Broadwood Partners Comments on STAAR Surgical Shareholder Vote Against Alcon Acquisition

## STAAR Surgical Shareholders Reject Alcon Acquisition, Paving Way for Independent Growth

**NEW YORK** – STAAR Surgical Company’s proposed acquisition by Alcon Inc. has been decisively rejected by the company’s shareholders, according to preliminary results from a special meeting held earlier today. The outcome, driven significantly by the opposition of Broadwood Partners, L.P., the company’s largest shareholder holding a 30.2% stake, signals a clear mandate for STAAR to chart its own course.

Neal C. Bradsher, Founder and President of Broadwood Partners, expressed gratitude to fellow shareholders for their diligence in reviewing the transaction. “We appreciate that so many shareholders recognize the intrinsic value of STAAR and share our conviction in the company’s bright future as an independent entity,” Bradsher stated. “This decision allows STAAR to fully leverage its innovative technology and strong market position.”

The rejection marks a pivotal moment for STAAR Surgical, a leader in implantable collamer lenses for refractive error correction, most notably its EVO Visian ICL (Implantable Collamer Lens). The company has carved out a significant niche in the ophthalmology sector, appealing to a growing demographic seeking vision correction alternatives to LASIK and other procedures.

From a commercial standpoint, the standalone path for STAAR presents both opportunities and challenges. The company’s Visian ICL family of products has demonstrated strong growth, particularly in international markets, and its recent FDA approval for a wider range of myopia correction in the United States is a significant catalyst. However, realizing its full potential necessitates continued investment in research and development, expanding manufacturing capacity, and further market penetration. The company’s ability to scale production efficiently to meet burgeoning demand, while maintaining its premium pricing strategy, will be critical.

Technologically, STAAR’s core strength lies in its proprietary Collamer material, a biocompatible, collagen-based polymer that offers unique optical and physiological benefits. Its implantable lenses provide a level of visual acuity and performance that resonates with both patients and surgeons. The company’s ongoing efforts to refine its product offerings, including exploring new indications and enhancing surgical techniques, are vital to maintaining its competitive edge against established players and emerging technologies in the refractive surgery landscape.

Broadwood Partners, a New York-based investment firm, has been vocal about its belief in STAAR’s standalone value. The firm highlighted STAAR’s “leading technology, strong financial position, privileged position in large markets, and clear path to growth and profit margin expansion.” This perspective suggests a focus on operational efficiencies, strategic market expansion, and potentially a re-evaluation of capital allocation priorities to maximize shareholder returns.

“With its leading technology, strong financial position, privileged position in large markets, and clear path to growth and profit margin expansion in both the near term and the long term, STAAR’s future is bright,” Bradsher added. “As STAAR’s largest shareholder, we are confident in the Company’s standalone prospects and committed to helping STAAR realize its abundant potential for the benefit of all shareholders.”

Looking ahead, Broadwood expressed a willingness to collaborate with STAAR’s Board of Directors and other shareholders. The firm’s stated aim is to “implement the necessary changes to enable effective oversight and execution on STAAR’s opportunity to become a highly profitable and scaled enterprise.” This suggests a potential for active engagement in corporate governance and strategic direction, with the goal of unlocking what Broadwood perceives as untapped value within the company.

The rejection of the Alcon deal underscores the complex dynamics in the medtech M&A landscape, where strategic valuations, market synergies, and shareholder sentiment can converge to influence outcomes. For STAAR Surgical, this independent chapter opens a new phase focused on executing its growth strategy and solidifying its position as a key innovator in the vision correction market.