O'Donnell eyes surgery franchises. (Dr. Francis O'Donnell seeks to sell franchises using laser eye surgery techniques)

O'Donnell eyes surgery franchises

St. Louis ophthalmologist and investor, Dr. Francis O'Donnell Jr., has set his sights on selling franchises that will employ a new laser technique for eye surgery.

O'Donnell is one in a group of investors trying to raise $2 million in a public offering of stock in St. Louis-based Laser Vision Centers Inc., a franchise centered around the latest in ophthalmological technology - the Excimer Laser.

Currently in clinical trials monitored by the Food and Drug Administration, the laser is being tested for use to correct nearsightedness and other eye problems using ultraviolet light to reshape the cornea. The laser, which can cost as much as $470,000, holds the promise of reducing or eliminating a person's use of eyeglasses or contact lenses.

General use of the laser must await FDA approval, which could take two to three years.

The eye laser surgery franchise operation is O'Donnell's latest foray into the financial side of medicine. The eye surgeon …