Navigation Links
Glass Lewis Recommends Shareholders Support LCA-Vision Board of Directors and Reject All Three Proposals by Dissident Joffe Group

Urges LCA-Vision Stockholders to Vote GOLD

CINCINNATI, Feb. 27 /PRNewswire-FirstCall/ -- LCA-Vision Inc. (Nasdaq: LCAV) announces that Glass Lewis & Co., LLC, a leading independent research and proxy advisory firm, today recommended that LCA-Vision stockholders vote to retain the Company's current Board of Directors and reject all of the proposals, including the removal of the current Directors and election of replacement Directors, in the Joffe Group's consent solicitation.

In short, Glass Lewis recommends that LCA-Vision stockholders vote the GOLD card on all three proposals.

In its report, Glass Lewis concludes that:

  • The incumbent directors of LCA-Vision are in the best position to guide the Company during a turnaround period.
  • The current management team has articulated a plan to enhance shareholder value by: 1) preserving cash through cash and expense management; 2) enhancing marketing strategies; 3) expanding the Company's marketing presence into new domestic markets; and 4) expanding the existing business model into other complementary medical procedures and services through a new Lifetime Vision model.
  • The Joffe Group's operations plan and business strategy as presented are "particularly thin."
  • Glass Lewis cannot support the appointment of Stephen Joffe as a Director, in light of accounting discrepancies at the Company during the tenure of Joffe Group members Stephen Joffe, Craig Joffe and Alan Buckey as senior executive officers of the Company.
  • The Company, under Stephen Joffe's leadership (and while Alan Buckey was CFO), "was not effectively managing its financial reporting practices or lacked internal accounting expertise."
  • Edward VonderBrink, as chairman of the audit committee at Streamline Health Solutions, "has not performed that responsibility to the satisfaction of the Streamline shareholders."
  • The remainder of the Joffe Group's nominees do not "provide any unique or necessary experience" that would benefit the Company.
  • LCA-Vision's performance has been, on balance, in line with the Company's closest competitor.

"We are delighted that Glass Lewis has recommended that our stockholders reject all three Joffe Group proposals, as it is consistent with our belief that current management and the Board of Directors are diligently working in concert to build stockholder value," said Steven Straus, LCA-Vision chief executive officer. "We have undertaken a multi-initiative plan that encompasses all aspects of our business with the goals of transitioning to a sustainable growth model, while managing our cash. We are realizing tangible results of our plan as evidenced by our increase in market share to 11.9% in the fourth quarter of 2008 from 10.5% in the third quarter. We believe we are on the right track and urge our stockholders to vote for our current Board and management team."

Due to the nature of the Consent process, your voting instruction is extremely important and time sensitive. LCA-Vision urges all stockholders to vote their GOLD cards to REVOKE CONSENT on all three proposals. Please discard any proxy card that you receive from the Joffe Group. If you have already voted to consent and wish to change your vote, you have every right to revoke your consent and vote the GOLD proxy. Only the latest dated card counts.

LCA-Vision filed its Definitive Consent Revocation Statement ("Consent Revocation Statement") with the Securities and Exchange Commission on Monday, February 9, 2009, and copies of the Consent Revocation Statement with a GOLD Consent Revocation Card were mailed to stockholders beginning February 10, 2009. The Consent Revocation Statement can be obtained immediately from the SEC's website at the following link:

or from the Investor Relations section of the Company's website at and . Copies of the Consent Revocation Statement and consent revocation card may also be obtained from Georgeson Inc.

Additional Information:

Georgeson Inc. has been retained by LCA-Vision as consent revocation solicitation agent. Stockholders with questions are encouraged to call Georgeson toll-free 1-800-457-0109. Copies of the Company's Consent Revocation Statement, and any other documents filed by LCA-Vision with the SEC in connection with the consent solicitation can be obtained free of charge from the SEC's website at, from the Company's website at and , or from Georgeson.

About LCA-Vision Inc./LasikPlus(R)

LCA-Vision Inc., a leading provider of laser vision correction services under the LasikPlus(R) brand, operates 75 LasikPlus(R) fixed-site laser vision correction centers in 32 states and 57 markets in the United States and a joint venture in Canada. Additional company information is available at and

                     Earning Trust Every Moment.
                                        Transforming Lives Every Day.

    For Additional Information

    Company Contact:
    Barb Kise
    LCA-Vision Inc.

    Investor Relations Contact:
    Jody Cain
    Lippert/Heilshorn & Associates

SOURCE LCA-Vision Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. During Tough Economic Times Remember Your Health - Save With Your AAA Membership on Necessities From Prescriptions to Eyeglasses
2. The New Crystalens HD Gives Many Baby Boomers and Seniors an Opportunity to See Clearly at All Distances while Reducing or Eliminating the Need for Glasses
3. Hundreds of Uninsured Georgia School Children to Receive Free Eye Exams and Glasses
4. Prescription Safety Glasses Protect Employees Vision
5. Do You Need Glasses?
6. Eyeglass Dispensary and Contact Lens Now Available at Global Laser Vision
7. Video: A Toast to the Cure Set for October 30 Breast Cancer Survivors Raise Your Glasses
8. A glass apart
9. Daily Glass of Wine Cut Risk of Fatty Liver Disease
10. Kids Think Glasses Make Others Look Smart, Honest
11. Prism glasses expand the view for patients with hemianopia
Post Your Comments:
(Date:10/13/2015)... Angeles, CA (PRWEB) , ... October 13, 2015 , ... ... Managed Care, a recent study has shown that women who successfully lose weight with ... women in the United States each year. The article notes that anywhere from 40 ...
(Date:10/13/2015)... ... October 13, 2015 , ... Symposium Chairman, Dr. Rod J. Rohrich is pleased ... to be held March 2nd and 3rd, 2016. The annual meeting, along with the ... cosmetic physicians from around the world. , Key topics at this year's event will ...
(Date:10/13/2015)... ... 13, 2015 , ... Relay (, a technology company that ... significant contract that will provide its award-winning private messaging solution to Independence Blue ... success of its Relay program, IBX Wire™, which now has over 550,000 members ...
(Date:10/13/2015)... ... October 13, 2015 , ... NavaFit Inc. today announced the ... others to train with, participate in local fitness & sporting events, and stay ... , “As high medical costs drive us to get more serious about fitness and ...
(Date:10/13/2015)... ... , ... Protein is essential to good health. You need it to make ... much protein does the average man need in order to stay healthy? , ... issue of Harvard Men's Health Watch . Most Americans get about 15% of ...
Breaking Medicine News(10 mins):
(Date:10/13/2015)... Health Gorilla ( ) today announced the ... a secure platform for clinical data and communications poised to ... manage healthcare in the US. The launch follows the closing ... total of $4.4M raised to date, with Data Collective ... , Harris Barton , Orfin Ventures and ...
(Date:10/13/2015)... --> --> Opportunities for ... Asthma and COPD Therapies market? Which areas are going to ... report shows you potential revenues to 2025, assessing data, trends, ... tables, charts, and graphs. Discover the most lucrative areas in ... lets you assess forecasted sales at overall world market and ...
(Date:10/13/2015)... SPRINGS, N.C. , Oct. 13, 2015  Yesterday ... NVS Influenza Vaccines Holly Springs manufacturing site located in ... Since 2014, the facility has produced Flucelvax ® ... has the potential for faster start-up and is not ... 2015 CSL Limited acquired the influenza vaccines business of ...
Breaking Medicine Technology: