Media Releases

October 15, 2002

Gimbel Group Completes Purchase of GVI’s Interest in Alberta Centres

CALGARY, ALBERTA – Further to a July 10, 2002 announcement, the Gimbel Group today announced that it has completed the purchase of the assets of Gimbel Vision International, Inc. (GVI) in the refractive eye surgery centres in Calgary and Edmonton. As part of the agreement GVI has changed its corporate name to Aris Canada Ltd. (Aris). The purchase follows the Gimbel Group’s decision to establish separate, independent operations from Aris in the area of refractive surgery and Dr. Gimbel's personal decision to focus primarily on his Alberta practice. The Alberta centres will continue to be fully operational and Dr. Gimbel and his associates will maintain full practices in these centres. They will continue to treat patients from Alberta, all parts of Canada, the United States, and many countries around the world.

Under the terms of the agreement, Aris will continue to operate refractive eye centres outside of Alberta. However, these centres will undergo a name change to further reflecting the autonomy of the two companies.

“Since Dr. Gimbel has always played an active role in providing medical and surgical services to the Alberta refractive centres and the Gimbel Group continues to own the Alberta cataract centres, this agreement will not change anything from the perspective of Gimbel Eye Centres’ patients, doctors, or staff,” affirmed Glenn Gimbel, spokesperson for the Gimbel Group.

The refractive (uninsured) and cataract (insured) practices of Gimbel Eye Centres in Calgary and Edmonton have always been separate and distinct from each other. Cataract surgery services provided by the centres are not impacted by this announcement.

Dr. Gimbel began his ophthalmological and surgical practice in Calgary in 1964. Dr. Gimbel’s associate, Dr. John van Westenbrugge, performed Canada’s first excimer laser surgery to correct nearsightedness in 1990 at Gimbel Eye Centre Calgary. The Gimbel Group is an affiliated group of privately owned companies owned by Dr. Gimbel and members of the Gimbel family.

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