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IRIDEX Announces Receipt Of Large Orders For Laser Systems From Developing Countries

Stocks in this article: IRIX

MOUNTAIN VIEW Calif., April 30, 2013 /PRNewswire/ -- IRIDEX Corporation (Nasdaq:IRIX) today announced that it has recently received two significant orders for its proprietary laser-based medical systems for the treatment of eye diseases. The orders, totaling more than $500,000, are indicative of the burgeoning growth of the ophthalmology market in the "BRIC" economies ( Brazil, Russia, India and China) as well as the advantages of modern laser treatments, noted Will Moore, President and CEO of IRIDEX.

"We believe that the growth in the market for lasers is being driven in large part by the rapid spread of diabetes and diabetes-related eye diseases in developing countries as well as the practicality of new laser treatments," Moore added.

"Diabetes is reaching epidemic proportions in many developing parts of the world, and with that comes the spread of diabetes-related eye diseases such as Diabetic Macular Edema, or DME," Moore said. "The health systems in many countries, because of logistics and cost, do not support the current drug treatment model for these diseases we see here in the US, which typically includes a regular series of drug injections in the eye.  These ongoing injections are neither practical in remote areas, nor are they cost-effective. Our laser-based medical systems are as effective as drugs in terms of outcomes, are much less costly to a healthcare system, and are much easier to administer from a logistics standpoint because they provide durable results."

Moore added that the advances in laser-based therapies are causing the beginnings of a paradigm shift in the U.S. and European ophthalmology markets, as well.

"We believe the treatment pendulum, which shifted from lasers to drugs for diseases like DME several years ago, is beginning to shift back to lasers thanks to the new advances in modern laser technology," Moore said.

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