Deals
WellPoint Agrees to Sell 1-800-Contacts to Thomas H. Lee
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WellPoint Inc. agreed to sell online contact-lens site 1-800-Contacts to private equity firm Thomas H. Lee Partners LP to focus on building its insurance business with the start of Obamacare’s expanded coverage.
Financial terms weren’t disclosed. The sale will result in a charge of 52 cents to 57 cents a share for the fourth quarter of 2013, Indianapolis-based WellPoint said yesterday in a statement. WellPoint also plans to sell Glasses.com, part of the contact-lens retail operation, to Luxottica Group SpA.