The LCA-Vision Full Value Committee Files Detailed Presentations
Outlines the Sharp and Substantial Deterioration of Stockholder Value under the Current Board and Management Team
Discloses Details of Plan to Restore Value for Benefit of All Stockholders
In the presentations, the Full Value Committee outlines LCA-Vision’s dramatic financial underperformance and shows that significant operational, financial and governance problems continue to plague the Company and materially impair stockholder value. Specifically, the presentations address and detail:
The Financial Catastrophe that has taken place under CEO
Steve Strausand the current Board, including the sharp deterioration in LCA-Vision’s stock price; market capitalization; enterprise value; cash flows; same store procedural volume and revenues; marketing efficiencies and effectiveness; and market share, among other key metrics;
- The Numerous Failures of the Current LCA-Vision Board and Senior Management Team; and
- The Full Value Committee’s Turnaround Plan for Restoring Value at LCA-Vision, including how they will grow the current business; restore the broken relationships with the Company’s affiliated physicians, who generate 100% of the Company’s revenues; work to improve efficiency and reduce costs strategically; build marketing into a core competency of the Company and significantly drive down marketing costs; and how they will improve patient quality of care, among other key initiatives.
The Full Value Committee urges all stockholders to vote the WHITE consent card to help remove the current Board that has presided over a loss of over
CERTAIN INFORMATION CONCERNING PARTICIPANTS
THE LCA-VISION FULL VALUE COMMITTEE ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE CONSENT SOLICITATION STATEMENT AND ANY OTHER SOLICITATION MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY CONTAIN IMPORTANT INFORMATION. SUCH SOLICITATION MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC’S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS SOLICITATION WILL PROVIDE COPIES OF THE CONSENT SOLICITATION STATEMENT WITHOUT CHARGE UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS’ SOLICITOR BY CALLING, TOLL-FREE, (888) 750-5834.
The participants in the consent solicitation are Dr.
As of the date of this filing, Dr. Joffe directly beneficially owns 1,171,952 shares of Common Stock of the Company,
For the purposes of Rule 13d-5(b)(1) of the Securities Exchange Act of 1934, as amended, each of the participants in this solicitation is deemed to beneficially own the shares of Common Stock of the Company beneficially owned in the aggregate by the other participants. Each of the participants in this proxy solicitation disclaims beneficial ownership of such shares of Common Stock except to the extent of his or its pecuniary interest therein.
SOURCE The LCA-Vision Full Value Committee