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Biotech / Medical : BEAM, BOL, KERA, LASE, LCAV, LVCI, LZRC, VISX, SNRS, STAA
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To: HerbVic who wrote ()2/24/2000 6:33:00 PM
From: HerbVic  Read Replies (1) of 253
 
I'm beginning to believe that Summit is becoming vulnerable to hostile takeover. The company's potential equity to be derived from their technological lead is HUGE. With strong money behind this company it could steam roll the LVC market. As it is, the company is going to nibble market share from VISX while VISX tries to club BEAM about the head and shoulders.

The announcement of further price cuts could doom Summit. VISX has a strong cash position from which to defend their turf. Summit does not. With the next quarterly report, if Summit is still gaining market share at VISX's expense, and they will, VISX's management team will be staring into the jaws of death. If they cut procedure prices again, Summit will have to also. Barring any unforeseen complications, the only outcome of that scenario is a hostile takeover. My guess is that the Summit team is looking for a technology partner right now. If the stock holders are fortunate, a deal could be struck with B&L or some other big player to give Summit some leverage.

If the stockholders are not so fortunate, the stock could get hit hard again before some holding company swoops to make a deal, spinning off the assets and dissolving the stock.

It could be a hard lesson. This equity package is bursting at the seams to be let out. If not released correctly and soon, it could blow up in our face like a time bomb.

The clock is ticking.

HerbVic
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