hope you have enjoyed reading Vision Now this year and thank you for your continuing support of NEG. We would all like to wish you and your families the very best for the festive season – and we look forward to working with you in 2021.

Vision Now DECEMBER 2020

15

* Capacity increase between 2018 and projected 2021.

Nothing is more important to us than delivering the highest standards of product quality and service to you and your patients.

That’s why we’ve invested significantly to bring our MyDay® product range back to the market – moving forward to be fitter, stronger and smarter than ever.

FITTER – An aggressive expansion plan delivered through unprecedented manufacturing investment.

STRONGER – Over 300% increase in capacity.* SMARTER – A flexible stock management process with dualsourcing to deliver uninterrupted supply.

MYDAY® – MOVING FORWARD TO BE BETTER THAN EVER FOR YOU AND YOUR PATIENTS.

PRODUCT PROFILE

Bringing back the 70s Classical model AH1424

Icon of style, Ana Lúcia Hickmann

The 70s are back with the autumn/winter 2020 Ana Hickmann eyewear collection Confirming the trend for supersize frames, for the autumn/winter 2020 season Ana Hickmann Eyewear has created an entire collection devoted to the super 70s. Rich with the squared retro shapes that dominated the catwalks ahead of the new season, the collection brings out all the glitter, shape and forms of the golden age of the 70s.

With a fresh combination of colours, combining opaque greens and reds with crystals, Ana Hickmann Eyewear surprises once again with its rich colour palette. The key design this season is a revival of oversized frames and sunglasses, with geometrical shapes full of 70s swagger updated for the modern age, that maintain the brand’s essence which is to reinvent classic shapes to create elegant and charming looks.

Examples from the new collection include model AH1424 – a feminine, elegant classic piece enriched with a round front shape in acetate with metal temples to add lightness and comfort. Our main photo shows the style in rich red, with other colour combinations available. Model AH1421 is a powerful retro nylor style, with a crystal detail on the edge of the temple conveying a sense of strength and femininity.

Model AH1417 is a new tubular Duo-Fashion style with a crystal detail on the tip. The new Duo-Fashion range features thinner and rounder temples and at the tip of the rotating part of the temple there are two golden rings immediately after the central one. The thin and elegant acetate rotation mechanism always complements the patterned design or solid colour of the temple.

WOMAN BEHIND THE BRAND Ana Lúcia Hickmann was born on 1 March 1981 in the south of Brazil. Her father was from Germany, from where her family name originates. Ana began her career in fashion at a young age as a model, working for prominent fashion labels such as Victoria’s Secret, Armani, Kenzo, Emanuel Ungaro, Yojhi Yamamoto, Thierry Mugler and many others. She has also graced the front covers of fashion magazines worldwide – from GQ and Vogue to Cosmopolitan and Marie Claire.

Duo-Fashion model AH1417

Once listed in the Guinness Book of World Records as ‘The model with the longest legs’ at 1.2m, Ana is now a famous TV host, successful businesswoman, mother and an ambassador for feminine power and entrepreneurship. In 2002, she launched her eponymous eyewear line in partnership with the Go Eyewear Group and has seen it become a top-selling brand of eyewear not only in Brazil but across Europe, Asia and the Americas.

Creating and developing eyewear for brands that are synonymous with quality craftsmanship, NEG preferred supplier Go Eyewear is committed to developing market trends and making every customer’s requirement a top priority. Its trusted team of professionals create their own blueprint for each brand making use of the latest design and manufacturing technologies.

With headquarters and logistics based between Portugal and Italy, Go Eyewear has branches across European and is present in more than 60 countries.

View all the collections at www.goeyeweargroup.com

Sunglass model AH9317

Classic model AH6422 Vision Now DECEMBER 2020

19

COMPANY & PRODUCT PROFILE

Innovation, expertise and service

Hans Sunassee writes on the evolution of one of the UK’s leading contact lens manufacturers and its expanded portfolio

The current UK headquarters of Menicon are located in Northampton, where we also manufacture and distribute our specialist lenses – a business built on decades of expertise. This location is also our distribution point for frequent replacement contact lenses, supplying eyecare practitioners the length and breadth of the UK.

Figure 1: Fitting the irregular cornea

Figure 2: Menicon supports topography image understanding

David Thomas Contact Lenses (DTCL) was a family run business for more than 40 years, founded in 1972 by David Thomas in an old silent film studio in Croydon. The company relocated to Northampton in 1976 so it could expand its manufacturing capability to include soft contact lens production. Due to increased demand, it became necessary to move again to larger premises in 1985.

to online retailers, has been key for a long time, and Menicon provides the tools to do just this. The Menicon package offers the support practitioners need going forwards. It is a six-stage programme, which can be fully adapted to practice needs. It can be delivered in-house or remotely, on an individual branch basis, an NEG group basis or at our Northampton educational facility.

toric, back toric, bi-toric, toric periphery lenses with the Ledaperm multifocal including toric forms. A custom (empirical) design service is also available to help practitioners achieve the correct fit and vision correction.

Having acquired a number of smaller specialty contact lens companies to expand the product range, and invested in new and improved manufacturing systems, by 1988 DTCL had rapidly become the go-to supplier of rigid gas permeable (RGP) contact lenses. In 2005, the company purchased Nova Contact Lenses – manufacturer of the Rose K contact lens. This brought DTCL into the orbit of those practitioners who were prescribing contact lenses for the irregular cornea. In 2009, DTCL was acquired by Menicon, becoming part of the Menicon Group of Companies. It was later renamed Menicon Ltd.

