Opticare Health Systems, Inc. - OPT- Profile

OptiCare Health Systems, Inc.. The Group principal activity is to provide integrated eye care services. The Group operates in two segments: Consumer Vision and Managed vision. The Managed Vision segment contracts with insurers, employer groups, managed care plans and other third-party payers to manage claims payment and other administrative services of eye health benefits for contracting parties in 14 states. The Consumer Vision segment sells retail optical products, including corrective lenses, eyeglasses, frames, contact lenses, and other related optical products to consumers, as well as owns and/or operates integrated eye health centers, professional optometric practices, and surgical facilities in Connecticut. As of 31-Dec-2004, it operated 18 integrated eye health centers and professional optometric practices and 2 surgery centers. The Group customers are insurers, managed care plans, HMOs and other third-party payers. In 2004 the Group disposed CC Systems division. Consumer Vision accounted for 56% of 2004 gross revenues and Managed Vision, 44%