Staar Surgical has recently faced operational challenges, particularly in China. In its first-quarter earnings report this past May, the company reported a 45% year-over-year decline in net sales, dropping to $42.6 million from $77.4 million. The decline was attributed to a planned reduction of channel inventory in China. Outside of China, the company reported a 9% increase in net sales and expressed an expectation of resuming growth in the Chinese market in the third quarter of the year. In February, Staar appointed Stephen Farrell as CEO, replacing Tom Frinzi. The leadership transition occurred amid a workforce reduction that resulted in the layoff of approximately 115 employees. The following month, Staar restructured its executive leadership team, which included the departures of the company's chief financial officer and chief technology officer.