STAAR SURGICAL Business Summary

STAAR Surgical Co (STAA) is a pure-play medical technology firm specializing in the design, development, and manufacture of implantable lenses for vision correction. The company generates nearly 100% of its revenue through the sale of its proprietary EVO family of Implantable Collamer Lenses (EVO ICL™), which are used in refractive surgery to treat myopia, hyperopia, and astigmatism. Operating primarily in the ophthalmic surgical product segment, STAAR has phased out its legacy cataract intraocular lens (IOL) business to focus exclusively on the high-growth phakic IOL market, with China serving as its largest geographic revenue driver. Its primary direct competitors include Alcon, Johnson & Johnson Vision, Carl Zeiss Meditec, and RxSight. STAAR maintains a dominant market position as the global leader in the phakic IOL category, commanding an estimated 75% unit share and over 90% dollar share worldwide. Founded in 1982 by Tom Waggoner and Dr. Thomas Mazzocco to commercialize the first foldable intraocular lens, STAAR is currently led by Interim Co-CEOs Warren Foust and Deborah Andrews. Foust, who also serves as President and COO, brings deep industry pedigree from his tenure as Worldwide President of Johnson & Johnson’s surgical vision unit, while Andrews is a 20-year company veteran and current CFO. The broader leadership team includes Chief Development Officer Magda Michna, PhD, who oversees R&D and clinical affairs, and CMO Nancy Sabin, formerly of J&J Vision. The company’s strategic direction is heavily influenced by its Board Chairman, Neal C. Bradsher, founder of Broadwood Capital, which remains the company's largest shareholder with a 31% stake. Other significant institutional investors include Vanguard Group and BlackRock.