Broadwood Partners Plans to Vote Against Staar Sale to Alcon

By Josh Beckerman

Broadwood Partners, which owns 27.3% of Staar Surgical, said it intends to vote against the lens company's sale to Alcon, citing issues related to the sale process and its belief in Staar's growth potential.

Broadwood said Tuesday that Staar didn't pursue an adequate sale process and there was "intransigence with respect to the process regarding Broadwood's books and records demand."

Staar said the deal provides "compelling, premium cash value," including a 51% premium to its Aug. 4 closing price.

"We believe the $28-per-share cash value provided by the Alcon agreement exceeds what STAAR could achieve on a standalone basis in the foreseeable future, particularly given STAAR's lower growth rate and the resulting impact on its valuation, and the substantial competitive and macro challenges in the markets STAAR serves," the company said.

"STAAR is heavily exposed to China, which faces significant economic uncertainty and where sales trends have been declining despite actions taken by the company," Staar said. The Alcon deal includes provisions that are highly favorable to Staar stockholders and were extensively negotiated, it said.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

September 02, 2025 19:07 ET (23:07 GMT)