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STAAR Surgical Company (STAA) is a global leader in the design, development, manufacturing, and sale of implantable lenses for the eye. The company specializes in providing innovative solutions for refractive vision correction, offering premium products that help patients achieve freedom from eyeglasses or contact lenses. Its primary offerings include implantable Collamer lenses (ICLs) and accessory delivery systems, which are used in minimally invasive ophthalmic surgeries.
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Implantable Collamer Lenses (ICLs) - Manufactured using a proprietary collagen copolymer material called Collamer, these lenses are designed for refractive vision correction and are implanted without removing the eye's natural lens. They are foldable for minimally invasive surgery and reversible if removal is desired.
- EVO Family of Lenses - Includes EVO ICL, EVO+ ICL, EVO Visian ICL, and EVO Viva, offering premium refractive outcomes and addressing conditions like myopia, astigmatism, and presbyopia.
- Visian ICL - Provides solutions for hyperopia (farsightedness) and includes toric versions (TICL) for astigmatism correction.
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Other Surgical Products - Includes accessory delivery systems and other minor surgical products. Historically, this segment also included intraocular lenses (IOLs) for cataract surgery, but these were phased out in 2023.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Thomas G. Frinzi ExecutiveBoard | President, CEO, and Chair of the Board | Executive Chair of the Board of Directors at CorneaGen | Joined STAAR's Board in June 2020, became Chair in June 2022, and CEO in January 2023. Extensive experience in ophthalmic and medical device industries, including leadership at Johnson & Johnson Vision and Abbott Medical Optics. | View Report → |
Keith Holliday, Ph.D. Executive | Chief Technology Officer (CTO) | None | Joined STAAR in August 2015 as VP of R&D, promoted to CTO in March 2017. Expert in ophthalmic technologies with numerous patents and publications. | |
Nathaniel B. Sisitsky, Esq. Executive | General Counsel and Corporate Secretary | None | Joined STAAR in December 2023. Previously General Counsel at NuVasive, Inc., and CareFusion Corporation. Holds a J.D. from NYU School of Law. | |
Patrick F. Williams Executive | Chief Financial Officer (CFO) | None | Joined STAAR in July 2020. Previously CFO at Sientra, Inc., and ZELTIQ Aesthetics. Holds an MBA in Finance and Management from San Diego State University. | |
Scott Barnes, M.D. Executive | Chief Medical Officer (CMO) | None | Joined STAAR in October 2017. Former Chief of Ophthalmology Services at Womack Army Medical Center. Retired Colonel with 30 years of military service. | |
Warren Foust Executive | Chief Operating Officer (COO) | None | Joined STAAR in April 2023. Previously Worldwide President, Surgical at Johnson & Johnson Vision. Extensive experience in medical device commercialization and operations. | |
Aimee S. Weisner Board | Director | Board Member at Glaukos Corporation and Lensar, Inc.. | Joined STAAR's Board in June 2022. Former General Counsel at Edwards Lifesciences. Extensive legal and compliance experience in the medical device industry. | |
Arthur C. Butcher Board | Director | Executive VP and Group President, MedSurg and Asia Pacific at Boston Scientific; Board Member at Acotec Scientific Holdings Limited. | Joined STAAR's Board in March 2024. Extensive experience in medical device marketing and strategy, particularly in the Asia-Pacific region. | |
Elizabeth Yeu, M.D. Board | Director | Board Member at Tarsus Pharmaceuticals and Avellino Lab USA; President of ASCRS. | Joined STAAR's Board in January 2021. Nationally recognized ophthalmologist and educator. Partner at Virginia Eye Consultants and Assistant Professor at Eastern Virginia Medical School. | |
Lilian Zhou Board | Director | None | Joined STAAR's Board in December 2023. Founder and former CIO of Yulan Capital Management. Extensive capital markets and investment experience in the Asia region. | |
Stephen C. Farrell Board | Lead Independent Director | None | Joined STAAR's Board in January 2016. Former CEO of Convey Health Solutions. Extensive experience in healthcare distribution and financial stewardship. | |
Wei Jiang Board | Director | Board Member at Waters Corporation. | Joined STAAR's Board in March 2024. Over 25 years of experience in the pharmaceutical and medical device industries, with a focus on the Asia-Pacific region. |
- Considering the recent macroeconomic headwinds in China and the tapering demand during the high season, can you elaborate on how the current inventory levels in the distributor channel might impact future sales, and what strategies you have in place to manage potential overstocking?
- With the U.S. refractive market down 18% year-over-year, yet your U.S. sales grew 16%, how sustainable is this outpacing growth, and what factors could potentially hinder you from continuing to gain market share in a declining market?
- Given that competitors like iBright may enter the Chinese market in 2025 and the potential price compression from laser vision correction alternatives, how do you plan to defend your market share and maintain your pricing strategy in China?
- Your 2024 guidance reflects changes in regional growth expectations due to dynamic macroeconomic conditions; which specific regions are expected to offset the slowdown in China, and how confident are you that this regional performance can sustain your overall growth targets?
- While you've expressed confidence in your long-term growth prospects despite not providing 2025 guidance, what key assumptions support this optimism, and what are the primary risks that could materially impact your future growth outlook?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Shanghai Lansheng | Distributor for China & Hong Kong | All | 2023: $185.6M (57.6% of net sales ), 70% of A/R ; 2022: $148.2M (52.1% ), 59% of A/R ; 2021: $107.3M (46.6% ) |
Recent press releases and 8-K filings for STAA.
- Q1 2025 Net Sales: $42.6M (-45% YoY) driven by minimal China sales ($389K vs. $38.5M last year), while ex-China sales increased 9% to $42.2M
- Net Loss: The quarter recorded a net loss of $(54.2)M or $(1.10) per share
- Leadership Changes & Strategic Initiatives: CEO Stephen Farrell announced management streamlining with Warren Foust promoted to President and Deborah Andrews reinstated as Interim CFO
- Gross Margin & Cost Optimization: Gross margin fell to 65.8% from 78.9% due to lower U.S. production and higher costs at the Switzerland facility, with restructuring measures targeting 70% in H2 2025 and a future return to 75%–80%
- China Strategy: Tariff mitigation strategies are in place—including shipping consigned inventory—with expectations to normalize China sales in Q3 2025
- Warren Foust is promoted to President and Chief Operating Officer, taking on expanded operational responsibilities effective March 17, 2025.
- Deborah Andrews returns as Interim CFO while Patrick Williams steps down, with a consulting arrangement to aid the transition.
- Magda Michna, PhD is appointed as Chief Development Officer, and Keith Holliday retires from his role as Chief Technology Officer.