The six stages of the programme are as follows: • Stage One: Patient selection, patient education, patient journey • Stage Two: Taking and understanding topography (Figures 1 and 2) • Stage Three: Lens design, design limitations, Easyfit or/and software aids • Stage Four: Adjustments, toubleshooting, Menicon support • Stage Five: Payment options, lens ordering • Stage Six: Implementation into practice, front-of-house support, point-of-sale materials, etc

TOOLS FOR PATIENT RETENTION Celebrating its 70th anniversary next year, the Menicon Group was established in Japan in 1951 and is one of the largest contact lens manufacturers in the world, with a presence in more than 80 countries.

The company’s highest priority is eye health, using precision craftmanship to help people see life in wonderful detail. Menicon has always combined traditional values of quality, expertise and service with innovative contact lens designs.

Understanding contact lens options and how these can be utilised to help keep patients within your practice, rather than losing them

20

Vision Now DECEMBER 2020

STANDARD RGP CONTACT LENSES Ledaperm GP design The Ledaperm gas permeable (GP) contact lens is a blended multicurve design, which has been supplied in this form for many years and, as such, has become our most popular GP design ordered. Ledaperm lenses are available in a wide range of base curves, diameters and powers. The wide choice of parameters and materials allows the practitioner to select the best combination to meet their patients’ clinical requirements in GP lens wear.

Profile aspheric design The Profile aspheric design incorporates a spherical optic zone, an innovative and progressively flattening aspheric periphery, and a uniformed edge thickness design generated by advanced computerised lathes. The lens contour makes fitting easy and reduces chair time for the practitioner, whilst increasing lens comfort and wearing time for the patient.

The Profile aspheric design is available with various options, which can be manufactured in front toric, back toric, bi-toric and toric periphery lenses – with the Profile aspheric multifocal including toric forms. A custom (empirical) design service is also available to help practitioners achieve the correct fit and vision correction.

IRREGULAR CORNEA CONTACT LENSES Rose K2 design The Rose K2 keratoconus lens design is the most widely prescribed RGP keratoconus contact lens in the world. It has a multispherical posterior design with aberrationcontrol aspheric optics across the back and front optic zone diameters, and is available in any toric lens design.

Rose K2 NC design

The Ledaperm design is available in various options and can be manufactured in front

The Rose K2 NC (nipple cone) primary indication is for advanced and moderate

COMPANY & PRODUCT PROFILE nipple cones and for secondary applications for any defined nipple cone. The design characteristics concern a very small aspheric back optic zone diameter that decreases as the base curve steepens, and a very rapid peripheral flattening from the back optic zone.

central and tangential peripheral parts of the lens. The tear reservoir zone is located in the reverse curve which, together with the three fenestrations, allows optimum tear exchange.

The tangential curve allows adequate centration of the lens on the eye.

Rose K2 post graft design The Rose K2 lens is designed for postoperative recovery and for improvement in vision. It has a multi-spherical posterior design with some reverse-curve geometry and aberration-control aspheric optics across the back and front optic zone diameters (Figure 3).

Rose K2 IC design The Rose K2 IC (irregular cornea) lens design can be used for irregular corneas where other designs have failed. It has a larger overall diameter, utilises the same systematic fitting approach of the Rose K2 design, and has secondary applications for nipple and oval cones.

Rose K2 XL design This semi-scleral lens is used for keratoconus, pellucid marginal degeneration, post-surgical, and any irregular corneal condition that cannot be successfully treated by fitting a lens within the limbus. The Rose K2 XL follows the same simple, systematic five step fitting process that is advocated for the four other Rose K2 designs, and is extremely easy to fit, even for those who have not fitted a semi-scleral design before.

Figure 4: TimeXL scleral contact lens fitting

manufactured from hydrogel material. The primary indications for its use are for those with an intolerance to GP lenses; new contact-lens wearers with irregular corneas; early to moderate irregular corneas; conditions where the environment may be unsuitable for GP wear; or for activities where a GP lens may be unstable, such as sport.

Rose K2 Soft uses the same simple, proven five-step fitting method common to all Rose K designs. The design features an aspheric back optic zone, front surface toricity, and front surface aberration control for optimal visual acuity. Additionally, Rose K2 Soft offers precise edge-lift control, prism ballast stabilisation, and reverse geometry for a trouble-free fit.

The advantages of Menicon Z Night for patients include: • Safer and reversible alternative to refractive surgery • Freedom from visual correction during the day and the ability to enjoy excellent vision to undertake all sorts of activities • Minimised allergy and dry eye problems and no more dust particles • Safety of wearing Menicon Z night lenses with maximum corneal oxygenation (hyper Dk Menicon Z material) is assured • Right and left lenses provided in different colours to avoid mistakes For prescribers, Menicon Z contact lenses offer minimum investment in time and money, with no inconvenient trial set system.

Time XL design Rose K2 Soft design The Rose K2 Soft design is a daily wear soft lens for irregular corneas, available as a threemonth replacement lens when manufactured from silicone hydrogel material and as a sixmonth or 12-month replacement lens when

For the TimeXL design (Figure 4), two important innovations were combined for maximum comfort and optimum lens performance. More specifically, the periphery is produced linearly and torically (bitangential). The toric periphery of the lens can be precisely controlled in both flat and steep meridians, and the sclera is outlined for a simple fit and stability, which allows the cornea to be optimally bridged.

