| United Press International |
U.S. health insurance giant WellPoint Inc. said Monday it would by online contact lens seller 1-800 CONTACTS Inc. for an undisclosed sum.
"1-800 CONTACTS has rapidly expanded through exceptional brand recognition, convenient customer service and an industry-leading direct-to-consumer model," Angela Braly, WellPoint's chairwoman, president and chief executive officer, said in a statement.
"We believe these assets will drive continued strong future growth in the eyewear marketplace and also significantly enhance our efforts to build trusted relationships with consumers across the entire country," she said.
WellPoint said the purchase would alter its 2012 earnings projection, which it now expects will be $7.80 per share.
The Wall Street Journal reported the deal was worth $900 million.
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