Summit Autonomous to Introduce New Products; Company Announces Program for Shareholders and ASCRS Meetings.Business/Technology Editors & Health/Medical Writers WALTHAM, Mass.--(BW HealthWire)--May 16, 2000 Summit Technology, 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 : BEAM) announced today that the Company will introduce two new products at its upcoming Annual Shareholders Meeting and during the American Society of Cataract and Refractive Surgery conference. Robert J. Palmisano, Chief Executive Officer of Summit Autonomous and members of the Summit Autonomous management team will unveil the LADARVision(TM) 4000 laser system and the freestanding CustomCornea(TM) Wavefront Noun 1. wavefront - (physics) an imaginary surface joining all points in space that are reached at the same instant by a wave propagating through a medium wave front System (WS) for shareholders, customers and Summit Autonomous employees on Friday, May 19, 2000 during the Company's annual meeting at the Seaport Hotel in Boston, Massachusetts beginning at 10:00 AM. These new products will also be on display in the Summit Autonomous booth #2516 at the ASCRS ASCRS American Society of Cataract and Refractive Surgery ASCRS American Society of Colon and Rectal Surgeons conference beginning at 6:00 PM, Friday, May 19, 2000. The ASCRS meeting will be held from May 19 through May 24 at the Hynes Convention Center The John B. Hynes Veterans Memorial Convention Center located in Boston's Back Bay has 193,000 square feet (0 m) of exhibit space and can accommodate up to four concurrent events. in Boston. In addition to introducing the Company's new products at the Annual Meeting, presentations will be given by Marguerite McDonald, MD and Ronald R. Krueger, MD. Dr. McDonald will provide an update on the clinical trials currently underway for the CustomCornea WS. Dr. Krueger will discuss the features and benefits of the LADARTracker(TM), the only FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approved laser eye tracker, providing a comparison between laser eye tracking systems and video eye tracking systems. The Company will also host a series of courses and meetings in conjunction with the ASCRS conference. (See attached schedule of meetings and presentations.) The main focus of the ASCRS conference and concurrent Summit Autonomous hosted events is to provide education and training regarding the Company's products. During the ASCRS conference, users of Summit Autonomous products will make 20 presentations on various topics relating to the use of the Company's products. The Company's LADARVision system, the only small spot scanning laser with an FDA approved laser eye tracker, which improves the accuracy of corneal corneal pertaining to the cornea. See also keratitis, keratopathy. corneal anomaly includes microcornea, coloboma, megalocornea, dermoid, congenital opacity. corneal black body see corneal sequestrum (below). shaping, will be the focus of four presentations. (See schedule) The Company also will honor its top customers with its annual S.A.S Awards. Over 70 renowned doctors from around the world will be inducted into the Summit Autonomous Society at an event on Saturday, May 20, 2000. The historic Charlestown Navy Yard Noun 1. Charlestown Navy Yard - the navy yard in Boston where the frigate `Constitution' is anchored Bean Town, Beantown, Boston, capital of Massachusetts, Hub of the Universe - state capital and largest city of Massachusetts; a major center for banking and will be the site for the S.A.S awards to be attended by over 300 prominent doctors from the United States, Australia, Brazil, El Salvador, Holland, India, Japan and Korea. The evening's festivities fes·tiv·i·ty n. pl. fes·tiv·i·ties 1. A joyous feast, holiday, or celebration; a festival. 2. The pleasure, joy, and gaiety of a festival or celebration. 3. will begin with a cocktail reception in the Constitution Museum next to Boston's famous Old Ironsides, followed by dinner and the awards ceremony which will be held under a tent on Pier Four in the NavyYard. Commenting on the vast number of activities and presentations from May 19 through May 24, Robert J. Palmisano, Chief Executive Officer said, "I am delighted with the Company's progress. Our customers believe we are good business partners and are helping them build their practices. We are providing refractive refractive capacity to refract light. refractive error a difference between the focal length of the cornea and lens, and the length of the eye, resulting in myopia or hyperopia. surgeons the most advanced technology in the industry. We have attained a broad range of FDA approvals enabling our doctors to deliver the most sophisticated vision correction procedures for their patients. And finally, when I see the number of presentations our valued customers are making about our products, I know that we truly are regaining our leadership position in this industry," Palmisano finished. Founded in 1985, Summit Autonomous is a leading developer, manufacturer and marketer of ophthalmic laser systems and related products designed to correct common vision disorders such as 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 , farsightedness and astigmatism astigmatism (əstĭg`mətĭz'əm), type of faulty vision caused by a nonuniform curvature in the refractive surfaces—usually the cornea, less frequently the lens—of the eye. . In 1995, Summit Autonomous was the first excimer laser company to receive FDA approval for its excimer laser system for the correction of mild to moderate myopia myopia: see nearsightedness. in the