Staar Surgical Company (NASDAQ: STAA) has recently appointed Arthur Butcher and Wei Jiang to its board of directors, effective March 12, 2024. Butcher, currently serving as the Executive Vice President and Group President, MedSurg and Asia Pacific for Boston Scientific, brings extensive medical device marketing, strategy, and product development experience. Jiang, on the other hand, has more than 25 years of experience in the pharmaceutical and medical device industries, with a particular focus on China and the Asia/Pacific region.
Staar Surgical's board, with the addition of Butcher and Jiang, now comprises eight directors, seven of whom are independent non-employee directors. This board change follows the announcement that director K. Peony Yu, M.D., will not stand for re-election upon the expiration of her current term in June 2024.
Staar Surgical, dedicated solely to ophthalmic surgery for over 40 years, designs, develops, manufactures, and markets implantable lenses for the eye, aiming to provide visual freedom for patients and reduce reliance on glasses or contact lenses. The company's lenses are foldable, allowing surgeons to insert them through a small incision. The implantable lens used in refractive surgery is known as an implantable collamer® lens or "ICL," which includes the EVO ICL™ product line. Over 2,500,000 ICLs have been sold to date, and Staar markets these lenses in over 75 countries.
The company is headquartered in Lake Forest, CA, and operates manufacturing and packaging facilities in Aliso Viejo, CA, Monrovia, CA, and Nidau, Switzerland. Following these announcements, the company's shares moved -1.3%, and are now trading at a price of $38.26. For the full picture, make sure to review STAAR Surgical's 8-K report.
