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Staar Surgical Urged to Sell China Unit: Reuters

Investor says spinoff could be worth $5B

Staar Surgical Co. (Nasdaq: STAA), a Lake Forest-based maker of implantable eye lenses, should sell its China unit, according to a letter from an investor, Reuters reported.

Anatole Investment Management, a Hong Kong-based investment firm, argued in a letter to the company that the stand-alone China business, which represents about 80% of Staar’s revenue, could be worth as much as $5 billion. Anatole, which owns roughly 4.2% of Staar, said it’s undervalued and not reaching its “huge growth potential,” Reuters reported.

The shares, which have fallen nearly 50% since February, climbed 2.1% to $41.82 and a $2 billion market cap in today’s trading.

A Staar spokesman told Reuters that the company has responded to Anatole’s letter, saying the company is “open-minded” on how to maximize value for shareholders.

Staar is scheduled to report third-quarter results on Nov. 1 after the market closes.

 

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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