The Presidents' Forum
March 10, 2005

Lindsay T. Atwood
CEO
TruVision, Inc.

Speaker Biography:
Mr. Atwood has 22 yrs in the vision industry as owner/CEO of TruVision, Paradise Optical, Alpine Vision Centers and Co-Founder of Laser Eye Sight the nations 2nd laser eye surgery center. Mr. Atwood currently sits on the Westminster College MBA Board.


TruVision, Inc.

TruVision was founded in Salt Lake City, Utah in 1996 to provide discount vision correction products to local health plan members. Today TruVision is one of the largest third-party administrators of vision services in the country. TruVision enables health plans and large corporations to offer Laser Vision Correction, Contact Lenses, Eye Exams, Eyeglasses, Hearing Exams, and Hearing Aids, to their members and employees at significant discounts. While these may seem like disparate markets, they are linked by TruVision’s unique business model, which is centered on its patent pending web-based technology. TruVision leverages this technology and its strong network of strategic partnerships to create an economy of scale that benefits service providers, health plans and the 100 million plus members.

The hearing and vision correction industries in which TruVision operates offer many opportunities due to the sheer size of the markets, under penetration of the markets, and current inefficiencies in the distribution channels.

The hearing aid market in 2003 was nearly $3.82 billion, a large and attractive market. This market however has potential to grow significantly if the population with hearing loss that does not currently purchase hearing aids can be tapped. Twenty-eight million Americans need hearing aids but only 6 million are currently using hearing aids. The main reasons for this under penetration are consumers’ perceptions, products costs, and ease of access to hearing services. TruHearing will become a market leader by offering a range of products at attractive price points and distributing those products through a network of audiologists.

The vision correction market is also large and attractive. In 2003 the total vision correction market was $18 billion. This market is also under penetrated as only 9.6 million of the approximately 157 million people who need vision correction have it, leaving an untapped market of approximately 148 million people or $35 billion. The number of people requiring, but not getting some form of vision correction and the demographic trends associated with the aging population are expected to generate increased demand for corrective eyewear and optical services. As “baby boomers” move further into the 40 - 70 age bracket, the market for vision correction has expanded with the new near vision CK procedure.

TruVision is poised to tap into these markets. The company’s business model relies on developing relationships with health plan providers to gain access to the customer base and with medical service and product providers to deliver quality products and services to the consumers with the endorsement of the Health Plan. Currently TruVision has alliances with insurance companies in 47 states, service contracts with over 250 laser providers along with corporate owned Laser Centers across the United States, and private label access to the best hearing aids available.

TruVision also has the technology and infrastructure in place to deliver other products and services through the Health Plan market.

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