Broadwood Partners Comments on STAAR Surgical Shareholders' Rejection of the Company's Proposed Sale to Alcon
Thanks Fellow Shareholders for Rejecting the Transaction
Reiterates Enthusiasm for the Company's Standalone Prospects
Looks Forward to Engaging with Board and Fellow Shareholders and Working Towards a Bright Future for STAAR
Broadwood Partners, L.P. and its affiliates ("Broadwood" or "we"), which together own 30.2% of the outstanding common stock of STAAR Surgical Company ("STAAR" or the "Company") (NASDAQ:STAA), commented on the results of the Special Meeting of Shareholders (the "Special Meeting") that was held earlier today in connection with the proposed acquisition of STAAR by Alcon Inc. ("Alcon") (NYSE:ALC). Based on preliminary results, shareholders voted decisively to reject the proposed transaction.
Neal C. Bradsher, Broadwood Founder and President, said:
"We thank our fellow shareholders for their attention during this process and for rejecting the proposed acquisition of STAAR by Alcon at today's Special Meeting. We appreciate that so many shareholders recognize the value of STAAR and share our enthusiasm for the Company's bright future.
It is now time to focus on the road ahead. 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. 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.
To that end, we are ready and willing to work collaboratively with the Board and our fellow shareholders to implement the necessary changes to enable effective oversight and execution on STAAR's opportunity to become a highly profitable and scaled enterprise.
STAAR now has a renewed opportunity to truly shine."
About Broadwood
Broadwood Partners, L.P. is managed by Broadwood Capital, Inc. Broadwood Capital is a private investment firm based in New York City. Neal Bradsher is the President of Broadwood Capital.
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