Economy takes toll on Lasik eye surgeries

By TERRY KINNEY

The number of vision correction surgeries performed by one of the nation's largest Lasik providers continues to plummet, mostly because money is tight and people are buying bread and milk rather than expensive cosmetic or elective surgery, analysts say.

At LCA-Vision Inc., which operates 77 LasikPlus vision correction centers in 33 states, the number of procedures is down by half from a year ago, and the company has slashed advertising, cut staff and suspended dividends.

"It's 99 percent the economy," said analyst Peter Bye, who follows the industry for Jefferies & Co. in New York.

"It's very substitutable," he said of Lasik. "Take the typical customer, a 30-year-old or 35-year-old who has been wearing contacts for 15 years. If money's tight, he says 'I'll do it next year.'"

source: Business Week