The toricity is limited to just the periphery of the lens; the back-surface geometry of the optical zone is spherical. If necessary, the front of the TimeXL’s optical zone can be fitted with a corrective cylinder

ORTHOKERATOLOGY CONTACT LENSES

Figure 3: Rose K2 simulation using EasyFit software

Menicon Z Night reverse geometry contact lenses are worn at night to flatten the cornea into a more spherical shape. Myopia and/or astigmatism is corrected after the first night with stable vision achieved within one week.

The base curve is responsible for flattening the central cornea and thus reducing myopia.

The reverse curve is the link between the

Figure 5: Multifocal lens fitting with EasyFit

EASYFIT SOFTWARE Menicon Z Night contact lenses are fitted with the help of a corneal topographer and Easyfit software (Figure 5). By inputting measurements of ocular refraction and corneal topography, the software automatically assesses whether the potential patient is suitable for orthokeratology treatment or RGP fitting.

The software will automatically calculate the most adequate lens to begin with.

Additionally, the software offers help in troubleshooting and improving lens fittings.

To discuss how the products mentioned in this article can support your independent practice business, contact Menicon on 01604 646 216 or email enquiries@menicon.co.uk Hans Sunassee is hospital business development manager in Mencion’s speciality contact lens division.

Vision Now DECEMBER 2020

21

DHS214-5

Hechter to go!

The new Daniel Hechter Eyewear collection

Order your package out of the new collection now and send your customers on a journey into the elegant world of Daniel Hechter.

As a thank-you you will receive an exclusive Bose Bluetooth speaker to take your favourite tunes with you

DHS219-5

wherever you go. This will surely make your day a hit!

DHS217-5

DHS223-6

A brand of the Michael Pachleitner Group

Andrew Davies F.B.D.O UK Country Manager, +44 (0) 7583 076 132 a.davies@michael-pachleitner-group.com

Michael Pachleitner Group GmbH Liebenauer Tangente 4, 8041 Graz, Austria Online shop: shop.michael-pachleitner-group.com

Red Bull SPECT Eyewear Our passion for consistently pushing innovative eyewear design and technology has lead us to the creation of the Red Bull SPECT Eyewear line. We optimized safety and performance to meet the highest demands of athletes worldwide. Eyewear focusing on the interaction of protection, comfort and grip. Frames made of resilient,

BOW-002P

tough and flexible TR90 Grilamid material, also known as “plastic titanium�. Exceedingly light but yet durable, maintaining its shape under all temperature conditions.

Polarized lenses give you the freedom to enjoy your life outdoors. Contrasts and colors appear more intense.

LEAP-003P

By moving a small slider on the temple a second hidden metall wire extense out and wraps around the ear.

Developed for high movement sports.

A brand of the Michael Pachleitner Group

Andrew Davies F.B.D.O UK Country Manager, +44 (0) 7583 076 132 a.davies@michael-pachleitner-group.com

Michael Pachleitner Group GmbH Liebenauer Tangente 4, 8041 Graz, Austria Online shop: shop.michael-pachleitner-group.com

PRODUCT PROFILE

What is ‘normal’ anyway?

[Normal; adjective: conforming to a standard; usual, typical, or expected]

Companies are increasingly embracing size diversity – and we should too, writes Jayne Smerald

I have always had a genuine love/hate relationship with the word ‘normal’ when used in the context of people and life.

Today, all of us are recognised as individuals with an almost unlimited variety of traits.

Old-fashioned measurements are rapidly being replaced with common sense.

‘Normal’ is the common benchmark by which we all have been traditionally judged. If you were not near it, you were different. Does it matter if you are 4ft 10 or 6ft 10 inches, 80lbs or 250lbs? It should not matter but, of course, it does and has done forever. But changes are in the air.

Who has not looked at the sales racks in M&S over the years and all that is there are sizes 12 or under and the occasional size 24?

What happened to all those size 16 to 18s?

All sold out. There lies the driving force behind the changes we are seeing today: financial pressure and recognition that companies are missing out on those sales.

SIZE DIVERSITY Market pressure has, and is, influencing all markets today to recognise size diversity and understanding changes that are happening to the world of size. It has been gradual but recently there seems to be a strong focus on size diversity for women.

There are more stores carrying dedicated collections for plus sizes as well as XL for men. There are numerous websites solely for the plus sizes, and the disposable income of these customers is substantial.

The apparel market has recognised that they have been losing out.

Advertising campaigns now are starting to reflect this by using size diverse models throughout their campaigns. It is almost as if someone has finally decided to bring this market out into the open, and recognise it as a substantial one not being catered for.

Vogue magazine recently featured younger plus size women in its advertising, celebrating larger sizes in a positive light.

Even television advertising is not focusing

24

Vision Now DECEMBER 2020

Customers come in all shapes and sizes

solely on models with perfect skin; perfect looks all wrapped up in a size six. Reality is the driving force behind these changes in all markets, and it seems they now recognise that the old ‘norm’ is not the ‘new norm’. Companies are embracing size diversity, as well as embracing diversity on many levels.

HOW IMPORTANT IS SIZE IN EYEWEAR? Based on both NHS and EC statistics, there are more women needing plus-size apparel than men – and the market is growing all over the world. Move that statistic into eyewear and it equates to one in six women who come into your practice who may need an extended fit frame. It is an exceptionally large number and up to now, no-one has created a dedicated collection that solely serves this market, focused on flattering shapes, styles, and colours. When it comes to style and trends, we women are more aware and influenced by them than most of our male counterparts.

