STAAR Surgical Company (STAA): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the company behind those innovative implantable lenses that are revolutionizing vision correction? STAAR Surgical Company (STAA) has been dedicated to ophthalmic surgery for over 40 years, designing, developing, and manufacturing implantable lenses for the eye. With over 3 million ICLs sold across more than 75 countries, and net sales of $313.9 million in fiscal year 2024, what makes this company a leader in the industry, and how does it plan to sustain double-digit growth across global markets in 2025?

STAAR Surgical Company (STAA) History

STAAR Surgical Company Founding Timeline

Year established

The company was originally founded in 1982.

Original location

The original location of the company was in Monrovia, California.

Founding team members

The exact details of the founding team members are not readily available in the provided context. More detailed historical records would be needed to specify the individuals involved in the initial establishment of the company.

Initial capital/funding

Specific figures for the initial capital or funding are not available in the provided search results. Information on initial funding often requires access to historical financial documents or company archives.

STAAR Surgical Company Evolution Milestones

STAAR Surgical Company Transformative Moments

• Focus on Visian ICL: A transformative decision was the strategic refocusing on the Visian ICL product line. This shift allowed the company to concentrate its resources on a high-growth area, leading to significant revenue increases.
• Geographic Expansion: Expansion into key markets, particularly China, has been a transformative factor. The Visian ICL has seen substantial adoption in China, contributing significantly to overall sales and growth.
• Manufacturing Investments: The establishment and ongoing investment in the company's manufacturing facilities, particularly in Switzerland, have ensured high product quality and supply chain reliability.
• Technological Innovation: Continuous innovation in ICL technology, such as the development of the EVO Visian ICL, has helped maintain a competitive edge and meet evolving patient needs.

For more insights into the company's investors and their strategies, check out this article: Exploring STAAR Surgical Company (STAA) Investor Profile: Who’s Buying and Why?

STAAR Surgical Company (STAA) Ownership Structure

Understanding the ownership structure of STAAR Surgical Company provides valuable insights into its governance and strategic direction. A mix of institutional and individual investors currently owns the company.

STAAR Surgical's Current Status

STAAR Surgical is a public company, trading under the ticker symbol STAA on the NASDAQ stock exchange. This means that its shares are available for purchase by the general public, and the company is subject to regulations and reporting requirements set forth by the Securities and Exchange Commission (SEC).

STAAR Surgical's Ownership Breakdown

As of April 2025, the ownership of STAAR Surgical Company is distributed among various types of shareholders. The following table summarizes the approximate ownership percentages:

STAAR Surgical's Leadership

The leadership team at STAAR Surgical is responsible for the company's strategic direction and day-to-day operations. Key members of the leadership team as of April 2025 include:

• Tom Frinzi: President and CEO
• Deborah Andrews: Chief Financial Officer
• Samuel Masket, MD: Chairman of the Board

These individuals, along with other members of the executive team and board of directors, guide STAAR Surgical in its mission to develop and deliver innovative ophthalmic products. For more detailed insights into STAAR Surgical's investors, you might find this resource helpful: Exploring STAAR Surgical Company (STAA) Investor Profile: Who’s Buying and Why?

STAAR Surgical Company (STAA) Mission and Values

STAAR Surgical's mission is centered around visual freedom, aiming to provide patients with solutions that reduce or eliminate their dependence on glasses or contact lenses. The company values innovation, quality, and a commitment to improving patient outcomes.

STAAR Surgical's Core Purpose

Official mission statement

STAAR Surgical's mission statement is: 'To provide visual freedom to people around the world through innovative vision correction solutions.'

• STAAR Surgical aims to lead in the development, manufacturing, and marketing of premium ophthalmic surgical devices and intraocular lenses.
• The company focuses on providing innovative and effective solutions for refractive vision correction, primarily through its Visian ICL (Implantable Collamer Lens).
• STAAR Surgical is dedicated to improving the quality of life for patients by offering a safe and predictable alternative to traditional vision correction methods like LASIK.

Vision statement

While STAAR Surgical does not have a single, formally published vision statement, their actions and communications suggest a vision to be the premier provider of refractive vision correction solutions globally.

• STAAR Surgical aims to expand the availability and adoption of the Visian ICL as a primary choice for refractive surgery.
• The company envisions a future where more people can experience the benefits of visual freedom, with reduced reliance on glasses and contact lenses.
• STAAR Surgical focuses on continuous innovation and technological advancement in the field of refractive vision correction.

Company slogan/tagline

STAAR Surgical's tagline, 'Visual Freedom,' encapsulates the company's core promise and value proposition.

• The tagline emphasizes the transformative impact of STAAR Surgical's products on patients' lives, offering freedom from the inconvenience and limitations of glasses and contact lenses.
• 'Visual Freedom' serves as a concise and memorable representation of the company's commitment to improving vision and enhancing the overall quality of life.
• This slogan is consistently used in STAAR Surgical's marketing and communication efforts to reinforce its brand identity and mission.

To learn more about the investors of STAAR Surgical, check out this link: Exploring STAAR Surgical Company (STAA) Investor Profile: Who’s Buying and Why?

