Lasik Vision Corporation |
Company Data | Introduction | Market | Management | News Update | Chinese |
| Address: | Suite 2000, 1500 West Georgia Street Vancouver, B.C.Canada V6G 2Z6 |
| Tel No.: | (604) 801-6429 |
| Fax No.: | (604) 801-6465 |
| Investor Relations Toll Free No.: | 1-877-801-4888 |
| Web Site: | www.lasik-vision.com |
| Email: | |
| Contact Person: | Stephen Smith |
| Position: | Director Investor Relations |
Company Data
| Traded Market: | CDNX |
| Traded Symbol: | LSK |
| Outstanding Shares: | 38,686,725 (At March 31, 2000) |
| Authorized Capital: | 100,000,000 |
| 52 Week High: | $4.85 |
| 52 Week Low: | $0.85 (July 2000) |
| Present Price: | $0.90 (11/8/2000) |
Based in Vancouver, B.C. Lasik Vision Corporation is Canada’s largest operating laser vision refractive company. 
Lasik Vision has already performed more than 120,000 procedures at its 30 centres in North America. Through its subsidiaries and affiliates, Lasik Vision has an additional centre
presently under construction in the United States. Lasik Vision centres offer vision correction procedures, including LASIK
(Laser-in-Situ-Keratomileusis) and PRK (Photo-Refractive Keratectomy) to correct nearsightedness, farsightedness and astigmatism with advanced excimer lasers and state-of-the-art topography and microkeratome equipment. With many of
the most experienced specialists in North America. Lasik Vision’s goal is to provide the best quality patient care and clinical outcomes at the most affordable price for patients.
Lasik Vision markets their laser refractive services directly to the consumer rather than using the industry’s traditional
co-management referral system. Lasik Vision offers consumers the most affordable price within the industry. The consumer response to Lasik Vision’s pricing strategy has
been overwhelmingly favourable. This is evidenced through the Company’s procedural growth quarter over quarter.
THE MARKET
Since 1995, the North American laser vision correction industry has growth at an annual rate of greater than 100%. Laser vision correction has generated a tremendous amount of interest over the past several years. Currently,
approximately 160 million people in the United States, or approximately fifty percent of the population, require some form of vision correction. Of these people, approximately 80%
wear prescription eyeglasses and approximately 20% wear contact lenses. Furthermore, approximately fifty-two million of these people are in an age bracket for which laser vision correction is an appropriate alternative to glasses and contact lenses. The market potential for laser correction is enormous.
LASIK
(Laser-in-situ-Keratmileusis) and PRK (Photo-refractive Keratectomy) are the most popular types of 
Laser Eye Surgery. Both of these procedures are designed to reduce a patient’s dependency on eyeglasses or contact lenses by reshaping the outer layers of the cornea to correct
common refractive disorders. Both of these procedures are performed on an outpatient basis and typically take ten to fifteen minutes to perform.
LASIK has the advantage of higher predictability, faster recovery and less potential for discomfort than
PRK. During LASIK surgery, an automated microsurgical instrument called a microkeratome is used to create a thin corneal flap, which remains hinged to the eye. The corneal flap is then laid back and the
excimer laser pulses are applied to the cornea to treat the eye with the patient’s prescription. Most LASIK patients resume their day-to-day activities twenty-four hours after surgery.
Board of Directors
Hugo F. Sutton, M.D.
Chairman, President & CEO
Since 1987, Dr. Sutton has been a Clinical Associate Professor of Ophthalmology at the University of British Columbia. He has run a thriving private practice specializing in cataract surgery since 1978 and refractive laser surgery since 1991.
Avi Wallerstein, M.D., F.R.C.S.C.
Director
Dr. Wallerstein has been the Medical Director of Lasik in Montreal since its opening and is currently on clinical faculty at McGill University and is the International Medical Director of
Lasik.
Philip Louie, C.A.
Director
Mr. Louie is a Chartered Accountant and the former Controller of
R.T.P. Services Ltd., a subsidiary of Rentokil Initial PLC. Mr. Louie was also formerly Vice-President, Financial Director of Lasik and a director of
Lasik.
John Porter
Director
Mr. Porter is Executive Chairman of Redbus
Interhouse, Chairman of the Telos Group, Cofounder and Director of the Grandvision group, the largest superoptical retailer in Europe, and director of Algol spa.
Murudin Ahmed, M.D.
Director
Dr. Ahmed is the owner and operator of Coquitlam Optometry Centre since 1988 and has been a consulting optometrist with Lasik Canada since 1997.
Executive Committee
The Executive Committee includes Jaime De
Sequera, Vice President, M.I.S. & Procurement, James Watson, Executive Vice President, Sales & Marketing, and Avi
Wallerstein, M.D., Executive Vice President Medical.
NEWS UPDATE
On August 2, 2000, Lasik Vision Corporation announced that they signed an agreement with TruVision and a major California health plan, Health Net, that will make laser vision correction more affordable and available to more than 2.0 million potential new patients in California. Lasik Vision will offer significant
savings for laser vision correction to members of Health Net in California.
TruVision, a provider of vision improvement discounts to health plans throughout the United States, will immediately start marketing Lasik Vision’s services to Health Net members.
On July 24, 2000, Lasik Vision announced that they signed an agreement with
TruVision, which will make laser vision correction more affordable and available to more than two million new patients in Los Angeles, California. Lasik Vision will offer significant savings for laser vision correction to members of Union
Members Discount Network (MDN), in Los Angeles, California. TruVision, a provider of vision improvement discounts to health plan organizations throughout the United States, will begin to market Lasik Vision’s services to UMDN members starting August 1, 2000.