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The LCA-Vision Full Value Committee Commences Consent Solicitation to Elect New Board of Directors at LCA-Vision (Nasdaq: LCAV) and Sends Letter to Stockholders
Date:2/9/2009

t the record straight. Under CEO Steve Straus and the current Board:

    -- LCA-Vision has lost about a third, or 5 percentage points, of its U.S.
       market share, despite opening 19 vision centers.  It's not just the
       economy - it's the Board and management.
    -- Procedure volume plummeted by over 50% for the first nine months of
       2008 over the same period in 2007.  Compare that to a more modest 35%
       decline for the laser vision correction industry as a whole.  It's not
       just the economy - it's the Board and management.
    -- The Company has gone from generating over $65 million in adjusted
       EBITDA in 2006 to losing over $12 million in just the third and fourth
       quarters of 2008. It's not just the economy - it's the Board and
       management.
    -- Stockholders' dividends have been eliminated, stock buybacks suspended,
       and new vision center expansion halted.  It's not just the economy -
       it's the Board and management.
    -- Confidence in management by the Company's affiliated surgeons, the very
       bedrock of the Company's success, is at an all-time low.  It's not just
       the economy - it's the Board and management.

      THIS BOARD HAS FAILED AT THE MOST BASIC LEVEL.  IT HAS FAILED TO:

    -- Install an effective management team and demand accountability;
    -- Control spending as revenues sink;
    -- Align management and Board compensation with the Company's failing
       performance;
    -- Develop and clearly communicate an effective strategic plan, preferring
       instead their "ongoing strategic planning process" that is clearly not
       working; and
    -- Recognize and deal directly with the Company affiliated surgeons'
       public, overwhelming lack of confidence in the current CEO.

    They have had over two years to get it right. They haven't.

              IT IS TIME FOR A CHANGE - OUR PLAN FOR LCA-VISION

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SOURCE LCA-Vision Full Value Committee
Copyright©2009 PR Newswire.
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Related medicine news :

1. Law Offices of Howard G. Smith Announces Class Action Lawsuit Against LCA-Vision Inc.
2. LCA-Vision Announces Upcoming Investment Community Events
3. LCA-Vision Reports Fourth Quarter and Full-Year 2007 Financial Results
4. LCA-Vision Announces Quarterly Dividend Payment
5. LCA-Vision Announces the Opening of its 74th LasikPlus Vision Center in Des Moines, Iowa
6. LCA-Vision Announces the Opening of its 75th LasikPlus(R) Vision Center in Tulsa, Oklahoma
7. LCA-Vision Announces the Opening of its 76th LasikPlus(R) Vision Center in Woodbridge, New Jersey
8. LCA-Vision to Present at the Bank of America 2008 Health Care Conference
9. LCA-Vision Conducts 2008 Annual Stockholder Meeting
10. LCA-Vision Announces Upcoming Investment Community Events
11. LCA-Vision Announces CFO Change
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