- STAAR Surgical's Visian ICL(TM) Second Quarter Sales Increase by 38% as
Compared to Increased Second Quarter Declines in LASIK Procedures
-STAAR Surgical Announces New Consumer Website for Visian ICL
MONROVIA, Calif., July 14 /PRNewswire-FirstCall/ -- STAAR Surgical
Company (Nasdaq: STAA) announced today that its Visian ICL (Implantable
Collamer Lens), a tiny, flexible lens implanted in the eye to correct
refractive errors, continues to gain momentum with consumers in the U.S.
market. The Visian ICL is often referred to as the "implantable contact
lens" by patients and physicians. According to preliminary data from the
company, U.S. sales of the Visian ICL grew 38% over the prior year period.
During the second quarter this accelerating rate of Visian ICL growth
contrasts sharply with an even more significant decline in LASIK vision
correction procedures. According to a leading provider of LASIK vision
correction services, laser-based refractive procedures had an approximate
40% decline during the second quarter. STAAR Surgical today also announced
the launch of a newly revamped and enhanced website,
http://www.visianinfo.com, designed to help consumers more clearly
understand the benefits of the Visian ICL.
"Despite reports that consumer confidence and discretionary spending
are declining, an increasing number of refractive surgeons and their
patients seeking an alternative to LASIK for vision correction are opting
for the Visian ICL," said STAAR Surgical President and CEO Barry G.
Caldwell. "We believe that part of the reason why the Visian ICL sales
momentum in the U.S. is building has been the recent recommendation by a
U.S. Food and Drug Administration Ophthalmic Device Panel to make clearer
the risks associated with LASIK procedures. The recent media attention to
the complications of LASIK as reviewed by the Panel has led to more
patients asking more questions about the procedure and more seriously
considering alternative procedures like the Visian ICL."
Concurrently the Visian ICL has attained greater market visibility
through key opinion leaders among refractive surgeons. This is in part led
by an ongoing program initiated by STAAR Surgical to help a select but
growing group of surgeons understand and more fully utilize the technology
in their refractive practices.
The Visian ICL is inserted into the eye during a short out-patient
surgical procedure which can be performed in a surgeon's office. Insertion
requires an incision size about the size of the opening on a ballpoint pen
versus an incision size of over one inch required for LASIK in order to
create the flap opening in the eye. This flap created for LASIK may take as
long as 24 months to seal back into place in contrast to the quick healing
process of the very small Visian ICL incision. While LASIK or PRK
procedures permanently change the shape of the eye by using a laser to
remove tissue, the Visian ICL does not require any removal of tissue.
Though designed to remain permanently in the eye, it has the advantage that
it can be removed or replaced. Visian ICL patients reported a greater than
99 percent satisfaction rate in a five- year follow-up of participants in a
clinical study submitted to the FDA.
The number of consumer visits on the visianinfo.com web site has more
than doubled during the second quarter which has led to STAAR updating of
the site to make it more consumer friendly and informative regarding the
Visian ICL technology. Features of the newly renovated website include: a
highly interactive home page which guides the viewer through the site,
animated simulation of the benefits of High Definition Visian Vision, and
new testimonials including several celebrity patients. The site also
provides web content that will serve as a seamless extension of our
customer's websites. The site will be launched officially today Monday July
14th and can be accessed at: http://www.visianinfo.com.
In June, STAAR announced plans for a consumer awareness internet
campaign for the Visian ICL, based around surgeons' practices and to be
conducted via a new website, http://www.mybesteyes.com. Prospective Visian
ICL patients will be invited to submit a one-minute video on why they opted
for Visian versus other options, potentially including LASIK, earning them
the possibility of winning a no-charge procedure. Web sites for the
campaign are currently being developed for leading Visian ICL physicians
around the country and the local contests are expected to begin next month
at which time there will be an announcement of the contest rules. Finalists
from local practices will be entered in a national internet-based contest
in which the winning submission will be selected based on the most votes
from site visitors.
About STAAR Surgical
STAAR is a leader in the development, manufacture and marketing of
minimally invasive ophthalmic products employing proprietary technologies.
STAAR's products are used by ophthalmic surgeons and include the Visian
ICL, a tiny, flexible lens implanted to correct refractive errors, as well
as innovative products designed to improve patient outcomes for cataracts
and glaucoma. Manufactured in Switzerland by STAAR, the ICL is approved by
the FDA for use in treating myopia, has received CE Marking and is sold in
more than 40 countries. More information is available at
http://www.staar.com.
The contest for prospective Visian ICL patients will be administered
through participating local practices in the United States only. STAAR is
not soliciting and does not accept entries. After announcement see your
local participant for rules and entry information. The contest may not be
available in your region.
Second quarter U.S. ICL sales are based on preliminary quarterly
financial data, which may be subject to change when complete results are
announced.
Safe Harbor
All statements in this press release that are not statements of
historical fact are forward-looking statements, including any statements of
the plans, strategies, and objectives of management for future operations,
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 possibility that a decline in general economic
conditions will decrease U.S. demand for elective procedures and reduce ICL
sales, the possibility that negative publicity about complications of LASIK
could reduce demand for all refractive procedures, our limited capital
resources and limited access to financing, negative publicity resulting
from past correspondence with the FDA and the integrity hold placed on our
clinical activities, the challenge of managing foreign subsidiaries, the
willingness of surgeons and patients to adopt a new product and procedure
and other factors beyond our control, including those detailed from time to
time in our reports filed with the Securities and Exchange Commission.
There can be no assurance that the rate of growth in U.S. sales of Visian
ICL experienced in the year to date will continue. STAAR assumes no
obligation to update these forward-looking statements to reflect future
events or actual outcomes and does not intend to do so.
CONTACT: Investors Media
EVC Group EVC Group
Douglas Sherk, 415-896-6820 Chris Gale, 646-201-5431
Dahlia Bailey, 415-896-5862
SOURCE STAAR Surgical Company
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Related links:
http://www.staar.com
http://www.visianinfo.com
CONTACT:
Investors, Douglas Sherk, +1-415-896-6820, or
Dahlia Bailey, +1-415-896-5862, or Media, Chris Gale,
+1-646-201-5431, all of EVC Group, for STAAR Surgical Company
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