What we learned from our research for our Big & Tall (B&T) Eyewear collection for men was the need for a modern, fashionable, flattering, extended fit women’s collection for all of us. The detailed knowledge we gained from our B&T Eyewear research, helped us understand the challenges of designing extended fit. It’s not just about

adding millimetres here and there. Our objective right from the start was that our collection should be feminine, flattering and give the wearer confidence.

We called our collection Made for You, because that’s how we wanted women to feel when they put on our frames: that they were ‘made for them’. We have used fabulous colours throughout the collection, with styles suited for casual to business wear. The collection features bold styling – driving this group of patients out of the fringes into mainstream, and mirroring the shift in apparel and High Street marketing.

B&T Eyewear has built up a strong customer base

PRODUCT PROFILE

Made for You model MYE107 in Grey Made for You model MYE106 in Berry

SHIFT IN THINKING The Covid-19 pandemic has made us all look hard at our eyewear collections – and I believe a shift and a rethink is going on in independent practices. Practitioners are asking suppliers: do you have what I want or what I need? That is a question for everyone. I am as guilty as anyone of designing to my personal tastes, but does that translate into the products that patients need? Size and fit diversity, be it plus to XL to petite, gives practices that unique edge that cannot be found in department stores.

The NHS and EC statistics speak for themselves and we needed to translate this into our collection. As many as one in six women need plus sizes. This is not age focused either, as it is across the board starting from teens to mature. Young people today are taller and broader than their parents or grandparents ever were.

This market need is here to stay. When understood, those needs must be reflected in all product offerings within practices.

ALL IN THE NAME B&T Eyewear has had a major impact on our company. As a ‘start-up’ collection, and in a short period of time, we have built a strong customer base for the range. This is purely down to patient needs coming from the

practices. The brand name is certainly a ‘signpost’ name that needing no explanation. It has proved that there is a market in eyewear where size, fit and style really matter to your patients.

We actively ask our B&T customers to give us feedback. The most important comment they have is that the patient is happy with the fit, and on a surprising number of occasions that translates to multiple purchases at the same dispensing time. Maybe that is from the moment of relief when they find something that both fits and looks good on.

Loyalty is a major benefit because a patient who can now get frames for their size is far more likely to return and stay loyal to the practice. Personal recommendation is always a major factor in gaining new patients coming into anyone’s practice. Positive experiences across the board cannot be underestimated.

Made for You, our plus size collection for women was launched in February 2020.

Even with lockdown around the corner in March, the momentum did not dissipate.

We have recently expanded our marketing of the collections through more focused mailshots and social media. The collection caters for young to mature patients, is ontrend and, most importantly, the fit had to be our focus. Colour is a major factor

through the collection of nine styles in three colours – and we will be launching six additional styles in the spring of next year.

As a strong advocate of size diversity, I have not ignored that all-important petite size need. This month, we launched a beautiful collection of six styles in three colours of Elizabeth Arden Petite Eyewear. The collection crosses over age ranges, so is not just for the mature market. Many of the colour mixes will work beautifully in the younger groups.

Mintel recently reported that the mature market will grow 40 per cent in the next five years. For obvious reasons of course we are all living longer, healthier, and fitter lifestyles.

SIZE DOES MATTER I hope I have made my case that product ranges within practices should reflect this shift in all markets and embrace size diversity; and offer bold, inclusive styling, supporting the premium patient care our independent practices are known for.

The word normal it is starting to be less of a driving force in our lives, and less of a dominant focus when buying product into practice. We look at the individual and make sure there are sizes within our collections that accommodate the non-typical patient. It is the definition of independent practice: to have products that are not found elsewhere.

Covid-19 has thrown our everyday ‘normal’ out of the window. How we run our businesses and interact with patients – in every way and in everything – has had to change. In less than one year, we have all had to adapt our current working lives with rules that seem to change on an ever-accelerating basis. We will get through it, maybe not without a few bruises, but we will get through it together.

View our full ranges at www.atlanticoptical.co.uk. Email us on info@atlanticoptical.co.uk or telephone the main office number on 02920 362136.

Elizabeth Arden Petite Eyewear model EAPT104 in Rose

Jayne Smerald is a director of Atlantic Optical UK. Vision Now DECEMBER 2020

25

BUSINESS AND FINANCE

Practice valuation insights Dominic Watson explains how to stay on the right side of the practice valuation equation in a surprisingly buoyant market

The optical practice sales market is extremely busy

As an independent optical business consultancy, the team at Myers La Roche work on projects for around 200 different independent practices annually. The practices we work for represent a wide cross-section of the UK and Irish markets, and their owners commission us from the full spectrum of stages in the business ownership journey.

These stages include: • Pre-acquisition evaluation on behalf of first-time buyers • Practice turnaround and business improvement programmes/business health checks • Practice valuations for a number of purposes • Structured exit planning to add value and map out the optimal exit route via our Exit 360 Pathfinder Service • Deal checking for parties who have been proactively approached by an acquirer Our consultants use a highly data driven, strategic approach to all projects and, as a result, we are privy to vast amounts of data and have a unique insight and a genuine ‘finger on the pulse’ of the independent sector. This approach allows us to both accurately compare the performance of one practice against another, and to measure and monitor overall industry trends across a wide variety of both key performance indicators (KPIs) and accounting/financial trends and ratios, as well as real market data on prices and deal terms achieved on the transfer of the numerous optical practices we facilitate.

