Broadwood pledges cooperation with STAAR Surgical after Alcon deal vote

Broadwood Partners, which owns 30.2% of STAAR Surgical Company (NASDAQ: STAA), issued an open letter to the company's board pledging cooperation and support following an expected shareholder vote against the proposed acquisition by Alcon Inc. (NYSE: ALC).

The investment firm continues to urge shareholders to vote against the Alcon transaction at a special meeting scheduled for December 19, 2025. The meeting has been postponed three times since its original October date.

In the letter, Broadwood stated it believes STAAR is worth at least $50 per share if managed in shareholders' best interests. The firm cited normalizing inventories in China and new product launches as factors supporting this valuation target for next year.

Broadwood expressed confidence that shareholders will reject what it called an "ill-advised transaction," noting that several large shareholders, three proxy advisory firms, and at least one company director have expressed skepticism about the deal's process, timing, and price.

The firm indicated it would support management and board changes, stating that "the Company needs new leadership and several new directors that have the confidence of shareholders." Broadwood said it has received business plans and recommendations from industry sources on improving STAAR's operations.

Founded by Neal Bradsher, Broadwood has been a STAAR shareholder for over 30 years, providing both equity and debt capital to the company. The firm emphasized it does not seek control of STAAR and prefers a collaborative approach to implementing changes.

STAAR's stock previously reached $160 per share when the business was smaller than its current size, according to the letter.

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