<DOCUMENT>
<TYPE>424B1
<SEQUENCE>1
<DESCRIPTION>FINAL PROSPECTUS DATED 08/12/1999
<TEXT>
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Canada
KeraVision received approval in Canada in May 1998 to sell Intacs for the
treatment of myopia in the range of -1.0 to -5.0 diopters of correction, along
with related instruments. KeraVision focused its initial marketing efforts on
developing seven sites to become proficient in the Intacs corneal ring segment
placement procedure, to be able to discuss the Canadian experience with Intacs
corneal ring segments and to potentially serve as training centers. KeraVision
then formally announced the product launch in October 1998. KeraVision targeted
the Vancouver area for the purpose of training a high percentage of the
refractive surgeons in the region and testing the effect of consumer
advertising on patient flow to those centers.
Europe/Other
Upon obtaining the right in November 1996 to market Intacs corneal ring
segments in European Union countries, KeraVision commenced a sales and
marketing program concentrated in parts of France, Germany and Austria. As part
of this program, KeraVision established a European headquarters in Paris,
France. A small sales office in France handles sales of Intacs corneal ring
segments in the French market. A distributor sells KeraVision's products in
Germany and Austria.
From information obtained in the course of conducting the training sessions
and from consumer marketing studies, KeraVision determined that the overall
refractive surgery market in France and Germany was significantly less than
that of the United States on a per capita basis, and that the refractive
surgery markets in those countries do not appear to be growing at a substantial
rate, if at all. This lack of growth may be related in part to the lack of a
delivery or referral channel whereby potential patients can easily reach the
ophthalmic surgeon, rather than the non-surgical ophthalmologists and opticians
who may tend to recommend that a patient not consider refractive surgery.
Further, restrictions on direct broad scale advertising hinders the expansion
of consumer awareness of refractive surgery. It is expected that because of
these and other factors the refractive surgery market and the market for Intacs
corneal ring segments will be slow to develop in Europe. KeraVision, however,
is seeking to expand its reach to other European countries by adding additional
distributors. KeraVision has concluded or is near completion of agreements with
distributors in Spain, Switzerland, the Benelux region, Greece, and the United
Kingdom. KeraVision has also updated its agreement with its Italian
distributor. KeraVision has completed distribution agreements with companies in
Israel, South Africa and Mexico.
29
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Asia
In July 1998, KeraVision commenced our first clinical trial in Asia, with the
initiation of a myopia trial in Singapore. We have signed a distribution
agreement with a South Korean distributor to begin the work on product
registration in South Korea. We are reviewing our plans for expanding into
other areas in the Pacific Rim.
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