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TLC increases revenues, buys two facilities

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ST. LOUIS — TLC Vision reported total revenues of $71 million for the first quarter of 2005, an increase of 9% compared with $65 million in the first quarter of 2004, the company said in a press release. Refractive revenues for the first quarter increased to $55.2 million from $50.9 million in 2004, the company reported.

TLC said it “continued to outperform the industry” with respect to customized LASIK adoption; 58% of center volume was attributed to customized procedures. Total paid laser procedures increased to 58,700.

TLC said that revenues from its other healthcare services also increased, generating a total of 22% of total net revenues.

The company also announced that it has acquired Southeastern Eye Center, of Greensboro, N.C., and Vision Surgical Services, a mobile cataract company in Louisville, Ky. Southeastern performed 1,800 procedures last year and has “a large optometric network that TLC will target for growth,” the company said in a separate press release. Karl Stonecipher, MD, will remain Southeastern’s medical director, TLC added.