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Biotech / Medical : Summit Technology (BEAM)
BEAM 24.05-5.1%Dec 1 3:59 PM EST
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To: Manny Gugliuzza who wrote (800)3/27/1998 10:21:00 AM
From: lastbear  Read Replies (2) of 1386
 
Summit doesn't break out data for Lens Express. All I know is that they paid about $50 mio. for it 2 years ago and that it has the potential to be worth a lot more. According to CTAC's prospectus, Lens Express is larger than CTAC.
Here again my basic rationalization for buying Summit at 6 :
cash : $2
lcav : $.50
Lens Express: $2 (at valuation of about $64 mio)
equals : $4.5

That would mean that I pay $1.5, or less than $50 mio for the LVC business that generated about $22 mio in royalties last year and is growing at 50% pa.
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