Corporate News Blog – STAAR Surgical Announces Strategic Cooperation Agreement with Seoul/Busan Eye Clinic

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LONDON, UK / ACCESSWIRE / August 17, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for STAAR Surgical Co. (NASDAQ: STAA) (“STAAR”), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=STAA. The Company announced on August 15, 2017, that it has signed a strategic cooperation agreement with Dr. Jong Ho Lee, Seoul/Busan BalGeunSeSang Eye Clinic to provide STAAR’s EVO intraocular lenses (ICL) as a primary and premium option for patients seeking visual freedom from spectacles and contact lenses through refractive eye treatment. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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Partnership Details

The partnership includes a commitment to position the ICL as the primary treatment for patients presenting with minus 8 diopter or above corrections leading to higher refractive procedure share. The Company will also provide co-marketing and digital marketing support of the ICL, training programs for certified surgeons and staff, and new product early access and development cooperation.

Eye Clinic Expects to Introduce ICL to More Patients

Commenting on the agreement, Dr. Jong Ho Lee, President of Seoul/Busan BalGeunSeSang Eye Clinic, stated:

“I am very excited that my clinic became a strategic partnership account with STAAR Surgical Company and I expect to introduce the ICL to many more patients so they can experience the high quality of vision in their lives.”

Dr. Jong Ho Lee has implanted more than 30,000 ICL’s in his clinics in the past 15 years. Dr. Jong Ho Lee’s clinics possess 13 elite Ophthalmic Surgeons and more than 150 staff members dedicated to help provide excellent visual results to its patients.

STAAR’s Transformational Goal

Caren Mason, President and Chief Executive Officer of STAAR, said:

“STAAR is pleased to have entered into this Strategic Cooperation Agreement with Dr. Jong Ho Lee, Seoul/Busan BalGeunSeSang Eye Clinic. Dr. Lee has been an outstanding supporter of the ICL and has implanted more ICL’s than any other surgeon. STAAR considers strategic cooperation agreements as fundamental to its transformational goal to provide outstanding vision care experience and outcomes for patients with exceptional clinical support as a core tenet.”

STAAR Reports Q2 2017 Results

As on June 30, 2017, STAAR’s revenue increased 5% to $21.9 million on a y-o-y basis. During Q2 FY17, the Company’s gross margin increased 80 basis points to 70.5% of revenue from 69.7% of sales in Q2 FY16. For the reported quarter, STAAR’s adjusted EPS was negative $0.01 compared to negative $0.02 in Q2 FY16.

About STAAR Surgical Co.

Headquartered in Monrovia, California, STAAR designs, develops, manufactures, and markets implantable lenses for the eye and companion delivery systems. These lenses are intended to provide visual freedom to patients by lessening or eliminating the reliance on glasses or contact lenses. The company dedicated solely to ophthalmic surgery for over 30 years, and has around 300 full time employees in over 60 countries.

Last Close Stock Review

At the closing bell, on Wednesday, August 16, 2017, STAAR Surgical’s stock was marginally up by 0.85%, ending the trading session at $11.90. A total volume of 166.55 thousand shares have exchanged hands, which was higher than the 3-month average volume of 86.93 thousand shares. The Company’s stock price surged 23.96% in the last three months, 19.60% in the past six months, and 29.21% in the previous twelve months. Moreover, the stock gained 9.68% since the start of the year. The stock currently has a market cap of $487.10 million.

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