This unique dataset allows us to identify – at a very early stage – new trends across the marketplace and to help operators understand which trends are significant and which are simply noise or attempts at

26

Vision Now DECEMBER 2020

very visibly wreaking destruction on our High Streets and large swathes of our economy. A downturn with a set of circumstances that have no clear end-point, and where the rules and approach from our leaders are changing regionally and nationally on an almost daily basis.

Amidst all this uncertainty and chaos it would – at least on face value – appear to be logical to assume that practice transfer values and deal terms are much worse now than they were pre-Covid. Yet, the reality is vividly and very positively different. The optical practice sales market is extremely busy right now, even in the face of national and regional lockdowns. We appear to be in the eye of a perfect storm and instead of the doom and gloom that one would expect, deal fever abounds.

We are in the middle of a deep recession

thought leadership from those with a vested interest. Our credentials and the authority of our data is widely acknowledged, and we are often called in to act as an ‘expert witness’ during legal proceedings for divorce, probate, partnership dispute and personal injury/loss of earnings cases.

This article will look at how current valuation models are very different to the old perceived norm and how, by understanding this, independent owners can avoid giving the crown jewels away by staying on the right side of the practice valuation equation in 2020 and beyond.

IN THE EYE OF THE STORM We are in the middle of a deep recession.

Not just any old recession, a pandemic driven recession. Something that uniquely impacts the way we live our lives and is

The reality for the current UK independent market is that practices typically change hands for between two and eight times earnings before interest, taxes, depreciation and amortisation (EBITDA). So what is going on?

Like any other market, the practice sales market requires motivated parties on both sides of the equation. On the selling side, the current main catalysts for sale are: • The perceived danger/risk to health or even life for older owners • The fear of the unknown and uncertainty: many owners are cashing in now, or hedging their bets with a part sale to take some money off the table • The discomfort and challenge of operating a practice in Covid-19 conditions, whilst the High Street around them crumbles • The herd instinct: “Everyone else seems to be selling up and getting out – or at least selling some equity – so maybe I should too whilst the going is good”

BUSINESS AND FINANCE purchasers will seek to tell you is the norm.

To help illustrate this, recent deals achieved

by Myers La Roche during the Covid-19 pandemic range from a little over two times EBITDA to as high as eight times. It is also important for an owner to understand that most of the deals Myers La Roche is currently agreeing are 100 per cent cash on completion – and not staged payments.

PROOF IS IN THE PUDDING

Covid-19 is a major catalyst for sales currently

On the buying side, the players come in different shapes and sizes. There are the large acquisitive groups, backed by external investors and awash with cash racing for market share and looking to capitalise on fear and uncertainty in the market. This has led to unprecedented levels of mergers and acquisitions, including joint venture offerings.

The latter is a hybrid solution, which for some may potentially be the best of both worlds – but only if the seller receives genuinely fair value at the deal stage.

Then there are the smaller players seeking to expand, or to purchase any local independent competition that may be available – primarily for defensive reasons (i.e. to keep the multiples (mentioned above) out of their patch.) There are also first-time buyers. The first time buyer market is more active than we have seen for well over a decade. We believe this is down to a combination of: declining locum demand and day rates in a socially distanced world; and the new ‘no money down’ business purchase methodology

pedalled by Jonathan Jay (and imitators) encouraging would-be buyers to bag themselves a ‘no risk, no money down bargain’ under the auspices of tax savings and other justifying rationale.

As a result of activity in all three market segments, practice owners are being contacted directly by buyers like never before. In the cold light of day, it should be pretty obvious that allowing a ‘would-be buyer’ to provide you with a ‘valuation’ and ‘exit planning advice’ is probably not going to be the most sensible course of action to get you the best outcome. However, many of the most proactive would-be acquirers are extremely sophisticated and persuasive in their dialogue and carefully crafted sales funnels.

Question: What is your optical practice worth right now?

Answer: There is no single hard and fast rule on this, but it is highly unlikely to be a three times EBITDA calculation that proactive

‘Saving’ yourself money by avoiding the use of a cutting edge, market leading broker suddenly does not hold quite the same appeal does it, if it is actually going to cost you a net balance of tens of thousands in the overall walk away deal terms? There is no secret sauce, but the proof is very much in the pudding.

Maximising the realisable sale value of your practice – in any scenario – is all about having sufficient knowledge and being in control of the conversation and the process; and in not allowing a prospective buyer to lead the negotiations. So how can you do this? Be sure to consult truly independent experts who are negotiating deals on behalf of clients day in, day out. Those who understand the true value of independent optical practices in your area, and who can create a competitive space for the marketing of your business, whilst respecting the need for utmost confidentiality.

In one very recent case study highlighted on our website www.myerslaroche.co.uk, we were able to achieve a deal value more than £90k higher than originally proposed, for a client who was approached directly by an acquirer and did not realise the true value of their enterprise. Needless to say, our client found engaging our services to be highly valuable with an irrefutable return on investment.

