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Eye Care International Acquires LBI Brokerage, LLC.


TAMPA, Fla. -- Eye Care International (EYCI EYCI Eye Care International Inc (stock symbol) ) has completed the acquisition of LBI LBI Long Beach Island (New Jersey Shore)
LBI Leo Baeck Institute
LBI Limited Background Investigation
LBI Legally Binding Instrument
LBI Leveraged Buy In
LBI Long Baseline Interferometer
LBI Last Block Indicator
 Brokerage, LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
, a privately held Philadelphia-based company. The agreement between Eye Care International and LBI Brokerage's founding members includes the purchase of 100% of the member units of LBI Brokerage.

LBI Brokerage is a Managing General Agency (MGA (1) (Monochrome Graphics Adapter) A display adapter that employs Hercules Graphics, combining graphics and text on a monochrome monitor.

(2) (Matrox Graphics Accelerator) A trade name used by Matrox Graphics Inc.
) and General Agency for group health and group life insurance products. The company's distribution network includes General Agents, Third Party Administrators, and in some states, small and large group brokers.

LBI Brokerage's core business is derived from its appointment as an MGA by Transamerica's Worksite Marketing Division. The company distributes Transamerica's entire worksite product through General Agencies, Third Party Administrators and small and large group producers.

This portfolio includes Transamerica's new and innovative TransConnect(SM) and TransChoice(SM) product line, which allows employers the ability to dramatically reduce their health insurance costs while offering employees a solution to help pay their deductibles, co-pays and co-insurance. It also provides health benefits to the nation's uninsured employee population and is designed for those who are not offered, or simply cannot afford, major medical coverage including full time, part time and recently hired employees.

According to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 Clark A. Marcus, Eye Care International's Chief Executive Officer. "We are pleased about the closing of this transaction as it not only provides Eye Care International with substantially expanded distribution channels for its products, it also dramatically enhances our ability to distribute other products offered by companies we have either already acquired or with which we are currently in a closing cycle. All of these companies are lineal That which comes in a line, particularly a direct line, as from parent to child or grandparent to grandchild.


LINEAL. That which comes in a line. Lineal consanguinity is that which subsists between persons, one of whom is descended in a direct line from the other.
 to Eye Care International's business, creating greater market penetration and sophisticated back office and customer service capabilities.

"We are also delighted that executive management of LBI Brokerage, with aggregate experience in excess of over 54 years, has all agreed to remain with the Company assuring no interruption of business opportunities," Marcus concluded.

Neil Shapiro, a founding member of LBI Brokerage said, "Our unique niche in the group and individual health marketplace and extensive distribution channels dramatically enhances sales opportunities for Eye Care International's product and the various products of its subsidiaries.

Terms of the transaction included cash and stock.

Eye Care International, Inc. owns and operates the nation's largest discount Vision Network, with approximately 14,000 provider locations nationwide. It is the only national discount vision plan providing the services of Ophthalmologists (Eye M.D.s) who discount all of their services. Eye Care International's services include all cosmetic surgical procedures such as LASIK LASIK laser-assisted in-situ keratomileusis.

LA·SIK
n.
Eye surgery in which the surface of the cornea is reshaped using a laser, performed to correct certain refractive disorders such as myopia.
 vision correction and Co2 Laser Skin Resurfacing Skin Resurfacing Definition

Skin resurfacing employs a variety of techniques to change the surface texture and appearance of the skin. Common skin resurfacing techniques include chemical peels, dermabrasion, and laser resurfacing.
 at savings on both products and services ranging from 20% to 60%.

Visit www.ecivisionplan.com for information about Eye Care International and its Vision Plans.

This press release may contain forward-looking statements, which are made pursuant to the safe harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. Such forward-looking statements involve risk and uncertainties, including, but not limited to, the successful implementation of the Company's programs, availability of financing and results of financing efforts. Further information regarding these and other risks is described from time to time in filings with the SEC.
COPYRIGHT 2004 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jun 30, 2004
Words:518
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