STAAR Surgical: Broadwood Raises Stake

Feb.18.07 | About: STAAR Surgical (STAA)

In an amended 13D filing on STAAR Surgical Co. (NASDAQ:STAA), Broadwood Partners disclosed a 9.4% stake (2.4 million shares) in the company. This is up from the 7.4% stake (1.87 million share) the firm disclosed in a past filing.

The firm said it has been and may continue to be in frequent contact with members of the company's management, members of the company's Board of Directors, other significant shareholders and others regarding a wide range of topic.

The firm also said, it continues to closely monitor the substantial and ongoing improvement in the company's business results that has followed its implementation of the governance reforms that they requested in their letter of April 8, 2005. Because the company's increasing revenue growth and improving margins have not yet been reflected in its stock price, the firm continues to oppose any proposed acquisition of the Issuer at a price that does not represent a very large premium to its current market values.