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To: StockHawk who wrote (8962)	10/27/1999 1:26:00 AM
From: RoseCampion	Read Replies (1) \| Respond to of 54805

Regarding VISX and its GG status - I posted the following analysis/op-ed piece to the Qualcomm thread back in mid-August (it really belonged here, but someone asked the question there...). I don't think anything substantial has changed in the vision marketplace since then (though I will be the first to admit that Kera and other non-laser vision correction procedures haven't exactly taken anyone or anything by storm yet) - Summary: I didn't see any simian genes here (especially if you look at the bigger picture outside the US), and potentially even the royalty status is severely in doubt: Message 11008130 Bausch & Lomb is expected to introduce their own laser soon, and their is some speculation that they may use their clout to try and get a reduction of the $250 royalty fee. There is even the remote possibility that they may try a Nidek-like move of simply not paying the royalty but that seems unlikely. Um, StockHawk, correct me if I'm wrong, but Bausch&Lomb's lasers come courtesy of their acquisition of Chiron last year, whose equipment (1) has extremely good market share (more than VISX's, IIRC) outside the US, (2) is widely respected (many consider it more advanced and safer than VISX's or Summit's; I know when I was researching having LASIK done about a year ago everyone seemed to think that trusting your eyes to a VISX over a Chiron Technolas 216 was "visual suicide"), and (3) never required payment to VISX any kind of royalties. So if B&L/Chiron comes out with a 'new' laser for the US market and/or doesn't pay VISX its $250/eye toll, I don't see that they'll be doing anything that their acquired subsidiary hadn't already done for a long time before. -Rose-

To: StockHawk who wrote (8962)	10/27/1999 8:32:00 AM
From: Peter Sherman	Read Replies (2) \| Respond to of 54805

FWIW - the real question on Lasik is two fold - 1 - why do ophthalmologists NOT have the procedure done - I have many patients and friends who are eye docs and NONE of them have it done on themselves - they all wear glasses -- 2 - the eye docs I talk to all say that the long term story with Lasik is not clear, and that as young people have it done to see the golf or tennis ball better, they are accelerating the later time in their life when they will have other eye problems that necessitate lenses - in other words, a short-term fix and a later on problem

To: StockHawk who wrote (8962)	10/27/1999 8:56:00 AM
From: Percival 917	Respond to of 54805

Hello StockHawk, Looks like you did all my work for me. Last night I was too tired to remember the name of Nidek. I was under the impression that Nidek and VISX were suing each other over the royalty/patent issue. Most of the MD's I know prefer Visix's laser over Summit's hands down. The issue I have with investing in Visix has been the royalty issue. It is keeping the cost of the procedure so high that most can not afford it and there are so many people out there whose quality of life would be so much improved if they could. I will give you an example: I have a patient whose Rx is RE -18.00 and LE -16.00 whose glasses are over an inch thick creating a distortion effect that allows her to see 20/100 at the very best. With contacts on her vision improves to 20/40 but do to their thickness cannot be worn for any real length of time. The cost of the Lasik procedure (as well as PRK) is $2400/eye and is out of their range. Meanwhile she is 19 years old and has been dealing with stigma of the very thick "Four Eyes" look and the teasing that sometimes goes with it. My wife had the procedure 1 1/2 years ago. Her vision was very close to the patient I described above. My wife also had a significant astigmatism that allowed her to wear only the hard gas permeable contacts and her eyes were beginning to reject them. After she had the procedure, she was so overwhelmed with the vision improvement that she broke down and started to cry. She also had grown up with the teasing. From an investor standpoint I think VISX is an excellent investment, although the Nidek and B&L competing lasers bear watching. I have moral/professional dilemma that will not allow me to invest in their product because I know way too many people who could be helped if the procedure were more affordable. So I have decided to invest in Q, GMST, JDSU, SEBL, ITWO, etc which are doing very well for me. Please do not get me wrong. I am NOT saying don't invest in VISX. I am saying it is not the right situation for me. One last note,I have a friend who is an Ophthalmologist in Canada and I will talk to him and see what the Laser situation is there as far as Visix vs Nidek or B&L. Joel