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STAAR Surgical Company (STAA) Receives Approval to Market STAAR Visian™

STAAR Surgical Company, a leading developer, marketer and manufacturer announced the approval from the State Food and Drug Administration of the People’s Republic of China for the go ahead in the marketing of STAAR Visian™ Toric Implantable Collamar Lens to eye care professionals for the treatment of astigmatism and nearsightedness.

Barry G. Caldwell, President and CEO of STAAR Surgical noted, “This approval has significant strategic importance for STAAR and positions us for continued growth in China. The approval of both the Visian Toric ICL and the Visian Hyperopic ICL represents a solid endorsement of the STAAR technology. The Visian Myopic ICL was approved in China during July 2006 and has enjoyed significant growth. With these additional approvals, we are positioned to expand our presence in a market where the demographics are very favorable.”

In Addition to the approval for the Market STAAR Visian™, the SFDA granted approval to STAAR to market an implantable collamer lens (STAAR Visian ICH), to correct hyperopia and/or farsightedness.

There are over 500 million myopes and nearly 50 million hyperopes in China, according to Market Scope, making it one of the largest potential refractive markets in the world.

Mr. Caldwell added, “Our goal in China over time is to at least replicate the market penetration we are achieving in South Korea.” Japan’s January meeting data reveals that STAAR’s Visian ICL and TICL were used in about 60% of Lasik procedures.

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