STAAR Surgical Company (STAA) has two new products available on the market today both domestically and internationally for the cataract marketplace — the largest surgical market in ophthalmology — and the refractive market with a premium lens option, says Chris Cooley, Managing Director at Stephens Inc.
“What’s unique about STAAR is that you are seeing its core product, the Visian ICL, deliver unit growth in excess of 20% right now as the market starts to increasingly adopt lens-based options as opposed to laser or LASIK type choices for refractive surgery,” Cooley said. “The lens generates about an 80% margin to the company.”
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Cooley says STAA‘s COLLAMER product for cataracts has more benefits on the surgical side, leading to revenue growth acceleration.
“They have no debt, generating significant amount of cash, and on the cataract side, they have a premium lens material called COLLAMER, which is exclusive to STAAR, which gives you the benefits of both silicone and acrylic from the surgical side. So you get a premium lens outcome at quite frankly a base market price, and with that, this company is really starting to realize an acceleration in its top line, and its margin structure is improving,” Cooley said.
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