Bankrupt LASIK Provider Approved for Private Sale to Competitor

Vision Group Holdings won bankruptcy court approval to sell its assets to one of its largest direct competitors for $35 million, overcoming challenges to its cancellation of an auction that raised alarms of possible antitrust violations.

The LASIK surgery provider, which filed for bankruptcy as LVI Intermediate Holdings Inc., has demonstrated that the offer from Kismet New Vision Holdings LLC is the “highest and best price,” Judge Karen B. Owens of the U.S. Bankruptcy Court for the District of Delaware said at a telephonic hearing Tuesday. The deal was made with “sound business judgment,” she said.

The objections from LVI’s ...