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: stock talk who wrote (62)	9/10/1996 11:10:00 PM
From: John Binford, Jr.	of 178

I don't see Visx buying out Summit. (1) What would Visx do with Summit's centers? Visx doesn't want to alienate their customers by competing with them. (2) What does Visx need with the APEX? (3) Why should Visx take on all of the liabilities of Summit? (4) What repercussions could be caused by an FBI investigation that revealed wrongdoing by Summit in their relationship with the FDA? Would the merged Visx/Beam be punished for Summit's past offenses? (5) The 44% PPP fee seems to be the main asset along with the remaining cash from Summit's secondary offering. I don't know what the contact lens mail order outfit is worth, which has sales of $20 to $30 million per year. It seems to me that Visx maybe interested in other companies with advanced lasers such as ATCI with its track assisted scanning laser. ATCI's total capitalization right now is only around $20 million. In either case it would be an easier deal to accomplish if Visx's shares were back around their high of $40. Then they could just grab up Summit or ATCI for stock.

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