U.S. and in 1999 became the first commercial excimer laser manufacturer to receive FDA approval for the popular LASIK LASIK laser-assisted in-situ keratomileusis. LA·SIK n. Eye surgery in which the surface of the cornea is reshaped using a laser, performed to correct certain refractive disorders such as myopia. procedure. Autonomous, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , is engaged in the design and development of next-generation excimer laser instruments for laser refractive surgery. The Company's LADARVision(R) system combines laser radar eye tracking with narrow beam shaping technology and is the only FDA approved laser system to incorporate an eye-tracker during surgery. Cautionary Statement under "Safe harbor" Provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements made in this news release contain information about the Company's future business prospects. These statements may be considered "forward looking". These statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Among these risks and uncertainties are: competition from other manufacturers and vision correction technologies, delays in obtaining regulatory approvals, challenges to patents owned and licensed by the Company affecting per procedure revenues, adverse litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. results, difficulties in commercializing the LADARVision system and dependence on sole source suppliers. For additional information and risks associated with the Company's business prospects and future operating results, please refer to Summit's public filings with the Securities and Exchange Commission. SCHEDULE OF SUMMIT AUTNOMOUS MEETINGS AND PRESENTATIONS Thursday, May 18 and Friday, May 19, 2000 Excellence in LASIK Course 8:00 am - 5:00 pm Sheraton Hotel Boston Presentations by: Stephen Brint, MD Peter Hersh, MD Michael Lawless, MD Thursday, May 18, 2000 Taking Control of Your Refractive Future 12:00 - 9:00 pm Ontrack Laser Center Bedford, NH Presentations by: Marguerite McDonald, MD Paul Pender, MD John Dagianis, MD Gerald Spindel, MD T. Gordon Hand, MD Friday, May 19, 2000 LADARVision(R) Certification Course 8:00 am - 2:00 pm Sheraton Hotel Boston Presentations by: Ronald Krueger, MD Summit Autonomous Annual Meeting of Shareholders 10:00 am - 12:00pm Seaport Hotel at the World Trade Center Boston Presentations by: Robert J. Palmisano, Chief Executive Officer Robert J. Kelly, Chief Financial Officer and Executive Vice President James A. Lightman, Senior Vice President and General Counsel Charline Gauthier, OD, Ph.D., Executive Vice President and Chief Operations Officer George Pettit, MD, Ph.D., Vice President and Chief Scientist Marguerite McDonald, MD Ronald Krueger, MD Summit Autonomous Users Meeting 12:00 - 5:00 pm Seaport Hotel at the World Trade Center Boston Presentations by: Stephen Brint, MD Joseph Dello Russo Joseph Dello Russo is an ophthalmologist who specializes in laser vision correction. He is currently the director of Dello Russo Laser Vision which operates clinics in Bergenfield, New Jersey, Manhattan and Brooklyn, New York. Dr. , MD Brad Elkins, MD Doug Katsev, MD Ron Krueger, MD Michael Lawless, MD G. Brock Magruder, MD Marguerite McDonald, MD Barrie Soloway, MD Vance Thompson, MD Brian Will, MD Richard Yee, MD Sunday, May 20, 2000 Summit Autonomous Expert Breakfast 6:00 - 7:00 am Sheraton Hotel Boston Presentations by: Patrick Condon, MD Ronald Krueger, MD Michael Lawless, MD ASCRS 2000 Presentations of Summit Autonomous Products Hynes Convention Center May 20, 2000 10:00 am - 12:00 pm Jonathan Davidorf, MD Tracking: Trials and Tips for Performing LASIK with the LADARVision System May 21, 2000 11:30 am-12:30 pm Brian R. Will, MD LASIK and Nystagmus Nystagmus Definition Rhythmic, oscillating motions of the eyes are called nystagmus. The to-and-fro motion is generally involuntary. Vertical nystagmus occurs much less frequently than horizontal nystagmus and is often, but not necessarily, a sign of using the Summit Autonomous LADARVision System May 22, 2000 7:30-9:30 am Keith Thompson, MD LASIK for Myopia and Astigmatism with LADARVision System May 23, 2000 7:30-9:30 am Tom Tooma, MD LASIK for Myopia and Astigmatism with LADARVision System May 23, 2000 2:00-3:30 pm Marguerite McDonald, MD Patient Treatments Based on Wavefront-Guided CustomCornea Corrections May 21, 2000 4:00-5:30 pm Peter Hersh, MD emphasi(R)Disc as a Broad-Beam Approach for Myopic Astigmatism, Hyperopia hyperopia (hī'pərō`pēə): see farsightedness. and Hyperopic Astigmatism May 22, 2000 7:30-9:30 am Stephen Brint, MD Summit Apex Plus(TM)Excimer Laser System Multisite Clinical Investigation of Hyperopic hy·per·o·pi·a n. An abnormal condition of the eye in which vision is better for distant objects than for near objects. It results from the eyeball being too short from front to back, causing images to be focused behind the retina. Astigmatic a·stig·ma·tism n. A visual defect in which the unequal curvature of one or more refractive surfaces of the eye, usually the cornea, prevents light rays from focusing clearly at one point on the retina, resulting in blurred vision. LASIK May 23, 2000 7:30-9:30 am Roger Steinert, MD Results of LASIK for Hyperopia and Astigmatism with the Summit Apex Plus Excimer Laser System 7:30-9:30 am Charles Moore, MD One Year Results of Hyperopic LASIK with Astigmatism with the Summit Apex Plus Excimer Laser System 10:00-12:00 pm Brian Boxer-Wachler, MD Vector Analysis of Astigmatism After H-LASIK Using the Summit Apex Plus Excimer Laser System |
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