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Biotech / Medical : VISX -- Ignore unavailable to you. Want to Upgrade?

To: James Fink who wrote (558)	5/8/1998 9:29:00 AM
From: yosid	Respond to of 1754

Tell me if I am wrong! Visx will probably make money. Visx will make it more from royalties than the sale of lasers. In order for Visx to do well the laser vision centers must do lots of surgery. If the LVC's do lots of surgery, they will make money. If the LVC's don't do well, nobody will make money. Ergo - the hedge is to buy the laser vision centers.

To: James Fink who wrote (558)	5/8/1998 9:34:00 AM
From: Andrew Abrams	Read Replies (1) \| Respond to of 1754

Dont disagree with most of it, however, if the FTC does rule against them, it changes the entire picture. Royalty rates will change, and VISX could lose a good chunk of what they have been getting. That will cause a serious dislocation in the stock. Yes, the number of procedures is increasing rapidly, (we own the laser centers) but the ability of the 2 leaders to maintain their royalty base will change substantially. AA