AR,
Lcav is still forming is absorbing a lot of sales with no sign upward price trend reversal.
I am including a copy of the latest LCA-Vision news release. The news looks positive for the company.
Harry
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CINCINNATI--(BUSINESS WIRE)--January 6, 1998--
Impact Of Word-Of-Mouth, Media Exposure Felt As Patient Acceptance Of New Vision Correction Treatment Continues To Gain Momentum
LCA-Vision Inc. (NASDAQ:LCAV), the nation's largest operator of stand-alone laser eye surgery centers, today reported a total of 11,268 procedures were performed at its U.S. locations in 1997, or a 281 percent increase over the previous year. The firm's affiliated ophthalmologists performed 7,246 more eye surgeries in the U.S. to correct nearsightedness or astigmatism from January 1 through December 31, than they did in the previous 12-month period. Concurrently, LCA-Vision's U.S.-based centers also posted impressive year-to-year increases in "same store" patient volume, for the four quarters of 1997 compared to the previous year, registering gains of 337, 125, 104, and 74 percent, respectively. Commenting on the year's threefold-plus increase in procedure volume, LCA-Vision CEO Dr. Stephen Joffe said: "Our strong l997 totals clearly demonstrate that patient acceptance of laser vision correction is growing rapidly and consistently. The momentum is there, reflecting the impact of very positive word-of-mouth from thousands of enthusiastic patients and continued favorable media exposure for a unique vision correction treatment that is fast, safe, non-invasive, and effective." He noted that close to 98 percent of LCA-Vision patients have been restored to 20/40 or better vision after treatment, enabling them to discard eye glasses and contact lenses. Another factor contributing to the steadily growing acceptance of laser vision correction in 1997, according to Dr. Joffe, was a significant rise in the number of patients selecting LASIK treatment, an advanced, state-of-the-art laser technique which virtually eliminates post-operative discomfort.
Patients experience corrected vision almost immediately after the brief procedure is completed.
The preferred treatment for more severe cases of myopia or nearsightedness, LASIK currently represents over 40 percent of the laser vision correction performed at LCA-Vision centers. Dr. Joffe also pointed out that the potential patient population for laser eye surgery expanded again in April of l997 when the FDA approved the procedure for the treatment of astigmatism using the VISX laser. The FDA green light for treating farsightedness is also anticipated some time later this year. More than half the U.S. adult population, or as many as 150 million Americans, now require some kind of vision correction for either nearsightedness, astigmatism, or farsightedness.
In addition to its 27 U.S.-based facilities, LCA-Vision operates laser vision correction centers in Toronto and Ft. Erie, Canada and Helsinki, Finland. Well over 20,000 successful procedures have now been performed at LCA-Vision facilities with more than 600 affiliated physicians and some 800 referring optometrists. LCA-Vision also manages laser, and minimally invasive, multi-specialty programs for major hospitals across the country.
End of report
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