Visian® Toric ICL™ Approved to Market in Japan

MONROVIA, Calif., Nov. 29, 2011 /PRNewswire/ -- STAAR Surgical Company (Nasdaq: STAA), the leading developer, manufacturer and marketer of minimally invasive refractive lenses, today announced that its Visian Toric Implantable Collamer® Lens has been approved by the Japanese Ministry of Health, Labor and Welfare. With this approval, the Company is able to expand its product offerings to include the Toric ICL in Japan, potentially one of its most significant markets. The Visian ICL became the first phakic lens to gain approval in Japan during 2010.

"This is a very important milestone for STAAR and we have been working very closely with the Japanese regulators to win approval for our Toric ICL," said Don Todd, President of the Asia Pacific Region. "With the high rates of myopia and astigmatism in Japan, this approval opens up a significant market opportunity for the company. Clinical studies have demonstrated that the Toric ICL can provide a superior solution for patients with myopia and astigmatism. Astigmatism is blurred vision which is created when the eye is unable to properly focus due to its irregular shape. An often used analogy is that where the eye is typically shaped like a basketball, in those with astigmatism, the eye is shaped more like a football. Since our distribution in Japan is direct, our gross margin for the Toric ICL will be very high making this a very attractive market for STAAR. We expect to begin shipping immediately."

According to Market Scope, 2010 Comprehensive Report on The Global Refractive Surgery Market, Japan is the third largest market in the world with 375,000 procedures performed in 2010.

source: PR Newswire