If you’d like to know more about the importance of understanding the true value of your business, please do get in touch on 0161 929 8389 or email dwatson@myerslaroche.co.uk

Be sure to consult truly independent experts

Dominic Watson has more than 20 years’ experience in the optical sector as a management and marketing consultant, business analyst and specialist business broker. His debut book, Retirement Planning, Rockstar Retirement Programme, was an Amazon bestseller in two categories and is now available as an audiobook narrated by the award-winning actor Michael Maloney.

Vision Now DECEMBER 2020

27

STYLE SPOTLIGHT

Luxurious concepts and sporting escapades

By Joan Grady In a village located in the canton of St Gallen, Switzerland, the inventive eyewear brand – Fassungswerk – creates elegant buffalo horn frames in their own atelier.

Designer Manuel Iten sources eco-friendly quality buffalo horn from India, then crafts contemporary shapes that are extremely lightweight and comfortable to wear. Ermine is the latest addition to the collection with elegant, natural colour intonations.

What does luxury mean to you? For each person, the idea of luxury has many perceptions and fantasies – embracing anything from breathtaking gondola rides in Venice to an adventurous African safari or a fabulous, memorable concert.

Rewarding ourselves is a beneficial and deserved luxury, such as a soothing massage or a culinary dining experience – or taking time to pursue a favourite diversion. Nowadays, the idea of luxury often relates to self-care, wellbeing and specific fun-filled opportunities.

Nordic elegance: Twilight by Falvin Eyewear

Tangible objects most often linked to luxury include watches, cars, art, jewellery and now increasingly eyewear. The luxury mindset is a medley of available tactile items, influenced by personal quests and individual satisfaction. With eyewear, designers who create frames of distinction include beautiful materials with impeccable craftsmanship and the finest, refined details. These heirloom qualities are the foundation for their craft.

GLAM AND SPARKLE Falvin Eyewear by Danish designer Birgitte Falvin interlaces her elegant new silhouette – Twilight – in slim titanium with precious shiny white gold plating. Wesselton VVS diamond settings by a leading Danish jeweller artfully shimmer on the temples.

Falvin fames are handmade in Japan, combining superior Japanese craftsmanship, with the edginess of Nordic architecture.

Birgitte instils her personal philosophy of

28

Vision Now DECEMBER 2020

beauty, luxury, maximum comfort and longlasting quality in each exquisite frame.

Line Art Charmant has launched a graceful, aesthetic collection entitled Menuet, which derives from a 17th century social dance.

Line Art was originally created with musical design language at the core of the lyrical frames that are a testament to elegance and lightness, as well as strength and flexibility. The square profile in XL2148 features connecting temple lines, with dual colourations and precious metal accents.

Swedish statement: Too Handsome

by Anna-Karin Karlsson

Allure, beauty and statement style pervade Anna-Karin Karlsson’s luxurious designs. The Swedish designer enjoys exploring contemporary and unique silhouettes, then adding graphic elements and unexpected details. Too Handsome, a limited edition, is crafted in Japanese titanium with acetate and then dipped in 24K gold.

Ermine buffalo horn by Fassungswerk

Silhouette’s rimless Elegance collection, designed by Sonia Setlenga, now includes new models for women called Light Facette. Three different shapes are available that complement facial features: a graceful almond silhouette, an elongated cat-eye and a striking butterfly style. The sophisticated colour combinations shimmer with Swarovski crystals, providing a glamorous finishing touch.

Line Art Charmant Menuet: style XL2148

Light Facette from Silhouette’s Elegance Collection

STYLE SPOTLIGHT SPORTING ESCAPADES Outdoor winter sports provide adventure: skiing with brisk, crisp air and spectacular mountain vistas as well as vast countryside landscapes while walking, biking or jogging. A key to those pleasures is warm clothes and protective eyewear – the latter playing a vital role in the fun and enjoyment of winter sports.

Dazzling colours: Orgreen’s Tamok goggles

allowing skiers to read snow irregularities on the slopes more accurately.

Alexis Pinturault, winner of 27 French World Cup victories in Bollé goggles (photo: Agence Zoom)

It’s 60 years since the French brand Bollé launched its stylish ski goggles, and the latest designs encompass advanced features including Phantom+ lenses. The photochromic technology provides 100 per cent UV protection for maximum eye safety.

Nevada Neo is a sleek goggle with a magnetic locked lens available in four vibrant colours that stays put even if the wearer is barrelling down the slopes.

Plant based frames with innovative concepts frequently highlight eyewear collections, as sustainability and preserving the planet takes on new urgency. Swedish brand Spektrum has launched an exciting new range of snow goggles – the Östra collection. Corn is the basis of Spektrum designs, with 64 per cent of the product produced with recyclable and plant based materials.

Behind the bold designs is the knowledge of snowboarders and ex-professional skiers, who possess first-hand experience about what is needed on the slopes for enhanced vision, superior clarity, comfort and safety. Östera designs are fashionably sleek and extremely lightweight. The White Line edition uses Zeiss Sonar lenses that provide a specific spectral curve in the lens,

Spektrum Östra White Line collection with Zeiss Sonar lens

The Arctic Circle and its glacial temperatures was the inspiration for Orgreen’s Tamok goggle, created to adapt to weather conditions that range from sunny to cloudy to ferocious. Tamok is constructed in TPU – thermoplastic polyurethane – a flexible material even in freezing temperatures, and the goggle has a thick yet very comfortable face foam that gives superb fit. Dazzling colours too.

