SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
November 15, 1999
LCA-Vision Inc.
(Exact name of Registrant as specified in its Charter)
Delaware 0-27610 11-2882328
(State or other (Commission (IRS Employer
jurisdiction File No.) Identification Number)
of incorporation)
7840 Montgomery Road, Cincinnati, Ohio 45236
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (513)792-9292
N/A
(Former name or former address, if changed since last report)
Item 5. Other Events
LCA-Vision Inc. issued a press release announcing that its October
procedures are up 117% from September at new LasikPlus centers in
California
Item 7. Financial Statements and Exhibits
(a) Exhibits
99.1 Press Release dated November 15, 1999
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
LCA-VISION INC.
Date: November 15, 1999 By:/s/Larry P. Rapp
-----------------------------
Larry P. Rapp,
Chief Financial Officer
<PAGE>
COMPANY CONTACTS INVESTOR RELATIONS CONTACTS
LCA-Vision Inc. Lippert/Heilshorn & Associates, Inc.
Stephen N. Joffe, Chairman & Ruth Abeshaus ([email protected])
CEO (212) 838-3777
Larry Rapp, VP-Finance & CFO Bruce Voss ([email protected])
(513) 792-9292 (310) 575-4848
Media Contact
Elissa Grabowski ([email protected])
(212) 838-3777
FOR IMMEDIATE RELEASE
LCA-VISION ANNOUNCES OCTOBER PROCEDURES UP 117% FROM SEPTEMBER AT
NEW LASIKPLUS CENTERS IN CALIFORNIA
Triple-Digit Consecutive Monthly Growth Continues To Validate
"Value Priced" LasikPlus Model
CINCINNATI (November 15, 1999) - LCA-Vision Inc. (NASDAQ NM:
LCAV), a leading U.S.-based provider of laser vision correction
services, today announced that its new LasikPlus centers in
California experienced a 117% increase in procedure volume in
October, when compared with September volumes. The Company
attributed the triple-digit increase in California last month to
the conversion of all its West Coast centers to the new "value-
priced" LasikPlus format.
"Our 'value-priced' LasikPlus centers have lowered the
affordability bar, accelerated acceptance and opened our markets
to a far larger base of potential patients," stated Stephen N.
Joffe, chairman and chief executive officer of LCA-Vision. "The
impact of LasikPlus on revenues and procedure growth has been
dramatic, further validating our new 'value-priced' business
model. In California, for example, call volume and appointments
scheduled in October were 24 to 26 times higher than in September.
By offering LASIK at $2,995 for both eyes, we are delivering high
patient satisfaction and excellent clinical outcomes, all at about
40 percent below the customary $4,500-$5,000."
In the interest of sharing information on the progress of the
LasikPlus conversion, Mr. Joffe stated, "We will issue periodic
updates on procedure growth and acceptance levels in various key
markets." He continued, " The important thing for investors to
grasp is that our margins have not been hurt by our competitive
pricing. Our new model gives our patient's access to some of the
nation's finest Lasik surgeons, while changing the economics of
providing Lasik for the benefit of both the patient and LCA-
Vision. From a cost and organizational standpoint, LasikPlus is
far more efficient and easier to manage."
As LCA-Vision rolls out additional LasikPlus centers, overall
marketing and advertising expenses will increase, reflecting the
costs associated with the introduction of LasikPlus in each new
market. The Company does expect these expenditures to wind down
as brand recognition grows and word of mouth kicks in. "Our
market research indicates that positive word of mouth is among the
most influential factors in persuading potential patients that
LASIK is right for them," continued Mr. Joffe. "Among those who
know someone who has had a positive experience with laser vision
correction, they are three times more likely to have their
procedure performed by the same doctor or center."
LCA-Vision owns and operates 22 centers and plans to convert
additional centers and open new before year-end. LCA-Vision's
laser vision correction centers in the U.S., Canada, and Europe
are supported by a network of over 2,200 ophthalmologists and
optometrists. More than 60 million Americans who wear eyeglasses
or contact lenses are currently eligible for laser vision
correction.
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.
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