RANCHO CORDOVA, Calif.—VSP Vision Care recently filed with California’s Department of Managed Health Care for approval of a planned $700 million acquisition of “all of the outstanding stock of a vision care company,” unnamed in the filing.

In a note to a financial statement filed with the department for the period ended March 31, VSP said it had entered into a definite agreement on April 30 to acquire the unnamed company, with financing for the purchase to be funded “through a combination of available cash and debt which is in the process of being arranged.”

The California filing said VSP also would file with the Connecticut Department of Insurance, and that “the acquisition is pending and subject to receiving such approvals.”

VSP executives declined to comment on the California filing; a company spokesman said VSP “can't comment on a filing that is still pending.” The spokesman also would not identify the other firm involved.

VSP has been in a strong expansion mode since last fall, first making an equity investment in Perfect Optics in Vista, Calif., then acquiring Legends 4.0, located near Dallas. On June 5, VSP announced it had acquired Tri-City Optical in Clearwater, Fla., in partnership with Carl Zeiss Vision, as well.

Rob Lynch, VSP’s president and chief executive officer, has publicly stated that the company is considering other lab acquisitions, possibly in partnership with lens suppliers. In a related development, VSP launched a private label line of progressive lenses this week.

In an exclusive interview with Vision Monday last week in Seattle, Lynch was asked about additional VSP expansion plans and Lynch said, “Part of our strategy is to enter deep relationships with those suppliers that are supportive of independent eyecare practitioners.”