Harry,
Thanks for the fine posts to this thread. If I had listened a little better earlier this year, perhaps I wouldn't have lost $5,000 on this company. I have been following this company closely for the past year and waiting for the right time to buy again.
For your information LCAV has recently announced reorganization of its board of directors. This is mostly related to the recently-completed acquisition of Summit Technology, Inc.'s laser vision correction subsidiary. The board no longer looks like a Joffe family reunion. Dr. Joffe however remains on the board as chairman, president, and chief executive officer. I believe that this is a good move and will lend additional credibility to the company. See press releases post at lca-vision.com.
Since the acquisition of Summit Technology's RCII Subsidiary was conditional upon the addition of $10 million in cash at the closing, LCAV should be well positioned for the next year. I see LCVI and LCAV as the two players to be dealt with in the service end of this business.
Of the two, I believe that LCAV is clearly the class act. If you were going to pay $4,500 for refractive surgery, would you rather have it done in an up-to-date facility or in a van parked in your doctor's driveway one afternoon and gone the next? As a healthcare professional, LVCI's moble eximer just rubs me the wrong way. I believe LVCI may have forgotten who their target market is.
At this point, I am staying away from the manufacturing end of the business for three reasons. First, technology is changing too fast. With scanning lasers and solid state laser just around the corner who is to say which manufacturer will be on top 5 years from now. Secondly, the current costs required to open new laser centers is high enough to limit direct competition in most markets. Finally, it is much easier to lease a different laser than to patent and get FDA approval for a new technology.
I believe this stock will make a lot of owners very happy. In my mind, the question is not if but when. From personal experience I have seen a marked increase in interest in refractive surgery this year. The main barrier at this point is cost. Can you imagine the growth rate if insurance started paying for the procedure.
For clarification, I have met Dr. Joffe several times, and have the upmost confidence in his ability to see this company through its growing pains.
Happy Trading, Cisco. |
