LAKE FOREST, Calif. - STAAR Surgical Company (NASDAQ: STAA), a prominent developer and manufacturer of implantable lenses for eye surgery, has appointed Nancy Sabin as Chief Marketing Officer and Nathaniel Sisitsky as General Counsel. Both executives are joining the company's executive committee and will report directly to Tom Frinzi, the President and CEO of STAAR Surgical.
Nancy Sabin, with a 20-year background in various sectors including consumer products, OTC pharmaceuticals, and medical devices, arrives from Johnson & Johnson (J&J). At J&J, she held several senior marketing roles, including VP of Marketing for the ACUVUE contact lens business in the U.S. Sabin has also driven global marketing efforts for J&J's surgical vision products. She holds an MBA from the University of Pennsylvania's Wharton School and a BS in Engineering from Duke University.
Nathaniel Sisitsky comes to STAAR Surgical from NuVasive (NASDAQ:NUVA), Inc., where he served as Senior Vice President, General Counsel, and Corporate Secretary. His previous experience encompasses roles at CareFusion Corporation and American Tower (NYSE:AMT) Corporation, as well as a stint as a Junior Partner at Wilmer Cutler Pickering Hale and Dorr (WilmerHale). Sisitsky is a holder of a JD (NASDAQ:JD) from New York University School of Law and a BA from Emory University.
Tom Frinzi expressed his excitement about the new appointments, highlighting the importance of their roles in driving the company's growth and supporting the market for its EVO family of Implantable Collamer® Lenses (ICLs). The company also acknowledged the service of Sam Gesten, the former general counsel, who retired earlier this year after 12 years with STAAR Surgical.
STAAR Surgical has been dedicated to ophthalmic surgery for over four decades, specializing in implantable lenses that reduce or eliminate the need for glasses or contact lenses. The company's EVO ICL product line is part of its broader portfolio of lenses designed for eye surgery. STAAR Surgical operates globally, with more than 3 million ICLs sold and a presence in over 75 countries.
The information in this article is based on a press release statement from STAAR Surgical Company.
InvestingPro Insights
As STAAR Surgical Company (NASDAQ: STAA) welcomes new executives to its leadership team, the company's financial health and market performance remain pivotal for investors and stakeholders. STAAR Surgical's strategic appointments come at a time when the company is trading at a high earnings multiple, with a P/E ratio of 104.52, reflecting investor confidence in its growth prospects. This optimism is further supported by a robust gross profit margin of 78.36% over the last twelve months as of Q1 2023, showcasing the company's ability to translate sales into profits efficiently.
STAAR Surgical's balance sheet also presents a solid foundation, holding more cash than debt, which is a reassuring sign for investors looking for financial stability in their investments. Moreover, the company has demonstrated a strong return over the last three months, with a 60.14% price total return, signaling a positive market reception to its operational performance and future outlook.
InvestingPro Tips for STAAR Surgical indicate that analysts are optimistic about the company's future earnings, with two analysts having revised their earnings upwards for the upcoming period. This points to potential growth and profitability for the company, which is expected to be profitable this year. For investors seeking more in-depth analysis and additional InvestingPro Tips, they can explore the full suite of insights on STAAR Surgical at https://www.investing.com/pro/STAA. There are 11 more tips available on InvestingPro, providing a comprehensive overview of the company's financial health and market potential.
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