Matthews joins IOG

The Independent Optometry Group (IOG) has welcomed Matthews Eyewear Eyecare into the fold, increasing its shareholding membership from 53 to 70 practices nationwide.

Formerly Visique, IOG is a not-for-profit cooperative, 100% owned by its shareholders. By joining IOG as a shareholder, Matthews significantly increases the group’s overall footprint, said Matthews’ director and co-owner Phil Matthews. “We believe New Zealanders should have a choice about eyecare. Aligning with IOG makes sense for us. By adding our collective weight to this group, we are strengthening independent optometry in New Zealand.”

Matthews joins IOG-phil-matthews-2.jpg — Matthews Eyewear Eyecare director Phil Matthews

IOG’s current board is chaired by chartered accountant and former Visique CEO Brian Rosenberg, who will step down in November, and includes well-known independent optometrists Jagrut Lallu, principal of Hamilton-based Rose Optometrists, and Brian Naylor from Palmerston North’s Naylor Palmer.

Representing the board, Lallu said, “First and foremost, it is about strengthening independent practices to compete and thrive in a dynamic market. Building and strengthening knowledge, camaraderie and clinical and business aspects, as well as cost benefits by default.”

Matthews joins IOG-jagrut-lallu-2.jpg — Jagrut Lallu, principal of Hamilton-based Rose Optometrists

Scale affords the opportunity to do more, said IOG chief executive Neil Human, by developing new tools and services and thus reducing costs for practices. “Or by being better placed to service corporate clients and agreements due to an increased footprint.”

IOG shareholders are free to choose their own suppliers, so Matthews’ close relationship with Zeiss for equipment and lenses will continue, said both parties. “There is no mandate or obligation to use the IOG’s strategic suppliers,” said Human. “There are, however, benefits that accrue due to the nature of our supply agreements that are advantageous to practices.”

There were still a number of suppliers in New Zealand that were particularly reliant on the country’s independent optometrists, he added, so it made sense to work more closely with them so they can grow together. “All markets are dynamic in nature and we continuously review our supply chain to ensure that practices have the products and services they need to meet the changing demands of consumers.”

Increased scale particularly benefits the group’s ability to develop systems and services that can save member practices time and money by increasing efficiencies, especially in the back office, said Human. “Practice owners are time poor and to survive and thrive means having to adapt rapidly to new technologies and ideas, but it takes a lot of time and resources to find what might work. The IO Group does much of that work for you.”