MetLife’s $1.675 Billion Acquisition of Versant Health

Willkie Farr & Gallagher represented Versant Health in the transaction. Sidley Austin LLP advised MetLife on the deal.

MetLife, Inc. (NYSE: MET) has entered into a definitive agreement to acquire managed vision care company Versant Health from an investor group led by Centerbridge Partners and including FFL Partners for approximately $1.675 billion in an all-cash transaction. Versant Health owns the well-established marketplace brands Davis Vision and Superior Vision.

Versant Health is a leading managed vision care company. Through its Davis Vision plans and Superior Vision plans, it provides vision and eye health solutions that range from routine vision benefits to medical management to customers including commercial groups, individuals, third parties, and health plans that serve government-sponsored programs.

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates, is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally.

The Willkie team representing Versant Health was led by partners Rosalind Kruse (Picture) and Howard Block and included partner Allison Tam, counsel Yevgeniy Markov, and associates Hugh McLaughlin and Christian Bonser.

Jon Kelly (Picture) and Kirk Lipsey (Insurance) are leading the Sidley team, drawn primarily from the firm’s New York, Chicago, and Washington, D.C. offices. The team also includes Vince Onorato, Jon Jeanlouis, Tiffany Kong, and Hannah Yi (Insurance); Stephanie Dobecki (Insurance Regulatory); David Zhao (M&A); Laura Barzilai, Rachel Kleinberg, and Nathan Enfield (Tax); Ben Rosemergy (Employee Benefits and Executive Compensation); Eric Hoffman (Labor and Employment); Karen Kazmerzak and Miriam Carroll (Antitrust/Competition); and Colleen Brown (Privacy and Cybersecurity).

Involved fees earner: Laura Barzilai – Sidley Austin LLP; Colleen Theresa Brown – Sidley Austin LLP; Miriam Carroll – Sidley Austin LLP; Stephanie Dobecki – Sidley Austin LLP; Nathan Enfield – Sidley Austin LLP; Eric Hoffman – Sidley Austin LLP; Jonathan Jeanlouis – Sidley Austin LLP; Karen Kazmerzak – Sidley Austin LLP; Jonathan Kelly – Sidley Austin LLP; Rachel Kleinberg – Sidley Austin LLP; Kirk Lipsey – Sidley Austin LLP; Vincent Onorato – Sidley Austin LLP; Benjamin Rosemergy – Sidley Austin LLP; Hannah Yi – Sidley Austin LLP; David Zhao – Sidley Austin LLP; Howard Block – Willkie Farr & Gallagher; Christian Bonser – Willkie Farr & Gallagher; Rosalind Fahey Kruse – Willkie Farr & Gallagher; Yevgeniy Markov – Willkie Farr & Gallagher; Hugh McLaughlin – Willkie Farr & Gallagher; Allison Tam – Willkie Farr & Gallagher;

Law Firms: Sidley Austin LLP; Willkie Farr & Gallagher;

Clients: MetLife Inc.; Versant Health;

Author: Ambrogio Visconti