Staar Surgical Names New CEO

Staar Surgical Company has named Caren Mason president and CEO.

Mason, who was elected to Staar’s board of directors in June 2014, and was appointed by the board to chair the Quality and Regulatory Committee in September 2014, replaces Barry G. Caldwell who retired as of March 1. 

Mason joins Staar after most recently serving as CEO of, and then advisor to, Verinta Health, a provider of non-invasive prenatal genetic testing services combining ultra-high-throughput next-generation sequencing with proprietary applications. She led the company from clinical trial and clinical laboratory build status to the development of a complete corporate entity. Illumina acquired Verinata in a transaction valued at several hundred million dollars in February 2013.  Previously, she served as president and CEO of publicly traded Quidel Corporation between 2004 and 2009. During her tenure, Quidel was recognized as one of Forbes magazine’s Best 200 Small Companies in 2007 and 2008.

Prior to joining Quidel, Mason served as president and CEO for MiraMedica, a private, computer-aided detection mammography systems company, securing its strategic sale to Kodak Health Imaging.  She also served as CEO of eMed Technologies, general manager of the Women’s Healthcare business and as a general manager in various capacities for the Services business of GE Healthcare; held senior executive operating leadership positions with Bayer AG/AGFA and began her career in healthcare with American Hospital Supply/Baxter Healthcare.

“After completing with our outside consultant an extensive and exhaustive search for the next leader of our Company, we determined the ideal candidate was already a member of our team, and we are delighted that Caren has agreed to become our president and CEO,” said Mark Logan, chairman of Staar’s board.  “Throughout her career, Caren has demonstrated many of the key attributes the Search Committee of the board sought including a substantial track record of success at building profitable, global, scientifically driven medical technology businesses.  In addition, in her previous leadership positions, Caren has developed customer-centric cultures that drove commercial success while maintaining a strong focus on quality systems, regulatory affairs and compliance.  The Board has been impressed with her leadership and command of the issues since we asked her to lead the recently formed Quality & Regulatory Committee and we firmly believe she is the right person to lead Staar towards its full potential.”

“During the past nine months, I’ve had the opportunity to begin my education on the opportunities and challenges Staar faces,” said Mason. “Staar is in a unique and very promising position within the vision care industry.  The company’s proprietary implantable collamer lens provides an outstanding solution to the millions of patients worldwide suffering from myopia and myopia with astigmatism. And, despite more than 500,000 patients with ICL (Implantable Collamer lens implants), the global market opportunity for our ICL technology remains in its formative stages.  I am committed to ensuring that the work underway to remediate and rebuild Staar’s overall quality system is a strategic imperative and top priority for the company.  I look forward to working with the team to capitalize on our opportunities and successfully meet our challenges so that we can build returns for all of the company’s stakeholders.”  

In addition to being a director of Staar, Mason also is a director of HealthTell, an early stage life-sciences company.  She also currently serves on the executive committee for the UCSD Moores Cancer Center board of visitors and is chair of the UCSD Moores Cancer Center Advisory and Innovation Council.

Mason holds a Bachelor of Arts degree from Indiana University.

The company recently reported a loss of $2.5 million in its fourth quarter on revenue of $16.6 million in the period. For the year, the company reported a loss of $8.4 million, or 22 cents per share. Revenue was reported as $75 million. Staar Surgical shares have fallen 20 percent since the beginning of the year.

Staar Surgical makes implantable lenses for the eye and their related delivery systems. The lenses are foldable, which permits the surgeon to insert them through a small incision. STAAR’s lens used in refractive surgery as an alternative to LASIK is called an implantable collamer lens. A lens used to replace the natural lens after cataract surgery is called an intraocular lens, or IOL. The company has approximately 300 employees, is headquartered in Monrovia, Calif., with manufacturing facilities in Monrovia and Aliso Viejo, Calif.