LCA-Vision Centers Begin Laser Treatment to Correct Farsightedness; First in Ohio Providing Procedure Following FDA Approval Nov. 3
Business Wire - November 19, 1998 12:57
CINCINNATI--(BUSINESS WIRE)--Nov. 19, 1998--LCA-Vision Inc (NASDAQ:LCAV), one of the nation's largest providers of laser vision correction, said today it has begun performing laser surgery to treat hyperopia, or farsightedness.
The company's Dayton and Cincinnati facilities will be the sites of the initial procedures today and tomorrow -- the first performed on farsighted patients in Ohio outside of clinical FDA trials.
On November 3, following several years of clinical investigation. the FDA formally approved the use of the VISX Star excimer laser as "safe and effective" to correct hyperopia. The regulatory agency's green light is expected to add more than 50 million hyperoptic adult Americans to the pool of potential candidates for laser vision correction, according to industry sources.
Commenting on the start-up of hyperopia treatment, Dr. Stephen Joffe: "This is a genuine milestone. Since all of our centers are equipped with VISX lasers, a growing backlog of farsighted patients, eager for the procedure, plus a staff of well-trained and credentialed physicians enabled us to get off to a quick start tapping into this major market. We see hyperopia as a very important segment of our future patient volume."
Dr. Joffe added that the big impact of hyperopia approval will probably begin to be felt in 1999 as awareness of the procedure's availability rapidly spreads.
LCA-Vision centers are now correcting all three refractive disorders: myopia, hyperopia, and astigmatism. Procedure volume at the 21 facilities has been growing at triple-digit annual rates since 1996. Through the first nine months of 1998, a record 16,280 procedures were performed at all LCA-Vision centers versus 6,412 for the first nine months of 1997 -- and that accelerated growth has been continuing in the first half of the 1998 fourth quarter.
LCA-Vision Inc. operates 21 laser vision correction centers in the U.S., Canada and Europe. Since inception, more than 38,000 laser vision correction procedures have been performed at the company's centers. LCA-Vision also manages laser, and minimally invasive, hospital surgical programs.
Safe Harbor Statement: This release contains forward-looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competition and pricing, procedure demand and marketplace acceptance, and unforeseen fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
CONTACT: LCA-Vision Inc.
Dr. Stephen Joffe, CEO, 513/792-9292
or
The Dilenschneider Group
Ken DiPaola or Joel Pomerantz, 212/922-0900
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