LAKE FOREST — Staar Surgical is leasing 34,616 square feet of office space near its Lake Forest headquarters.
The medical device maker in June signed a new lease for the first floor at 25510 Commercentre Drive, according to CoStar Group Inc. records.
The lease marks an expansion for Staar Surgical, whose current headquarters runs around 21,000 square feet.
It adds to the company’s growing local footprint, which includes a company-owned ophthalmology training facility that opened in 2022. The 1,500-square-foot EVO Experience Center trains surgeons on how to use its implantable eye lenses.
The company is set to move into the new building in November.
Staar Surgical, founded in 1982, originally relocated its headquarters from Monrovia to Lake Forest in 2019.
Q1 Results
Staar Surgical (Nasdaq: STAA) in May reported first-quarter revenue increased 5% to $77.4 million, topping the estimated $74.9 million.
“In the first quarter, Staar continued to capture market share during a challenging macroeconomic environment for our surgeon customers and their patients,” Chief Executive Tom Frinzi said in a statement.
Morgan Stanley analyst Patrick Wood on July 15 downgraded Staar Surgical to underweight from equal weight with a price target of $37, down from $50, projecting slower growth within the Chinese market, according to thefly.com.
The company currently counts a $1.9 billion valuation and estimates between $335 million to $340 million in revenue for the fiscal year. It’s scheduled to report second-quarter results Aug. 7.