Whatever the participant’s favourite sporting choice – on or off the slopes – the need for comfort, durability and fashion are imbued in every aspect of performance eyewear. Götti Switzerland has launched Dimension Active, utilising the high-tech material polyamide and three-dimensional construction. The streamlined design features an integrated ventilation system that enables optimum air circulation. The comfortable nose pads and temples ensure a secure fit with every movement. Dimension Active frames can also be mounted with corrective lenses – and with Götti’s patented Spin&Stow temples, the frame folds effortlessly to tuck safely into a glasses case or pocket.

If trail and running pursuits are your patient’s sporting preference, the Strack Cébé sunglasses feature Sensor photochromic lenses that provide anti-scratch and anti-fog treatment for additional protection and comfort. The styles are dashing in vibrant orange and black.

Cébé Strack sunglasses with photochromic Sensor lenses

Performance eyewear: Dimension Active

by Götti Switzerland

Even with these challenging times, strong possibilities exist for independent practices with luxury eyewear and outdoor sports.

Quality, unique creations with timeless style and high-tech performance have enduring appeal to patients who value and appreciate artisan approaches.

Sleek and practical: Read On by Sol Sol Ito Photo: Nina Maria Glahé

READ ON: A SMART SOLUTION Serendipity can often occur in the most unexpected way. A chance conversation led award-winning design duo Monika Fink and Sandra Kaufmann at Sol Sol Ito Eyewear to create Read On, a practical, functional and sleek idea for smartphone users and spectacle wearers.

How often has a misplaced smartphone and specs led to deep frustration?

Read On solves the problem with a slim design – collapsible glasses that tuck comfortably into a slender, ultralight attractive phone case. With winter holidays on the horizon, Read On is the perfect gift to always have your phone and glasses at hand, and a present to be enjoyed all year long.

Visit www.readon-mobile.com

Vision Now DECEMBER 2020

29

V

VV

Preferred Suppliers’ Directory

Preferred Suppliers are suppliers who, by prior arrangement, offer members of the PK National Eyecare Group preferential terms.

For full details and terms offered to the membership, please call 01580 713698 Directory listings are available free of charge to all preferred suppliers, with a larger listing available to Vision Now Advertisers.

To make changes to the directory listings, please call Sally Spicer on 01580 713698 or email s.spicer@nationaleyecare.co.uk

BONDEYE OPTICAL

DE RIGO UK LTD

Tel: 0121 7723888 Fax: 0808 2801865

Tel: 01923 249491

www.uk.alcon.com

sales@bondeyeoptical.co.uk www.bondeyeoptical.co.uk

ASSOCIATED OPTICAL

info.uk@derigo.com www.derigo.com www.my.derigo.com

HEIDELBERG ENGINEERING Tel: 01442 502 330 Fax: 01442 242 386 www.HeidelbergEngineering.co.uk

CENTROSTYLE

DUNELM OPTICAL

HENRY BEAUMONT

sales@assopt.co.uk www.associatedoptical.com

OPTICAL CENTRE SUPPLIES LTD Tel: 01923 239267 Fax: 01923 253951

Tel: 01388 420420 Fax: 01388 810101

Tel: 0116 251 8936 Fax: 0116 262 4205

dunelm@dunelmoptical.co.uk www.dunelmoptical.co.uk

info@henrybeaumont.com www.henrybeaumont.com

Tel: 01628 605433 Fax: 01628 665077

ATLANTIC OPTICAL UK LTD

sales@centrostyle.com www.centrostyle.com

Tel: 02920 362 136 Fax: 02920 362 137

CHARMANT UK CO LTD

info@atlanticoptical.co.uk www.atlanticoptical.co.uk

Tel: 020 8992 9222 Fax: 020 8896 0287

BARCLAYCARD

sales@charmant.co.uk www.charmant.co.uk

EYESPACE

HOYA LENS UK

CONTINENTAL EYEWEAR

Tel: 01527 870550 Fax: 01527 837012

Tel: 0845 330 0984 Fax: 0845 330 0977

Tel: 0151 426 3907 Fax: 0151 426 9340

info@eyespace-eyewear.co.uk www.eyespace-eyewear.co.uk

enquiries@hoya.co.uk orders@hoya.co.uk www.hoya.co.uk

Tel: 0800 056 5569

BAUSCH + LOMB Tel: 020 8781 2900 www.bausch.co.uk

sales@continental-eyewear.co.uk www.continental-eyewear.com

BIB OPHTHALMIC INSTRUMENTS

COOPERVISION

Tel: 01438 740823

Tel: 0870 9000 055

sales@bibonline.co.uk www.bibonline.co.uk

www.coopervision.co.uk

SO CLOSE YOU CAN ALMOST SEE IT

ESSILOR

HILCO EUROPE

Tel: 01454 281281 Fax: 01454 281282

Tel: 0800 591150

www.essilor.co.uk

GO EYEWEAR UK LTD Tel: 0800 9178270 www.goeyeweargroup.com

info@hilco.co.uk www.hilco.co.uk

INTERNATIONAL EYEWEAR LTD Tel: 0121 585 6565 Fax: 0121 585 0954 www.internationaleyewear.co.uk

A refreshing perspective To help you enhance your contact lens practice, CooperVision offers an extensive product range designed to meet the needs of even more of your patients.

For more information 0870 9000 055* www.coopervision.co.uk COMING SOON

©2020 Alcon Inc

30

Vision Now DECEMBER 2020

*Calls cost 2p per minute plus your phone company’s access charge.