STAAR Surgical Company (STAA) How It Works

STAAR Surgical Company specializes in the development, manufacture, and marketing of implantable lenses for the eye, primarily targeting the refractive surgery market with its Visian ICL (Implantable Collamer Lens) product line.

STAAR Surgical Company's Product/Service Portfolio

STAAR Surgical Company's Operational Framework

STAAR Surgical operates through a focused business model centered on the manufacturing and distribution of its proprietary Visian ICL and related surgical products. Key aspects of their operational framework include:

• Manufacturing: STAAR Surgical manufactures its lenses in specialized facilities, ensuring high precision and quality control.
• Distribution: The company utilizes a direct sales force in key markets and partners with distributors in other regions to reach ophthalmologists and refractive surgeons globally.
• Surgeon Training and Support: STAAR Surgical provides training programs and ongoing support to surgeons to ensure proper implantation techniques and optimal patient outcomes.
• Marketing and Promotion: The company invests in marketing initiatives to raise awareness of the Visian ICL among potential patients and eye care professionals.

STAAR Surgical Company's Strategic Advantages

STAAR Surgical's success and competitive positioning are underpinned by several strategic advantages:

• Proprietary Technology: The Visian ICL is made from Collamer, a unique biocompatible material exclusive to STAAR Surgical, which reduces the risk of inflammation and enhances comfort.
• Clinical Results: Extensive clinical studies support the safety and effectiveness of the Visian ICL, demonstrating high levels of patient satisfaction and visual outcomes.
• Market Focus: STAAR Surgical focuses specifically on the refractive surgery market, allowing it to develop specialized expertise and tailored solutions.
• Global Presence: With a presence in numerous countries, STAAR Surgical benefits from a diversified revenue stream and exposure to different market dynamics.

To gain more insights into the investors and ownership driving STAAR Surgical's strategies, explore Exploring STAAR Surgical Company (STAA) Investor Profile: Who’s Buying and Why?

STAAR Surgical Company (STAA) How It Makes Money

STAAR Surgical Company primarily generates revenue through the development, manufacture, and sale of implantable lenses for the eye, particularly its Visian ICL (Implantable Collamer Lens) products designed to correct myopia, hyperopia, and astigmatism.

STAAR Surgical Company's Revenue Breakdown

STAAR Surgical Company's Business Economics

STAAR Surgical's business economics are characterized by premium pricing strategies, a focus on high-growth markets, and strong relationships with ophthalmic surgeons. Key aspects include:

• Premium Pricing: STAAR Surgical positions its Visian ICL as a premium alternative to LASIK, commanding higher prices due to its perceived benefits, such as reversibility and preservation of corneal integrity.
• Market Expansion: A significant portion of STAAR Surgical's growth strategy involves expanding into high-growth markets, particularly in Asia, where there is a high prevalence of myopia and increasing demand for refractive surgery.
• Surgeon Relationships: The company fosters strong relationships with ophthalmic surgeons, who play a crucial role in recommending and implanting Visian ICLs. Training and support programs are essential components of this strategy.
• Manufacturing and Supply Chain: Efficient manufacturing processes and a reliable supply chain are vital to maintaining profitability and meeting growing demand.

STAAR Surgical Company's Financial Performance

STAAR Surgical's financial performance is marked by revenue growth, improving profitability, and strategic investments in research and development. Highlights include:

• Revenue Growth: The company has demonstrated consistent revenue growth, driven primarily by increased ICL sales. For example, in 2023, STAAR Surgical reported record revenue of $386.6 million, a 27% increase compared to 2022.
• Gross Margin: STAAR Surgical maintains a strong gross margin, reflecting its premium pricing and efficient operations. The gross margin for 2023 was 77.6%.
• Operating Expenses: The company strategically manages operating expenses, including selling, general, and administrative (SG&A) and research and development (R&D) costs. In 2023, SG&A expenses were $143.4 million, and R&D expenses were $33.5 million.
• Net Income: STAAR Surgical has shown improvement in net income, reflecting its revenue growth and margin expansion. The net income for 2023 was $40.9 million, or $0.79 per diluted share.
• Cash Position: A healthy cash position enables STAAR Surgical to invest in future growth opportunities and manage its operations effectively. As of December 31, 2023, cash and investments totaled $269.7 million.

To gain more insights into the investors profile, check this out: Exploring STAAR Surgical Company (STAA) Investor Profile: Who’s Buying and Why?

STAAR Surgical Company (STAA) Market Position & Future Outlook

The company holds a significant position in the global refractive surgery market, primarily due to its Visian ICL™ (Implantable Collamer Lens) products. The company aims to expand its market share and drive future growth through strategic initiatives and capitalizing on market opportunities. For more information, see Exploring STAAR Surgical Company (STAA) Investor Profile: Who’s Buying and Why?.

Competitive Landscape

Opportunities & Challenges

Industry Position

• The company is a leading player in the global refractive surgery market, particularly known for its Visian ICL products.
• It focuses on the premium segment of the market, targeting patients seeking advanced vision correction solutions.
• The company differentiates itself through its proprietary Collamer material and unique lens designs, which offer advantages over traditional LASIK surgery.
• The company invests heavily in research and development to enhance its product offerings and maintain its competitive edge.