Ultralase vision is realised with milestone

Ultralase opened its first vision correction clinic in the Wirral in February 1991. Two decades later, it has 31 clinics throughout the UK and Ireland.

The Leeds-based company has completed more than 225,000 treatments over that time, including procedures for sporting stars such as Sir Steve Redgrave, Paul Collingwood, Sir Clive Woodward, Jonathan Edwards and Bryan Robson.

Tony Veverka, chief executive, underwent laser eye surgery when he joined the business 11 years ago.

He said: “Celebrating 20 years of changing peoples’ lives is a significant milestone for the company and having experienced first hand the life-changing benefits that freedom from glasses and contact lenses can bring makes it all the more amazing.

“Knowing the difference it can make to each and every contact lens and glasses wearer is what drives us to ensure that we’re providing the best possible solution and highest level of care to all.”

He said the company has made “significant achievements” in its history, including becoming the first laser eye treatment provider to have its results verified and the first to ensure that all UK surgeons are certified by the Royal College of Ophthalmologists.

It also claims to be the first laser eye specialist in the UK to offer a lifetime care guarantee.

Ultralase has had a number of different owners since it was founded by Christopher Neave. Corporacin Dermoesttica, the Spanish medical aesthetic group, acquired the business for £30m in 2005 and made a huge profit three years later when it sold the company to private equity group 3i at the top of the market for £175m. Last year, 3i wrote off its investment and Ultralase went through a restructuring deal, with banks taking a majority stake in the business.

Mr Veverka said the company saw double-digit sales and single-digit profit growth in 2010 in an operating environment that was “probably flat or in decline”.

“We feel we took market share,” he said, adding that profits would have been higher had the company not invested in infrastructure improvements.

Trading in the first quarter of this year is slightly ahead on the same period last year, said Mr Veverka, but he sounded a note of caution over consumer confidence.

“The general consumer appetite for purchases of discretionary big ticket items has been more difficult since August. We forecast that will probably continue through most of this year.”

He added that Ultralase has been able to mitigate against this by getting better at targeted marketing and is converting more leads. On the new products front, he said Ultralase is developing interocular and cataract work as a new revenue stream.

Mr Veverka added: “We look forward to offering yet more market-leading treatments and services in the very near future.”