January 09, 2017

Doctor-Friendly Subscription Service Promotes Increased Annual Supply Sales for Practices and Convenience for Wearers

PLEASANTON, Calif., January 9, 2017 — EyeCare Prime® announced today that LensFerry® S has expanded to include all modalities, bringing the convenience of automatic monthly payments and quarterly or semi-annual contact lens deliveries to a broader spectrum of patients while maintaining a central role for the eye care professional. The service was developed to help practices increase annual supply sales, and includes all major manufacturers’ contact lens brands.

When it launched in April, the first-of-its-kind subscription-based ordering service focused specifically on 1-day contact lenses. With today’s announcement, LensFerry® S includes monthly, two-week, and 1-day lenses from multiple manufacturers at eye care professionals’ specified prices. When patients enroll in the service, the annual cost of their contact lenses is divided into automatic monthly payments and they receive a three- or six-month supply of lenses, depending upon modality. The prescribing practice receives the sales revenue as if the lenses had been paid for in-office.

“The subscription industry has rapidly grown to generate $5 billion in revenue annually in the U.S. Consumers are utilizing subscriptions to buy everything from makeup to razors, diapers to laundry detergent, and dinners to movies,” said Mark Lindsey, Global General Manager, EyeCare Prime®. “We have partnered with eye care practices to take advantage of this growing business model by applying it to contact lenses with LensFerry® S, which enables them to retain more contact lens sales and offer contact lens wearers the convenience they have become accustomed to with other retailers.”

Unlike some other direct-to-consumer subscription models, LensFerry® S does not force patients to switch to different contact lenses by requiring them to request only one type of contact lens product. With LensFerry S, the eye care professional retains fitting and prescription control and flexibility for the benefit of the patients’ health and well-being.

Early adopters of LensFerry® S have reported up to a 20% increase in annual supply sales in their practices. And according to multiple practices, patients are expressing their satisfaction with the ease and simplicity of ordering their annual supply with convenient payment terms, all from their own eye doctor.

Even with this significant upgrade, opening the service to all modalities, pricing to practices will remain the same. This is meant to encourage widespread adoption with the intent of elevating patient convenience and service levels while retaining contact lens sales in the practice.

LensFerry® S is available to all eye care practices in the United States. It costs $49 per month, plus $2.50 per shipment. For every completed patient annual subscription through LensFerry® S, EyeCare Prime® makes a donation to Optometry Giving Sight for an eye exam.

EyeCare Prime®  is a subsidiary of CooperVision, Inc. For more information, visit LensFerry.com.

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About EyeCare Prime

EyeCare Prime is a leading global provider of marketing services created exclusively for eye care practitioners.  Our solution combines dedicated experts, strategy, cloud-based patient relationship management/commerce, and digital marketing expertise that enable eye care practices to maximize performance and achieve their vision.  EyeCare Prime is a subsidiary of CooperVision.  For more information, visit www.eyecareprime.com.

About CooperVision

CooperVision, a unit of The Cooper Companies, Inc. (NYSE:COO), is one of the world’s leading manufacturers of soft contact lenses. The Company produces a full array of monthly, two-week and daily disposable contact lenses, all featuring advanced materials and optics. CooperVision has a strong heritage of solving the toughest vision challenges such as astigmatism and presbyopia; and offers the most complete collection of spherical, toric and multifocal products available. Through a combination of innovative products and focused practitioner support, the company brings a refreshing perspective to the marketplace, creating real advantages for customers and wearers. For more information, visit www.coopervision.com.

About The Cooper Companies

The Cooper Companies, Inc. ("Cooper") is a global medical device company publicly traded on the NYSE (NYSE:COO). Cooper is dedicated to being A Quality of Life Company™ with a focus on delivering shareholder value. Cooper operates through two business units, CooperVision and CooperSurgical. CooperVision brings a refreshing perspective on vision care with a commitment to developing a wide range of high-quality products for contact lens wearers and providing focused practitioner support. CooperSurgical is committed to advancing the health of families with its diversified portfolio of products and services focusing on women’s health, fertility and diagnostics. Headquartered in Pleasanton, CA, Cooper has more than 10,000 employees with products sold in over 100 countries. For more information, please visit www.coopercos.com.

Media Contact

Heather Kowalczyk, APR

McDougall Communications for CooperVision, Inc.

heather@mcdougallpr.com or 585-330-4878