MONROVIA, Calif., April 17, 2013 /PRNewswire/ -- STAAR Surgical Company (NASDAQ: STAA), a leading developer, manufacturer and marketer of minimally invasive ophthalmic products, today announced its significant participation in the upcoming annual Symposium of the American Society for Cataract and Refractive Surgery (ASCRS) to be held in San Francisco from April 19 through 23.
The Company will be highlighting the Visian® ICL product line, the fastest growing refractive technology in the world, with patient implants now exceeding 350,000. Nearly 100,000 of STAAR's Visian Toric ICL lenses have been successfully implanted in patients throughout the 60 markets where it is approved. The Company's CentraFLOW, which simplifies ICL treatment by making it a one-step process, has been implanted in over 16,000 patient procedures. STAAR's CentraFLOW technology which utilizes the KS-AquaPORT makes the ICL implant procedure more convenient and cost effective for both the patient and surgeon.
STAAR Surgical will also be highlighting a number of its innovative IOL developments and delivery system technologies, specifically its new family of Toric IOLs and its new Preloaded Acrylic IOLs in the KS-SP and KS-SX product lines.
"We continue to be encouraged by increasing market share gains of our Visian ICL worldwide while there is growing evidence of continued decline in LASIK procedures," said Barry G. Caldwell, president and CEO of STAAR Surgical. "With the introduction over the past few years of several truly innovative ICL enhancements, improved visual results, and comfort for the patient and a simpler, more efficient procedure for the surgeon, we have seen increased refractive surgeon interest in our solutions, especially as an alternative to LASIK surgery. Our participation at the conference will feature several clinical presentations by leading ophthalmologists from throughout the world on ICL and IOL technology, relative to their experience with our Visian ICL products, as well as our premium IOLs, including the nanoFLEX Toric IOL for the European markets. In addition, we will have again expanded the STAAR Surgical booth in order to satisfy the growing interest in our technologies."
During a breakfast meeting for professional investors and analysts on Saturday, April 20, presentations will feature Dr. Erik Mertens, Medical Director and founder of the Medipolis Eye Centre in Antwerp, Belgium, who will discuss the results and benefits his patients have received with the Visian ICL CentraFLOW technology. He will also present his recent experience with a custom implant having an enhanced optic design similar to that of the Company's next generation ICL, the V5. The patient receiving that custom implant will be on hand to offer his personal testimony on the new optics. Dr. Mertens will also review the preloaded feature on the V5 ICL and how this may impact his procedure time when it becomes available later this year. In addition, an update will be provided on patient experience with the new nanoFLEX Toric IOL in Italy and the Dominican Republic, as well as the overall progress of commercialization of the nanoFLEX Toric in Europe.
Mr. Caldwell will provide a brief update on the Company's operations through the first quarter. Preliminary results announced on April 9, 2013 included revenues of $18 million, representing approximately 16% year over year growth and Visian ICL revenue growth of approximately 24%, which exceeded the $10 million level in quarterly revenue for the first time in the Company's history.
A live audio webcast of the presentation will be available at 7:30 a.m. PT/10:30 a.m. ET from the investor section of the Company's website at www.staar.com/html/investor-info.html.
About STAAR Surgical
STAAR, which has been dedicated solely to ophthalmic surgery for over 25 years, designs, develops, manufactures and markets implantable lenses for the eye and delivery systems therefor. All of these lenses are foldable, which permits the surgeon to insert them through a small incision. STAAR's lens used in refractive surgery as an alternative to LASIK is called an Implantable Collamer® Lens or "ICL." A lens used to replace the natural lens after cataract surgery is called an intraocular lens or "IOL." Over 350,000 Visian ICLs have been implanted to date; to learn more about the ICL go to: www.visianinfo.com. STAAR has approximately 300 full time employees and markets lenses in over 60 countries. Headquartered in Monrovia, CA, it manufactures in the following locations: Nidau, Switzerland; Ichikawa City, Japan; Aliso Viejo, CA; and Monrovia, CA. For more information, please visit the Company's website at www.staar.com.
All statements in this press release that are not statements of historical fact are forward-looking statements, including any estimates of future revenues or revenue growth, any statements about the effect of new product approvals on our business, statements about planned product launches, any statements of belief and any statements of assumptions underlying any of the foregoing.
These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties include the following: the effect of poor global economic conditions on sales, especially sales of products like the ICL used in non-reimbursed elective procedures; our limited resources to promote new products; the risk that product launches may be affected by unplanned delays or be less successful than we expect; the risk that greater than expected demand for new products can result in backlog, the willingness of surgeons and patients to adopt a new product and procedure; the entrenched market position of laser-based procedures for many conditions treated by the Visian ICL; and patterns of Visian ICL use that have typically limited our penetration of the refractive surgery market. STAAR assumes no obligation to update its forward-looking statements to reflect future events or actual outcomes and does not intend to do so.
Douglas Sherk, 415-652-9100
Amy Phillips, 412-327-9499
Leigh Salvo, 415-568-9348
SOURCE STAAR Surgical Company