T 01527 870550 eyespace-eyewear.co.uk

01580 713698

ALCON UK Tel: 0371 376 0017 Fax: 0871 351 1005

sales@lensteceyewear.co.uk www.lensteceyewear.co.uk

LENSTEC OPTICAL

MENICON UK LTD

(FORMERLY DAVID THOMAS) Tel: 01604 646216 Fax: 01604 790366 enquiries@menicon.co.uk www.menicon.co.uk

Tel: 02920 883009 Fax: 02920 889798

MICHAEL PACHLEITNER GROUP

LenstecCC@lenstec.co.uk www.lenstecopticalgroup.co.uk

Tel: 07583 076 132

LLOYDS BANK Tel: 07780 338656 franchising@lloydsbanking.com www.lloydsbank.com/business

LOUIS STONE OPTICAL LTD Tel: 029 2073 5293 Fax: 029 2073 1446 info@louisstone.co.uk www.louisstone.co.uk

LUNEAU TECHNOLOGY UK/IRELAND – VISIONIX Tel: 07383 555659

PRACTICE BUILDING

STEPPER UK

Tel: 0115 989 9772

Tel: 01732 375975

andy@practicebuilding.co.uk www.practicebuilding.co.uk

sales@stepper.co.uk www.steppereyewear.com

PRO-OPTIC

SUNWISE (TG SPORTS)

Tel: 01884 266130

Tel: 01865 714620

sales@pro-optic.com www.pro-optic.co.uk

info@tgsports.co.uk www.sunwise.co.uk

a.davies@michael-pachleitnergroup.com www.michaelpachleitnergroup.com

RAWDON OPTICAL

TANT LABORATORIES

Tel: 01132 883094 Fax: 01132 883095

Tel: 01279 653785 Fax: 01279 658308

MID-OPTIC

RawdonCC@rawdonoptical.co.uk www.lenstecopticalgroup.co.uk

TantCC@tantlabs.com www.lenstecopticalgroup.co.uk

RETAIL EXPERIENCE DESIGN (RED)

Tel: 01452 510321

Tel: 01332 295001 Fax: 01332 295158 orders@midoptic.com www.midoptic.com

Tel: 024 7601 0103

No7 CONTACT LENSES

dean@retailexperiencedesign.co.uk www.retailexperiencedesign.co.uk

Tel: 01424 850620 Fax: 01424 850650

RODENSTOCK

info@no7contactlenses.com www.no7contactlenses.com

OPTINET LTD

Tel: 01474 325555

SEIKO OPTICAL UK

Tel: 01686 627595 Fax: 01696 610015

LUXOTTICA (UK) LTD

sales@optinetuk.com www.optinetuk.com

Tel: 01452 610033 Fax: 01452 638250

www.luxottica.com

ORANGE EYEWEAR

MARCHON

Tel: 0161 773 5555 Fax: 0161 773 5544

orders@seiko-optical.co.uk info@seiko-optical.co.uk www.seiko-optical.co.uk

csuk@marchon.com

MARK’ENNOVY Tel: 0800 3280610 Fax: 0800 3280649 mkservices@markennovy.com www.markennovy.com

info@orange-eyewear.co.uk www.orange-eyewear.co.uk

PERFORMANCE FINANCE Tel: 01536 529696 Fax: 01536 310033 www.performancefinance.co.uk

POSITIVE IMPACT Tel: 08446 696907

THEA PHARMACEUTICALS Tel: 0845 521 1290 Fax: 01782 717 944 www.thea-pharmaceuticals.co.uk

Tel: 0845 313 0233

Tel: 0800 72 2020

sales@norville.co.uk www.norville.co.uk

sales@rodenstock.co.uk www.rodenstock.co.uk

infouk@luneautech.com www.luneautech.co.uk

Tel: 0808 165 8555

THE NORVILLE GROUP LTD

THREE SIXTY Kieran@calotherm.co.uk www.calotherm.co.uk

ULTRAVISION

SILHOUETTE UK LTD

Tel: 01525 381112 Fax: 01525 370091

Tel: 020 8987 8899 Fax: 020 8987 2430

info@ultravision.co.uk www.ultravision.co.uk

office@uk.silhouette.com www.silhouette.com

SPEC-CARE LTD Tel: 01392 460806 info@speccareservices.co.uk www.speccareservices.co.uk

sales@positiveimpact.co.uk www.positiveimpact.co.uk

WEBPOST Tel: 0800 074 2425 annie.mackervoy@webpost.com www.webpost.com

XACT Tel: 01698 574 655 IMcGleish@xact.uk.com www.xact.uk.com

www.nationaleyecare.co.uk

Suppliers’ directory

LENSTEC EYEWEAR Tel: 02920 857122 Fax: 02920 920480

Open your eyes to

V

VV

Love Your OCT. Guaranteed.

www.HeidelbergEngineering.com

Andrew Davies F.B.D.O UK Country Manager +44 (0) 7583 076 132 a.davies@michael-pachleitner-group.com

0845 3130233 sales@optinetuk.com

www.optinetuk.com

Vision Now DECEMBER 2020

31

Advanced Practice Management Software

Fashion’s always evolving So is our software Intuitive dashboards, intelligent reports and individual staff permissions.

Optinet FLEX keeps your business at the cutting edge.

For further information and to book your no obligation, in practice demonstration, please call 0845 3130233 or email sales@optinetuk.com

0845 3130233 sales@optinetuk.com www.optinetuk.com