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): July 8, 1996 (July 3, 1996)
LASERSIGHT INCORPORATED
Exact name of registrant as specified in its charter
Delaware
State or other jurisdiction of incorporation
0-19671 65-0273162
Commission File Number I.R.S. Employer Identification No.
12161 Lackland Road, St. Louis, Missouri 63146
Address of Principal Executive Offices
Registrant's telephone number, including area code: (314) 469-3220
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Item 5. Other Events.
The press release issued by LaserSight Incorporated dated July 8, 1996 is
incorporated by reference herein.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
Exhibit 99. Press Release dated July 8, 1996
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.
LaserSight Incorporated
Date: July 8, 1996 By: /s/ Gregory L. Wilson
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Gregory L. Wilson
Chief Financial Officer
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EXHIBIT 99
NASDAQ SYMBOL: LASE
LASERSIGHT ACQUIRES NEW JERSEY OPHTHALMIC PRACTICE
AND SURGERY CENTER
St. Louis, MO -- July 8, 1996..... LaserSight Incorporated (NASDAQ:LASE),
positioned to be a leader in total vision care services, announced today that on
July 3rd it completed the acquisition of the assets of the ophthalmic practice
founded by John Norris, M.D., known as the Northern New Jersey Eye Institute.
The institute is comprised of three ophthalmologists, two of which are trained
to perform photorefractive keratectomy (PRK), and an ambulatory surgery center.
The combined revenues of the practice and surgery center for 1995 were
approximately $4 million.
LaserSight acquired the practice's assets in exchange for 205,598 shares of
unregistered common stock and a $340,000 promissory note with interest at 5.05
percent, payable on or before September 13, 1996. Up to a maximum of 102,798
additional shares may be issuable in two years if LaserSight's stock price is
lower than $15.00 at that time. In addition, LaserSight entered into a 25-year
service agreement with the physicians to provide management, administrative, and
related services. LaserSight will receive a minimum management fee, after
practice expenses as defined in the agreement and guaranteed by the selling
physicians, of $1,257,000 during the first three years.
Michael R. Farris, president and chief executive officer of LaserSight, said,
"This alliance cannot be described as anything but a win/win affiliation. Dr.
Norris' medical background and understanding of the industry coupled with the
experience of MEC's management team and The Farris Group's physician practice
acquisition experience will prove to further enhance LaserSight's implementation
of its vision care strategy. Dr. Norris will work directly with LaserSight's
management to offer expertise in our network development and practice
acquisitions."
LaserSight Incorporated is a holding company with three operating subsidiaries:
LaserSight Technologies, Inc.; MEC Health Care, Inc.; and The Farris Group.
For additional information, please contact:
Marti Benfield, Investor Relations
(314) 469-3220
