8-K

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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                    FORM 8-K

                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934


         Date of Report (Date of earliest event reported): May 10, 2004



                             TLC VISION CORPORATION
             (Exact name of registrant as specified in its charter)


  NEW BRUNSWICK                  0-29302                      980151150
 (State or other            (Commission File               (I.R.S. Employer
 jurisdiction of                 Number)                Identification Number)
  organization)


           5280 SOLAR DRIVE, SUITE 300                          L4W 5M8
              MISSISSAUGA, ONTARIO                             (Zip Code)
   (Address of principal executive offices)


       Registrant's telephone number, including area code: (905) 602-2020



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ITEM 5.  OTHER EVENTS

         On May 10, 2004, the Company issued a press release pertaining to an
update with respect to its patented Rheopheresis(R) blood filtration process
business ("RHEO"). A copy of that press release is attached hereto as an
exhibit.

ITEM 7.  LIST OF EXHIBITS FILED

         (c)      Exhibits

                  99.1 RHEO Update Press Release, dated May 10, 2004


                                      * * *



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                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Dated: May 11, 2004

                                       TLC VISION CORPORATION



                                       By: /s/ Robert W. May
                                           -------------------------------------
                                           Robert W. May
                                           General Counsel and Secretary



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                                  EXHIBIT INDEX



Exhibit No.       Description
- -----------       -----------
               

99.1              RHEO Update Press Release, dated May 10, 2004






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EX-99.1

                                                                    EXHIBIT 99.1


(TLC VISION LOGO (SM))

NEWS RELEASE                                CONTACT:

FOR IMMEDIATE RELEASE                       Stephen Kilmer
                                            Vice President, Investor Relations
                                            (905) 238-3904


                         TLCVISION PROVIDES RHEO UPDATE
                        ON CONFERENCE CALL WITH INVESTORS


TORONTO, ON--May 10, 2004--TLC Vision Corporation (NASDAQ:TLCV; TSX:TLC)
discussed its fiscal 2004 first quarter financial results during a conference
call with investors this morning.

During the call, TLCVision's Chairman & CEO, said the Company believes that a
separation and initial public offering of the patented Rheopheresis(R) blood
filtration process business ("RHEO") may be the way to maximize its potential
and result in the highest value for TLCV and the Company's shareholders. To help
facilitate that, TLCVision and the other major shareholders of Vascular Sciences
Corporation ("VSC") have in principle agreed to a plan to proceed with a
re-organization that would combine VSC and OccuLogix LP into a new stand-alone
device company focused on development of the RHEO procedure and the sales and
distribution of RHEOfilters and OctoNova(R) pumps. The primary question facing
the Company is one of timing and there are a number of factors that can affect
that.

Mr. Vamvakas went on to say that "If I had to guess now, I'd say we would either
be looking at sometime this fall or, if not, probably after the clinical data
and PMA have been submitted."

An audio replay of the call will be available until May 24 at 5:00 p.m. ET and
can be accessed by dialing 416-626-4100 and entering reservation # 21193098. In
addition, an archive of the call will be available for an indefinite period at
www.tlcv.com.

ABOUT TLC VISION

TLCVision is North America's premier eye care services company. Through its
subsidiaries, the company focuses on three large eye care markets - refractive
surgery (surface of the eye), cataract surgery (anterior of the eye) and the
development of a potential dry AMD therapy (posterior of the eye). The key
drivers of TLCVision's strategy are our affiliated network of thousands of eye
doctors, proven corporate and consumer marketing and education programs, and
access to state of the art clinical technologies. We are supported by a strong
operations management culture and superior information technology. More
information about the company can be found on the TLCVision web site at
www.tlcv.com.






FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking statements within the
meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the
U.S. Securities Exchange Act of 1934, which statements can be identified by the
use of forward looking terminology, such as "may", "will", "expect", "intend",
"anticipate", "estimate", "predict", "plans" or "continue" or the negative
thereof or other variations thereon or comparable terminology referring to
future events or results. The Company's actual results could differ materially
from those anticipated in these forward-looking statements as a result of
numerous factors, including the timing of expenditures, effects of competition,
changes to pricing, acquisitions and expansion opportunities, any of which could
cause actual results to vary materially from current results or TLCVision's
anticipated future results. See the Company's reports filed with the Canadian
Securities Regulators and the U.S. Securities and Exchange Commission from time
to time for cautionary statements identifying important factors with respect to
such forward looking statements, including certain risks and uncertainties, that
could cause actual results to differ materially from results referred to in
forward looking statements. TLCVision assumes no obligation to update the
information contained in this press release.