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LCA-Vision advisory board lauds management's actions
By Lisa Kerner
Charlotte, N.C., March 18 - LCA-Vision Inc. said its 11-member medical advisory board supports management's actions to address concerns raised by LCA-Vision surgeons in June 2008.
Those actions include having surgeons more involved with management, significant strategic planning, and increased transparency, according to the advisory board's March 16 letter to LCA-Vision chairman E. Anthony Woods.
"The company is benefiting from our strengthened partnership with our medical advisory board and surgeons across our LasikPlus vision centers," said LCA-Vision chief executive officer Steven Straus.
"The surgeons' input is extremely valuable in helping us navigate through a challenging environment that has significantly impacted our business and our industry," Straus said.
LCA-Vision also urged its shareholders vote to revoke consent on all proposals put forth by the LCA-Vision Full Value Committee.
As previously reported, LCA-Vision founder and former chief executive officer Stephen Joffe formed the committee, along with the company's former chief operating officer, Craig Joffe, and former executive vice president of finance, Alan Buckey.
The group, with an 11% stake in LCA-Vision, began a consent solicitation to replace the Cincinnati-based laser vision correction services company's board with Stephen Joffe, Jason T. Mogel, Robert Probst, Edward J. VonderBrink and Robert H. Weisman.
The shareholder group's consent solicitation ends April 9.
Proxy Governance, Inc., RiskMetrics Group/ISS and Glass, Lewis & Co. recommended that shareholders vote to keep the company's current management and board of directors in place and reject all proposals made by the dissident shareholder group, according to LCA-Vision.
LCA-Vision has retained Georgeson Inc. as its consent revocation solicitation agent.
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