1


                                                                    Exhibit 23.1





                       CONSENT OF INDEPENDENT ACCOUNTANTS


           We consent to the reference to our firm under the caption
"Independent Accountants" in Amendment No. 1 to the Registration Statement
(Form S-4, No. 333-61666) and related Prospectus of Ampersand Medical
Corporation and Subsidiaries for the registration of 4,000,000 shares of its
common stock and 572,485 shares of Series A Convertible Preferred Stock and to
the incorporation by reference therein of our report dated March 9, 2001, with
respect to the consolidated financial statements and schedule of Ampersand
Medical Corporation and Subsidiaries included in its Annual Report (Form 10-KA)
for the year ended December 31, 2000, filed with the Securities and Exchange
Commission.


                                               /s/   Ernst & Young LLP






Chicago, Illinois
July 11, 2001