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LCA-Vision Announces Fourth Quarter and Full Year 2008 Financial Results
Date:2/10/2009

agement, multi-site operational management, consumer marketing and human resources development. Importantly, we are implementing a strategic plan with the full support of our Board of Directors that addresses all aspects of LCA-Vision's business, and many of these initiatives started to provide benefits in 2008 and early 2009, both in terms of procedure volume and cash conservation."

The accomplishments implemented by current management of LCA-Vision to respond to the current operating environment and position the company for future success with the goal of profitable growth include the following, among others:

  • In the area of patient care, the company has upgraded the laser technology in all of its vision centers and empowered decision-making at the vision center level to be more responsive to patient needs in individual markets;
  • In the area of staff development, management has introduced various training, recruitment and succession planning programs for surgeons, optometrists and staff, which have resulted in improvements in exam show-rate, patient conversion and treatment show-rate;
  • In the area of operations, management has reorganized and strengthened the company's organizational structure, including the hiring of senior executives with responsibility for operations and call center management, the opening of state-of-the-art national call and data centers, and the evaluation in collaboration with its Medical and Optometric Advisory Boards of the company's excimer laser platforms to simplify surgical processes;
  • In the area of financial/accounting management, management created the first-ever detailed annual operating budget process, improved the timeliness of financial reporting, and negotiated a five-year, $19.2 million term loan with a fixed interest rate below 5% and other favorable terms; and
  • In the area of leadership, management has created the Opto
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SOURCE LCA-Vision Inc.
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