Profile

Company

Optometric Services Inc. is the Canada’s largest network of optometrists uniting more than 1 650 Optometrists in over 775 clinics across Canada. OSI is a privately owned, fully independent corporation with its member Optometrists as sole shareholders.

 

We are the only multi-service group in Canada for which 100% truly belongs to its members.

 

Profile
Mission
History
Board of Directors
Advantages

Profile

About Us

 

Optometric Services Inc. (OSI) is a diversified, multi-service company which offers many of the most important support services required by independent optometric clinics. It’s no surprise that OSI now represents more than 1 650 Optometrists working in 775 clinics across Canada. This represents an estimated 41% of the Canadian market.

 

A Shareholding plan exclusively for Optometrists

OSI is a privately owned, fully independent corporation with its member Optometrists as sole shareholders. We are the only multi-service group in Canada for which 100% truly belongs to its members. The fact that no single member or group of members can control more than 2% of the shares is a guarantee that OSI will continue to work for the interests of all its members and shareholders. Most other groups end-up being run by a single person or a very small group of individuals, which in many cases are not even Optometrists.

 

There are many advantages to being a shareholder. Each member receives a copy of our annual report, participates in our annual shareholders meeting, has the opportunity to elect our board directors and even be eligible to sit on the board. Members also participate in our subsidiaries’ annual net earnings either by the growth in the value of our shares or eventually via dividends.

 

Any optometry clinic, provided it holds and maintains an active member-client status, can take part in OSI’s shareholding plan and become one of its shareholders. The plan is totally optional and there is no penalty for non-shareholders. To be considered an active member-client of OSI, a clinic must meet all of the following requirements, which our board may change from time to time:

• The clinic has a valid service contract with OSI;
• The clinic purchases products and services according to the terms and conditions outlined in the service contract;
• The clinic has no outstanding amount due to the group.

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Mission

OSI's mandate is to contribure to and reinforce the Optometrists' professional status by providing the industry's lowest prices for merchandise and/or services. Furthermore, OSI aims to provide services and tools in order to assist with managing revenues and expenditures efficiency that are comparable or superior to those of their competitors. OSI always operates in accordance with provincial legislations.

 

Our Service Strategy and Core Competencies

OSI's service strategy is to provide specialized services to its member Opto,erty clinics. Most of these services would be too costly for even very large clinics to develop internally or outsource. These services become much more affordable within a group setting.

Some of the core competencies that OSI developed and continues to improve include:

We are also working on new projects that will allow new skills development in addition to the services we already provide to our clinics, such as B2B and Benchmarking.

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History

 

Brief historical account

• 1982
  Buying groups make their appearance in several industrial, commercial and professional sectors, including Optometry.
  
  All these groups were controlled by private interests and participating Optometrists felt that most of the benefits generated by the various programs offered in fact were not passed on to them. Moreover, many of the promotional programs adopted by these groups often went against the profession's code of ethics and the policies of the “Association des Optométristes du Quebec (AOQ)”.
  
  To counteract this situation, the “Association des Optométristes du Quebec (AOQ)”, then presided by Dr. Jean-M. Rodrigue, decided to create (through a subsidiary of which it would hold 100% of the Corporation’s share capital) a buying group controlled by Optometrists for the sole benefit of Optometrists. Its mandate: to further the cause of Independent Optometry, increasingly threatened by large optical chains. Its main feature: all benefits generated would be passed on to the participating Optometrist members.

 

• January 1983
  The AOQ's General Assembly authorizes Optometric Services Inc. to begin its operations. Service agreements for 204 clinics (285 Optometrists) are put into effect.
  
  The following months are devoted to establishing the service group's operating structure, negotiating agreements with approximately 20 suppliers and selecting a computer system for centralizing payments.

 

• September 1983
  OSI begins its operations and centralizes the payments/purchases of its 204 member clinics.
  
  The Optosys™ practice management software is launched, featuring the first version of the Patient Management and Inventory Control modules.
  
  From the beginning, OSI makes a name for itself and enjoys tremendous growth thanks to its administrative efficiency, which allows the group to pass on to its members not only all generated discounts but also part of the interest earned as well!

 

• 1984
  OSI extends its operations across Canada by signing 37 Optometrists in 20 clinics located outside of Quebec.

 

• 1989
  First publication of Optovision, a newsletter published by OSI for the benefit of its members.
  
  Creation of "The OSI Award for Excellence in Practice Management", presented yearly to a graduating student of the School of Optometry and Vision Science, University of Waterloo who has achieved a high academic standing, as well as demonstrated strong leadership in the areas of professionalism and communication skills.

 

• 1990
  OSI innovates with the introduction of two new ophthalmic purchasing programs: The Quantity Purchasing Program and the Frame Fair.

 

• 1991
  The OPTO-PLUS banner begins its operations. This OSI subsidiary enables Independent Optometrists to join forces and pool their professional and financial resources to develop large-scale advertising campaigns and leading edge marketing tools.
  
  The Quantity Purchasing Program becomes more diversified with the addition of new products, such as silicone nose pads, clip-ons, etc.

 

• 1992
  Two new purchasing formulas are introduced: The Immediate Delivery Quantity Purchasing Program and the Perpetual Inventory Quantity Purchasing Program.

 

• 1993
  The Frame Fair concept grows beyond frames to include a wider variety of ophthalmic products and its name is changed to Ophthalmic Fair.

 

• 1995
  OSI officially launches its own private label contact lens line for the exclusive use of its members: Mediflex™.

 

• 1996
  Privatization of OSI. OSI becomes a privately owned corporation, dissociated and independent from the “Association des Optométristes du Québec” (AOQ), with its Independent Optometrists members as sole shareholders and modifies its mission statement accordingly.
  
  OSI then explores new growth venues and proceeds with the development of collective action programs aimed at industrial vision, managed care and practice management/marketing training for the benefit of its members and shareholders.
  
  OSI launches its Optimum practice management and marketing training program in December 1996.

 

• 1997
  OSI increases the scope and range of its services considerably with the launch of the Optim-ACTION marketing/management services program, the creation of its own in-house advertising agency called Marketing Department, the implementation of a Marketing/CO-OP program and the development of its own Website.
  
  OSI also takes a new, streamlined, more eye-catching, modern and dynamic corporate image.

 

• 1998
  OSI makes a strong entry into the industrial vision market through the acquisition of Securo-Vision Inc., leader in Quebec.

 

• 1999
  OSI leaps ahead in the safety eyewear market by acquiring 100% of Protecto-Vision Inc. from the AOQ.
  
  OSI launches a new Website creation and hosting service in order to facilitate and promote the implementation of Internet technology in all its member-clinics.

 

• 2000
  OSI continues to develop new programs and launches Collection Horizon, the private and exclusive brand of progressive lenses, contact lenses, gas permeable lenses and frames.

 

• 2001
  Another first: the creation of a wholly-owned finance company. Opto-Finance Inc. allows OSI clinics to finance their equipment and computers at competitive rates and keep the financing benefits within the group.

 

• Today
  OSI is now a more diversified multi-service company that offers many of the most important support services needed by independent optometry clinics.  No surprise that it now represents more than 1 650 Optometrists working in approximately 775 clinics across Canada. This gives OSI an estimated 41% share of the Canadian market for independent Optometrists.

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Board of Directors

Incorporation
Federal charter (1982)

Board of Directors
Directors are elected annually by the shareholders

 

 

Dr. Paul Gray, O.D. Chairman

Dr. Carol Marois, O.D. Vice-President and President of the human resources and remuneration committee

Dr. Patrick Simard, O.D. Secretary-treasurer and President of the audit committee

Dr. Marc Bolduc, O.D. Director and President of the governance committee

Dr. Jean Frédérick Bouchard, O.D. Director and member of the audit committee

Dr. Yves Levesque, O.D. Director and member of the audit committee

Dr. Josée Martineau, O.D. Director and member of the governance committee

Dr. Paul Neumann, O.D. Director and member of the governance committee

Dr. Bruce Robinson, O.D. Director and member of the human resources and remuneration committee

Fiscal year
January 1^st to December 31^st

 

Shareholders
There are approximately 1 650 independent Optometrists who own one or more of the 775 clinics within OSI's network. Only Optometrists can be shareholders of the company.

 

Management

Marcel Brin	President and CEO
Yvan Brunelle	Finance Director
Jean-Claude Chaput	Mergers & Acquisitions of clinics & Succession planning Manager
Louis Côté	Administrative Director
Gordon Duross	Supplier Account Director
Jacques Lecavalier	Sales and Member Relations Director
Caroline Pauzé	Information Technology Director
Yves Desrosiers	Information Technology Development Manager

Advantages

 

 

• Thanks to expert negotiations with respected suppliers, we deliver the best savings on all ophthalmic and non-ophthalmic products and services that are related to the daily practice. Our members benefit from a 3-tier discount policy: Monthly discounts; biannual discounts and instant invoice discounts.
• No minimum purchase is required to be eligible for discounts.
• Choose among several different purchasing programs which correspond to each member's individual priorities through our Quantity and Volume Purchasing Programs.
• Access to the Mediflex® product line: OSI's private label brand of contact lenses for the exclusive use of its members.
• Access to the exclusive Collection Horizon product range, OSI's private label brand of contact lenses and frames for the exclusive use of its members.
• Access to 3 forms of marketing and practice management support: OSI’s Optimum continuing education program, OSI’s Marketing/CO-OP program and the Opto-Plus multi-banner program.
• Full clinical freedom and complete control over your inventory seeing as members deal directly with suppliers when placing their orders. We simply ensure that our members benefit from better prices and special offers vs. non-members.
• Notably lower administrative costs, accounting operations and significant savings in time as a result of centralized payments and summarized statements. All your detailed statements of account are sent to you along with a summarized statement. You will then discover how convenient it is to pay your purchases from various suppliers through a single monthly payment. You will also discover that simplification of payment procedures inevitably leads to higher billing accuracy.
• Higher operational efficiency resulting from the time saved in not having to meet the many sales representatives from various companies as OSI handles price negotiations with suppliers. Therefore, our members can put the emphasis on product selection and devote more time to their patients.
• Monthly statements showing total purchase amounts and applicable PST and GST charges in two separate columns, as well as information on your purchases by product category.
• Direct access to microcomputer technology, software and technical expertise at significantly reduced costs.
• Direct access to Internet technology at the lowest cost possible through the OSI internet, intranet, extranet and E-commerce services.
• Access to various financial services at preferential and/or discounted rates, such as: bank transfers, special banking privileges, electronic deposits, special group payroll plan, credit card and/or Interac® payment.
• Competitive equipment financing for ophthalmic instruments available through our subsidiary Opto Finance Inc.

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