Company Is Building Direct Refractive Sales Force, Retaining Cataract Sales
Force and Lowering Operating Costs
MONROVIA, Calif., Sept. 19 /PRNewswire-FirstCall/ -- STAAR Surgical Company (Nasdaq: STAA) today reported progress in its deployment of a direct U.S. sales force dedicated to selling the Company's Visian(TM) Implantable Collamer(R) Lens (ICL(TM)) and in the retention of key sales representatives for its cataract products. In addition, the Company has taken actions expected to yield annualized cost savings of approximately $1.5 million in its U.S. operations and is actively studying additional strategies to further reduce operating costs.
"In early August we outlined our strategy to create a separate direct refractive sales team in the U.S. for our Visian ICL comprised of proctoring specialists and practice development specialists led by regionally based refractive sales managers. To date, we have successfully recruited a seasoned staff of 15 people out of our total target group of 18," said David Bailey, President and CEO of STAAR Surgical.
"In addition, we modified the structure of our cataract sales force in
the U.S., moving to a more focused effort led by three regional managers,"
continued Mr. Bailey. "This newly aligned cataract sales team consists of
both direct and independent salespeople. We are especially pleased that in
the two regions previously managed under the Company's recently expired
Regional Manufacturer's Representative contracts, a majority of the
targeted independent territory representatives have agreed to stay with
STAAR. This is a significant step in maintaining continuity and quality
service for STAAR's current U.S. cataract customer base while we
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