Pioneer and Leader in Laser Vision Correction Celebrates More Than Half a Million Lives Transformed ... and Counting CINCINNATI, July 23
CINCINNATI, July 23 /PRNewswire-FirstCall/ -- LCA-Vision Inc. (Nasdaq:
LCAV), a leading provider of laser vision correction services under the
LasikPlus(R) brand, today announced that one million laser vision correction
procedures have been performed at its LasikPlus(R) vision centers. LCA-Vision
opened its first laser vision correction center in Cincinnati, Ohio shortly
after the Food and Drug Administration (FDA) approved the technology to
perform procedures in October 1995.
"We are excited to reach this key milestone of one million laser vision
correction procedures, which we attribute to our company-wide ability to stay
in step with evolving technology as we transform the lives of thousands of
patients," said LCA-Vision's Chief Executive Officer Steve Straus. "I would
like to thank our employees and surgeons for their hard work and dedication to
our company, and for their commitment to treating more than 500,000 patients.
For nearly 13 years, they have provided positive experiences and excellent
clinical outcomes that are the hallmark of the LasikPlus(R) brand."
The celebration procedure was performed by Dr. Eugene Smith at the
company's Galleria LasikPlus(R) vision center, located in suburban Atlanta,
Georgia. Representing LasikPlus(R) as the patient who received the one
millionth procedure is Jenny Conley, a Canton, Georgia resident who was
referred to LasikPlus(R) by friends and co-workers who also had their LASIK
procedures performed by Dr. Smith. Dr Smith performed the iLASIK(TM) procedure
on Conley. The iLASIK(TM) procedure uses the industry's most advanced
technology from Advanced Medical Optics (AMO) at every step - from Conley's
personal vision evaluation where Dr. Smith created an individualized 3-D map
of her eyes using WaveScan(TM) technology; to a precise flap using the
IntraLase(R) laser, and finishing with excimer laser vision correction using
VISX technology, all part of AMO's Advanced CustomVue(TM) procedure, one of
the most customized forms of laser vision correction available today.
"Laser refractive surgery has gone through an amazing evolution since the
technology was first developed in the 1980s. Ten years ago there were only two
laser refractive procedures available to consumers in the United States, PRK
(Photorefractive Keratectomy) and traditional LASIK (Laser in situ
Keratomileusis)," said Dr. Smith. "Over the years, as newer technology has won
FDA approval, laser vision correction has become available to a broader
segment of the population. Today, more people are potential candidates than
ever before. Advances in iris registration and pupil tracking technology as
well as FDA approval of hyperopia, wavefront and femtosecond treatments makes
laser vision correction a safe and effective option available to many more
people than in the past."
Since the FDA first approved the technology to perform the procedure in
the United States in 1995, LCA-Vision has been at the forefront of the laser
vision correction industry. In December 1995, the company opened one of the
first laser vision correction centers in the United States and performed some
of the first laser vision correction procedures shortly after FDA approval. In
July 1999, LCA-Vision introduced the "LasikPlus" brand name at its laser
vision correction center in Baltimore, Maryland. Shortly thereafter, in an
effort to build consumer awareness of its laser vision correction centers
across the United States, and to increase awareness of the benefits of the
procedure, the company began to rename all of its vision centers. Today, there
are 77 LasikPlus(R) vision centers serving 60 markets in 34 states. The
company's strategy for the future is to operate more than 120 LasikPlus(R)
vision centers located within the top 100 markets in the United States.
Forward-Looking Statements
This news release contains forward-looking statements based on current
expectations, forecasts and assumptions of LCA-Vision that are subject to
risks and uncertainties. These forward-looking statements in this release are
based on information available to us as of the date hereof. Actual results
could differ materially from those stated or implied in our forward-looking
statements due to risks and uncertainties associated with our business,
including, without limitation, those concerning economic, political and
sociological conditions; the acceptance rate of new technology, and our
ability to successfully implement new technology on a national basis; market
acceptance of our services; the successful execution of marketing strategies
to cost effectively drive patients to our vision centers, which recent results
would indicate are no longer as effective as they have been in prior periods;
competition in the laser vision correction industry; an inability to attract
new patients; the possibility of long-term side effects and adverse publicity
regarding laser vision correction; operational and management instability;
legal or regulatory action against us or others in the laser vision correction
industry; our ability to successfully open new vision centers, including our
ability to reach profitability targets for new vision centers within a
specified time period; the relatively high fixed cost structure of our
business; the continued availability of non-recourse third-party financing for
our patients on terms similar to what we have paid historically; and the
future value of revenues financed by us and our ability to collect on such
financings which will depend on a number of factors, including the consumer
credit environment and our ability to manage credit risk related to consumer
debt, bankruptcies and other credit trends. In addition, the FDA's advisory
board on ophthalmic devices is currently reviewing concerns about post-LASIK
quality of life matters and the advisory board may propose a major new study
on LASIK outcomes. The outcome of this review could potentially impact
negatively the acceptance of LASIK. For a further discussion of the factors
that may cause actual results to differ materially from current expectations,
please review our filings with the Securities and Exchange Commission,
including but not limited to our reports on Forms 10-K, 10-Q and 8-K. Except
to the extent required under the federal securities laws and the rules and
regulations promulgated by the Securities and Exchange Commission, we assume
no obligation to update the information included in this news release, whether
as a result of new information, future events or circumstances, or otherwise.
About LCA-Vision Inc./LasikPlus(R)
LCA-Vision Inc., a leading provider of laser vision correction services
under the LasikPlus(R) brand, operates 77 LasikPlus(R) fixed-site laser vision
correction centers in 34 states and 60 markets in the United States and a
joint venture in Canada. Additional company information is available at
www.lca-vision.com and www.lasikplus.com
Earning Trust Every Moment.
Transforming Lives Every Day.
For Additional Information
InvestorsMedia
Patricia ForsytheJules Abraham
V.P. Investor Relations Director, Healthcare Media Relations
LCA-Vision Inc. Lippert/Heilshorn & Associates, Inc.
513-792-5629 212-838-3777
pforsythe@lca.comjabraham@lhai.com
SOURCE LCA-Vision Inc.
