STAAR Surgical Company (STAA)

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STAAR Surgical Company (STAA)

ASCRS Symposium on Cataract and Refractive Surgery

April 22, 2013 10:30 AM ET


Barry Caldwell - President and CEO

Erik Mertens


Philippe Subrin


Barry Caldwell

Good morning. Let me welcome you to the STAAR Surgical ASCRS investor briefing breakfast. I’d like to also welcome audio audience that is with me. This will also be archived and available on the STAAR website, if you’d like to hear it at a later point in time.

Let me also remind you that there will be forward-looking statements made here today and I would guide you to look to our latest SEC filings to get full information and full disclosure on any matters that we'll be discussing.

Here is our agenda for today. We’ll first have introductions which we’ll do quickly. Dr. Erik Mertens will come up and he'll talk about the centraFLOW ICL in his practice. He will also talk about some of his initial reactions, thoughts about the Version 5 ICL. And we’ll also have in the audience someone who has had an enhanced optic, a custom device implanted six weeks ago or so, and he will offer his testimony on this enhanced optic which will be similar to that in the Version 5.

Then I’ll come back up at the end. We’ll update a little bit on the STAAR’s activities here at ASCRS, our new products and add a little bit more to our first quarter preannouncement on revenues and open it up for questions at the end.

The STAAR Surgical senior management team is here and I’ll just quickly introduce. I’ll start with Jim Francese, who is our Global Vice President of Marketing; Deborah Andrews who is our CFO; go further over is Paul Hambrick, who is our Vice President of Manufacturing. Behind Paul, Bill Goodman, our Vice President in Human Resources; next to him Craig Felberg, who is our Vice President Business Development; then Hans Blickensdoerfe, who is our President of Europe. Going across, Philippe Subrin who is our Vice President of Manufacturing in Switzerland; John Santos, next to him who is our Vice President of Regulatory and Quality; to his right Robin Hughes who is our Vice President of R&D and in the back of room, Don Todd who is our President of Asia Pacific; then in the very back to the right, Sam Gesten who is our General Council.

I did, yes, we do not have Ringo (ph) with us today. So let me start by introducing Dr. Mertens and first of all thank him very much for taking time out of his busy schedule here. As those who are here in attendance know it’s a very, very busy meeting, but it’s always good.

Dr. Mertens is Medical Director of his center in Belgium. He has also done LASIK and implants since 1992. He has implanted over a 1000 Visian ICLs, which about 50% have been Toric. He also has implanted a few other brands. So he has in total, implanted over 1500 phakic IOLs. A lot of memberships as you can see here, in terms of editorial boards, very well respected international editorial board he sit on for JCRS; also the editorial board for JRS.

He is the Chief Medical Editor for CRST and he has been very much involved in refractive technologies since 2005, working with multiple companies and multiple new technologies as they come to market.

So Erik, let me introduce you and bring you up.

Erik Mertens

Thank you Barry, for the introduction. Let me quickly switch to my presentation, okay. So, good morning everybody. Barry already introduced me in detail. I did my first phakic IOL implant in ’92. At that time it was the Iris Claw, better known as the Artisan or the Verisyse. And I switched in 2003 to the ICL and since then I am only using the ICL. I occasionally still use the Iris Claw but in aphakic eyes. So you don’t have any other options there and then I still use the Iris Claw that is two to three times a year. So this is just a niche for me.

Now, when you look at being in refractive practice you have of course a lot of options, can do laser, can do phakic IOL. And to correct presbyopia, you have, what options do you have? You have refractive lens exchange, implanting multifocal IOLs. You can go for corneal inlays or Supracor LASIK to correct it on the cornea. This not the topic for today, but this is what you all have in your portfolio when treating eyes.

And this is a very interesting slide. This is from 2007, but it doesn’t change much over the years. When we look at the distribution of hyperopia, myopia and so long the treatment performed is, you see that's about, with LASIK it's 4 to 5 diopters of myopia is the bulk between minus 1 and minus 7 and then it drops down. And a lot of eye surgeons only switch to other solutions around minus 9, minus 10 tier, and I will comment on that, on my own indications later on.

Now when doing surgery, the easier is the better. When you have to do complicated, many steps in surgery, give drops to your patients for months and months and months, that is not a good procedure. So it has to be simple. So KISS (ph) is my motto and I will explain what I mean with KISS (ph) later on.

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