CINCINNATI, Oct. 28 /PRNewswire-FirstCall/ -- LCA-Vision Inc. (Nasdaq: LCAV), a leading provider of laser vision correction services under the LasikPlus(R) brand, today announced that it will serve as a network laser vision provider for a new insurance benefit underwritten by a nationally known, "A-" (Excellent) rated insurance carrier, Standard Security Life Insurance Company of New York. The benefit provides members covered by sponsoring health plans a one-time allowance from the insurance company of up to $600 for covered laser vision correction procedures. This benefit is being made available to healthcare plans, employer groups and unions.
"Procedure cost is a major factor in the patient's decision-making process. We believe this innovative product will act as a catalyst for insured members interested in laser vision correction, but concerned about the price," said Steven C. Straus, Chief Executive Officer of LCA-Vision. "To our knowledge, this is the first offering of this kind for laser vision correction services and we are delighted to be named a network provider."
Scott Wood, Co-Chief Operating Officer & Senior Vice President of The IHC Group, Standard Security's parent organization, stated, "The initial reaction to the Insured Lasik product from our health coverage provider clients is highly favorable. We believe this product could serve as an important differentiating feature with wide appeal and affordable rates for companies, while they provide a meaningful new benefit for the employees and their families. Insured members can maximize their savings on laser vision correction by an extra 15 percent by choosing to have procedures performed within the network."
Standard Security Life Insurance Company of New York
Standard Security Life Insurance Company of New York is a member of the IHC Group, an insurance organization composed of Independence Holding Company (NYSE: IHC) and its operating subsidiaries. The company, which was founded in 1958, is domiciled in the State of New York, and headquartered in New York City. It is licensed in all 50 states, the District of Columbia, the Virgin Islands, and Puerto Rico. Standard Security Life is rated "A-" (Excellent) by A.M. Best. Standard Security Life provides various lines of life, health, and disability insurance.
This news release contains forward-looking statements based on current expectations, forecasts and assumptions of LCA-Vision that are subject to risks and uncertainties. These forward-looking statements are based on information available to us as of the date hereof. Actual results could differ materially from those stated or implied in such forward-looking statements due to risks and uncertainties associated with our business, including, without limitation, those concerning economic, political and sociological conditions; the acceptance rate of new technology, and our ability to successfully implement new technology on a national basis; market acceptance of our services; the successful execution of marketing strategies to cost effectively drive patients to our vision centers; competition in the laser vision correction industry; an inability to attract new patients; the possibility of long-term side effects and adverse publicity regarding laser vision correction; operational and management instability; legal or regulatory action against us or others in the laser vision correction industry; our ability to profitably operate vision centers and retain qualified personnel during periods of lower procedure volumes; the relatively high fixed cost structure of our business; the continued availability of non-recourse third-party financing for our patients on terms similar to what we have paid historically; and the future value of revenues financed by us and our ability to collect on such financings which will depend on a number of factors, including the worsening consumer credit environment and our ability to manage credit risk related to consumer debt, bankruptcies and other credit trends. In addition, an ongoing FDA study about post-Lasik quality of life matters could potentially impact negatively the acceptance of Lasik. Except to the extent required under the federal securities laws and the rules and regulations promulgated by the Securities and Exchange Commission, we assume no obligation to update the information included herein, whether as a result of new information, future events or circumstances, or otherwise. For a further discussion of the factors that may cause actual results to differ materially from current expectations, please review our filings with the Securities and Exchange Commission, including, but not limited to, our reports on Forms 10-K, 10-Q and 8-K.
Except to the extent required under the federal securities laws and the rules and regulations promulgated by the Securities and Exchange Commission, we assume no obligation to update the information included in this news release, whether as a result of new information, future events or circumstances, or otherwise.
About LCA-Vision Inc. / LasikPlus(R)
LCA-Vision Inc., a leading provider of laser vision correction services
under the LasikPlus(R) brand, operates 77 LasikPlus(R) fixed-site laser
vision correction centers in 33 states and 59 markets in the United States
and a joint venture in Canada. Additional company information is available
at http://www.lca-vision.com and http://www.lasikplus.com.
Earning Trust Every Moment.
Transforming Lives Every Day.
For Additional Information
Company Contact: Investor Relations Contact:
Barb Kise Jody Cain
LCA-Vision Inc. Lippert/Heilshorn & Associates
|SOURCE LCA-Vision Inc.|
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