Company: STAA
Filing Date: 2025-03-03
Form Type: SCHEDULE 13D/A
Source: 0000919574-25-001760
Chunk: 0

Company: STAAR SURGICAL CO
Filing Date: 2025-03-03
Form: SCHEDULE 13D/A
Chunk 0
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 macroeconomic headwinds that pressured the global refractive surgery market and operational missteps that hindered the Issuer's business progress.  As a result, the Reporting Persons believe that the Issuer's valuation has fallen to a level that does not reflect the advantages of the Issuer's proprietary technology, nor the technology's potential to transform the refractive surgery market and address the global myopia epidemic.  The Issuer's valuation also does not appear to reflect the potential for the Issuer's business to enter a period of accelerating revenue growth and expanding profit margins as macroeconomic headwinds abate and as the Issuer addresses its operational missteps.  Despite these recent challenges and missteps, the Reporting Persons believe that the Issuer has continued to increase its share of the global market for refractive surgery and make progress toward realizing its substantial long-term growth opportunity.  The Reporting Persons have significantly increased their position in the Issuer's Shares since late 2022, including over the last few months.  As was the case during similar periods in the past, the Reporting Persons would oppose any proposed acquisition of the Issuer at a price that did not represent a very large premium to its current market value, because such a price would not, in the Reporting Persons' opinion, reflect the Issuer's long-term value. 
 The Reporting Persons believe that the Issuer's new CEO will help the Issuer to realize its substantial long-term global growth opportunity and improve its profitability.  The Reporting Persons are impressed with the new CEO's operational experience and history of successfully and profitably growing global businesses.  In addition, the Reporting Persons remain attentive to the importance of corporate governance matters and shareholder alignment, and believe that shareholder-oriented corporate governance made a substantial contribution to the Issuer's overall progress in the period from 2015 to 2022.  The Reporting Persons have welcomed recent improvements in corporate governance, many of which have resulted from a dialogue between shareholders and the Issuer's board of directors (the "Board").  In particular, the Reporting Persons support the Board's recent decision to restore the separation of the roles of CEO and Board Chair, as well as the appointments of directors with an understanding of shareholder alignment and a deep understanding of the global medical device industry, particularly in Asia (from which approximately 80% of the Issuer's revenue is derived).  The Reporting Persons intend to remain in dialogue from time to time with members of the Board and other shareholders about improvements to the Issuer's corporate governance and shareholder alignment, and strategies