The Conversation (0)
Urges Board to Allow Shareholders to Have Their Final Say on This Ill-Conceived Transaction
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), today responded to the fourth postponement of STAAR's Special Meeting of Shareholders (the "Special Meeting") in connection with the proposed acquisition of STAAR by Alcon Inc. ("Alcon") (NYSE: ALC).
The Special Meeting, which was originally scheduled to be held on October 23, 2025, was adjourned in the face of then-pending rejection, rescheduled (following two subsequent postponements) to be held on December 19, 2025. And today seemingly in the face of yet another strong shareholder rebuke of the deal it was postponed yet again, until January 6, 2026.
Neal C. Bradsher, Broadwood Founder and President, said:
"STAAR has had more than four months to justify its ill-advised sale to Alcon. The Company and its would-be acquirer have sought to apply lipstick to this pig of a deal by conducting a performative go-shop process, issuing more than a dozen press releases, releasing multiple investor presentations pouring cold water on STAAR's own prospects – which remain bright – and making hundreds or thousands of phone calls to shareholders.
There has been ample time and opportunity for STAAR to tell its story and attempt to cajole shareholders into supporting this misbegotten transaction. Yet, several large shareholders, all three proxy advisory firms, and at least one of the Company's own directors have continued to express skepticism about the process, timing, and price of the proposed transaction. Nevertheless, the Special Meeting has been delayed for a fourth time. Another few weeks of advocacy and solicitation will not cure the defects of the deal.
Ultimately, the Board cannot avoid shareholder input forever. For our part, we stand ready to work with the Board and our fellow shareholders to ensure STAAR's bright future. In all events, shareholders should be permitted to have their final say on January 6. We urge shareholders to stand firm and vote ‘ AGAINST ' the proposed transaction, and we encourage the Board and Alcon to accept the outcome with humility."
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.
Certain Information Concerning the Participants
Special Meeting of Shareholders Originally Scheduled for October 23, 2025
Broadwood Partners, L.P., Broadwood Capital, Inc., Neal C. Bradsher, Richard T. LeBuhn, Natalie R. Capasso, Raymond A. Myers and Jason J. Martin (collectively, the "Participants") are participants in the solicitation of proxies from the shareholders of the Company in connection with the special meeting of shareholders originally scheduled for October 23, 2025 and most recently postponed to be held on January 6, 2026 (including any further adjournments, postponements, reschedulings or continuations thereof, the "Proposed Merger Special Meeting"). The Participants have filed a definitive proxy statement on Schedule 14A (the "Definitive Proxy Statement") and accompanying GREEN Proxy Card to be used in connection with any such solicitation of proxies from the Company's shareholders for the Proposed Merger Special Meeting. SHAREHOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE PARTICIPANTS HAVE FILED OR WILL FILE WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE "SEC") BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION, INCLUDING ABOUT THE MATTERS TO BE VOTED ON AT THE PROPOSED MERGER SPECIAL MEETING AND ADDITIONAL INFORMATION RELATING TO THE PARTICIPANTS AND THEIR DIRECT OR INDIRECT INTERESTS, BY SECURITY HOLDINGS OR OTHERWISE. The Definitive Proxy Statement and accompanying GREEN Proxy Card have been furnished to some or all of the Company's shareholders and will be, along with other relevant documents, available at no charge on the SEC's website at https://www.sec.gov/ .
Special Meeting of Shareholders to Remove Members of the Board
The Participants also intend to file a definitive proxy statement and an accompanying GREEN Proxy Card with the SEC to be used to solicit proxies with respect to removing members of the Board and any other proposals that may come before a future and yet to be called or otherwise scheduled special meeting of shareholders (including any adjournments, postponements, reschedulings or continuations thereof, the "Shareholder Meeting"). The Shareholder Meeting will be separate, distinct and unrelated to the Proposed Merger Special Meeting, and the Participants believe that the Shareholder Meeting will have no effect on the outcome of the Proposed Merger Special Meeting. The Participants do not believe that there is any lawful reason that would prevent or prohibit the Participants from calling the Shareholder Meeting, regardless of the outcome of the shareholder vote at the Proposed Merger Special Meeting, and do not make any representation related to whether the Company may contest, or otherwise challenge, the Participants' ability to call the Shareholder Meeting. SHAREHOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE PARTICIPANTS WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING ABOUT THE MATTERS TO BE VOTED ON AT THE SHAREHOLDER MEETING AND ADDITIONAL INFORMATION RELATING TO THE PARTICIPANTS AND THEIR DIRECT OR INDIRECT INTERESTS, BY SECURITY HOLDINGS OR OTHERWISE. The definitive proxy statement and an accompanying GREEN Proxy Card will be furnished to some or all of the Company's shareholders and will be, along with other relevant documents, available at no charge on the SEC's website at https://www.sec.gov/ .
Information about the Participants and a description of their direct or indirect interests, by security holdings or otherwise, is contained on an amendment to Schedule 13D filed by the Participants with the SEC on December 17, 2025, and is available here .
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Investor Contacts
John Ferguson / Joseph Mills
Saratoga Proxy Consulting LLC
jferguson@saratogaproxy.com
jmills@saratogaproxy.com
(212) 257-1311
(888) 368-0379
Media Contacts
Scott Deveau / Jeremy Jacobs
August Strategic Communications
Broadwood@AugustCo.com
(323) 892-5562
