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Microcap & Penny Stocks : lcav
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To: yosid who wrote (816)5/27/1999 11:21:00 AM
From: W Shakespeare   of 942
 
I agree. It would take more than just a laser purchase to compete with one of the current providers. However, a VISX collapse would lead to a very small cost outlay to get started. There would initially be an influx of other providers and the price charged for eye surgery would become a competitive point on securing patients. The cutthroat pricing competition that would result would destroy the profitability of companies like LCAV. Remember, the current providers are given astronomical PE ratios because of the profitability of current procedures. Of course, this whole scenario depends on VISX losing patient protection and that is unlikely to occur for the next few years (because of their ability to appeal). I just think this is one risk that must be factored in to any investment decision (LVCI felt it necessary to include this risk in its prospectus for its secondary offering).
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