Laser Vision Centers, Inc. signs agreement with New Image Laser Centres, Ltd. to take over U.K. excimer centers and purchase ancillary medical equipment and fixtures.ST. LOUIS--(BUSINESS WIRE)--April 18, 1996--Laser Vision Centers, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : LVCI) today announced it has signed an agreement with New Image Laser Centres, Ltd., a subsidiary of Summit Technology (NASDAQ: BEAM) to take over operations of two New Image Laser Centres located in Birmingham, England, and Edinburgh, Scotland. Laser Vision's European Subsidiary, LVC LVC Lebanon Valley College LVC Laser Vision Correction LVC Live Virtual Class (Sun Microsystems) LVC Levi's Vintage Clothing LVC Live Virtual Constructive (simulation space) LVC Low Voltage Cutoff (Europe) Limited will also purchase the fixtures and ancillary medical equipment at the two excimer laser A gas laser in which a very short electrical pulse excites a mixture containing a halogen such as fluorine and a rare gas such as argon or krypton. It produces a brief, intense pulse of ultraviolet light. centers. Additionally, LaserVision will take over New Image's patient base from its London excimer laser center as well as the Birmingham and Edinburgh Centers and combine it with three of its own U.K. centers. New Image closed its London center in March of this year. "The addition of these two centers is integral to our strategy of consolidating the market in the United Kingdom. We intend to merge these centers with two of our own which are located nearby. This consolidation has been made possible by the introduction of our MobilExcimer into the United Kingdom. By employing the MobilExcimer, we will be able to re-deploy several of our fixed excimer systems, two of which will be installed in the former New Image Centers" said John J. Klobnak, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Laser Vision Centers, Inc. Klobnak also said the Company was extremely pleased to have David Newlove, the former Managing Director of New Image Laser Centres join the Company as President of its European Subsidiary. "Mr. Newlove brings an unparalleled level of expertise in the European refractive surgery Refractive surgery A surgical procedure that corrects visual defects. Mentioned in: Photorefractive Keratectomy and Laser-Assisted In-Situ Keratomileusis refractive surgery market," Klobnak said. Newlove will oversee the Company's European consolidation and re-deployment strategies. Klobnak said this move further brings the U.K. into a more realistic position of excimer access. "It is no secret that the U.K. has had too many excimer lasers. This move and several other unrelated transactions should bring the number of lasers from more than fifty to less than forty," Klobnak commented. He added that the Company would also consider further mergers and acquisitions that fit into the Company's new operating model Operating Model is a term that is used in many contexts. In essence an operating model describes how an organization operates across both business and technology domains. The Operating Model describes what is important for the organization. in the United Kingdom and other parts of Europe. Laser Vision Centers, Inc. is the world's largest operator of excimer lasers with locations in the United States, Canada, the United Kingdom, Ireland, Sweden, Finland and Greece. The excimer laser is a device which allows eye surgeons to correct nearsightedness nearsightedness or myopia, defect of vision in which far objects appear blurred but near objects are seen clearly. Because the eyeball is too long or the refractive power of the eye's lens is too strong, the image is focused in front of the with an outpatient procedure which usually lasts less than one minute. CONTACT: Laser Vision Centers Inc., St. Louis John A. Stiles Stiles can refer to: People
Jeffrey Volk, 212/838-3777 http://www.laser-vision.com |
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