Eye Laser Industry - VISX and Summit BEAM Info Message Board

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Biotech / Medical : Eye Laser Industry - VISX and Summit BEAM Info

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To: AgAuUSA who wrote (53)	9/8/1996 11:19:00 PM
From: John Binford, Jr.	of 178

On the lawsuit against PPP from the Texas doctor, the thing about this suit is that he bought his laser from Summit in 1993 before approval. Summit promised that for $80K they would upgrade his $300,000 plus Homium laser (which was about $240K more than the going rate) to an excimer. Evidently, he was never fully informed that he would have to pay a PPP fee for every procedure. He must not have been very happy when Summit tried to put a key card counter on the machine. Anyway, this now has caused a lawsuit against PPP which has hurt Visx as well. Summit may yet get in trouble for pre-selling the excimer lasers. This is the reason they have 200 in the U.S. now. Most of these were pre-sold. Anyway, good luck on your Summit investment. It probably isn't too bad a purchase around $6. However, I much prefer Visx which should have excellent earnings for the forseeable future, as well as a decent management team. It will be interesting to see how the stocks respond this week. I believe they may be at the start of a big long uptrend.

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