Vision Group

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Vision Group is a Canadian network of eye care providers offering surgical and non-surgical vision correction services. The company operates multiple brands, including LASIK MD, TLC Laser Eye Centres, and The Cataract Institute. Vision Group clinics provide both privately funded and publicly funded procedures in partnership with provincial health systems.

History

Vision Group traces its origins to the establishment of LASIK MD in 2001 by ophthalmologists Dr. Mark Cohen and Dr. Avi Wallerstein, who launched their first clinics in Montreal and Toronto to provide laser vision correction at a lower price point.

The company expanded rapidly during the early 2000s, opening locations across Canada and capturing a significant share of the laser vision correction market. In 2016, the Caisse de dépôt et placement du Québec (CDPQ) announced a $25-million investment in LASIK MD to support international expansion, including the acquisition of a minority interest in U.S.-based Vision Group Holdings.

In 2017, LASIK MD merged with TLC Laser Eye Centres, bringing multiple Canadian laser eye surgery brands under one corporate structure, which was renamed Vision Group. Since then, Vision Group has expanded its portfolio to include other refractive surgery providers, subspecialty ophthalmology clinics, and contracts for publicly funded cataract surgery in partnership with provincial health authorities.

Operations

Headquartered in Montreal, Quebec, Vision Group oversees a network of more than 70 clinics across Canada and the United States, staffed by over 100 surgeons and offering more than 100,000 procedures annually, including laser vision correction and cataract surgery.

Brands within the network include LASIK MD, TLC Laser Eye Centres, London Eye Centre, King LASIK, and Gimbel Eye Centre. These clinics offer a range of procedures, including LASIK, PRK, refractive lens exchange, cataract surgery, and subspecialty ophthalmic care for conditions such as glaucoma and retinal diseases.

In Quebec, Vision Group is among the largest private-sector providers contracted to perform publicly funded cataract surgeries. According to CBC News, its bids in Montreal-area tenders have been priced at under $600 per procedure – substantially lower than the public-sector cost of $1,573 and competing private bids ranging from $850 to over $1,000. The provincial government plans to outsource 185,000 cataract operations over five years, valued at a minimum of $115 million.

President Mark Cohen has stated that the company’s cost structure (including unused operating room capacity and bulk purchasing of intraocular lenses) allows it to offer lower prices while maintaining profitability. CBC reported that Vision Group performs more than 100,000 ophthalmic surgeries annually in Canada, compared to about 3,000 cataract procedures a year at a typical Quebec hospital.

Awards and Recognition

Vision Group and its founders have received multiple national and industry accolades. The company has been named one of Canada’s Best Managed Companies every year since 2007, achieving Platinum Club status in recognition of sustained excellence.

Co-founders Dr. Mark Cohen and Dr. Avi Wallerstein received the Ernst & Young Entrepreneur of the Year Award in the Professional/Financial Services category (2008), along with a National Citation in honour of Service Excellence. Cohen was also named one of Canada’s Top 40 Under 40 in 2008, and in 2024 was recognized as Québec’s EY Entrepreneur of the Year.

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