Hey you were right. There was news today. Lets hope this slight uptrend continues. COHR is just too good a company to stay at this level much longer. Just look at the valuations on what are essentialy one trick pony laser companies and then look at the diversification and sales of COHR, and the low valuation is laughable. (Or at least I would be laughing if I weren't in it at 45:) But at any rate I'm in for the long haul. I almost always say that about my investments and invariably wind up selling short term but COHR is the one company I've made an exception on. I've had it for over a year and intend to hold much longer as I feel the upside is huge.
Monday December 1, 2:56 pm Eastern Time
Company Press Release
Coherent Announces Japan Approval for Innovative Laser Treatment for
Glaucoma
SANTA CLARA, Calif.--(BUSINESS WIRE)--Dec. 1, 1997--Coherent, Inc. (NASDAQ:COHR - news) announced that
Coherent Japan, Inc., has received market approval from the Japan Ministry of Health and Welfare for its Selecta(TM) 7000
laser system for Selective Laser Trabeculoplasty (SLT). This new technique to treat primary open-angle glaucoma is designed
to lower intraocular pressure without damaging the structure of the eye.
Glaucoma is the number one cause of blindness in the world today. It is a disease of excessive pressure in the eye. The
Selecta 7000 provides treatment for glaucoma patients without the side effects of drug use or the risks of more invasive
surgical procedures. The Japan approval is especially significant given the rapidly increasing percentage of the population aged
65 and over. In Japan, there are an estimated three million people with glaucoma and the market size for glaucoma lasers
could exceed $15 million over the next three years.
Commenting on the approval, Hiroshi Nakayama, President of Coherent Japan, Inc., asserted: ''The Selecta approval and the
results from our research sites overseas and in Japan validate the clinical efficacy of this unique treatment modality. Given the
side effects and limitations of drug therapies and the complications of surgical approaches, it is clear that selective laser
trabeculoplasty represents a significant advance in the treatment of glaucoma. Treatments with the Selecta are done in the
office and are quick and painless. This is truly an exciting approval for Japan, Coherent's largest ophthalmology market.''
Clinical trials suggest that this procedure can be used in patients who had been treated previously with argon laser
trabeculoplasty to provide additional lowering of intraocular pressure, because there is no coagulation damage to the
trabecular meshwork, and selective laser trabeculoplasty appears to successfully lower excessive pressure.
Another hope for the procedure, according to Dr. Mark Latina, inventor of the technique, is that selective laser
trabeculoplasty will be widely used to treat patients with newly diagnosed glaucoma or those in the early stages of the disease.
Coherent Japan, Inc. was established on Feb. 1, 1996, to sell and service Coherent medical lasers in Japan. Coherent Japan,
Inc. employs over 120 professional sales, service, and support staff in seven Japanese cities, our largest laser market outside
of the U.S.
''Safe Harbor'' Statement Under the Private Securities Litigation Reform Act
The statements in this press release that relate to future plans, events or performance are forward-looking statements that
involve risks and uncertainties, including risks associated with uncertainties related to contract cancellations, manufacturing
risks, competitive factors, uncertainties pertaining to customer orders, demand for products and services, development of
markets for the Company's products and services and other risks identified in the Company's SEC filings. Actual results,
events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of
any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events.
Founded in 1966, Coherent Inc. is a Standard and Poor's 600 global growth company and the world's leader in the design
and manufacturing of lasers and systems for medical, scientific and commercial applications. Coherent medical lasers are used
in virtually every surgical specialty, including ophthalmology, aesthetic cosmetic surgery, orthopedics, urology, gynecology,
sinus and general surgery.
The statements in this press release that relate to future plans, events or performance are forward-looking statements that
involve risks and uncertainties, including risks associated with uncertainties related to contract cancellations, manufacturing
risks, competitive factors, uncertainties pertaining to customer orders, demand for products and services, development of
markets for the Company's products and services and other risks identified in the Company's SEC filings. Actual results,
events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward looking
statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of
any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events.
Readers are encouraged to refer to the risk disclosures described in the Company's reports on Form 10-K, 10-Q and 8-K,
as applicable.
Coherent is recognized as a world leader in the design, manufacture and marketing of lasers and systems for medical,
scientific, OEM and micromachining applications. Please direct any questions to Robert J. Quillinan, Executive Vice President
and Chief Financial Officer at 408/764-4168. For more information about Coherent, visit our Web site at
cohr.com for product and financial updates. To receive a full text copy of this press release by fax, please call
800/758-5804, extension 182802. |
