IRIDEX Corporation (NasdaqGM:IRIX) announced that its Board of Directors is undertaking, in consultation with its financial and legal advisors, a review and evaluation of strategic alternatives that may be available to the Company to unlock shareholder value. Iridex has engaged Piper Sandler Companies to act as financial advisor in connection with the strategic review process. ?Iridex is a worldwide leader in laser-based medical systems for the ophthalmology market, with proven platforms, systems and consumable technologies for the treatment of glaucoma and retinal diseases,?

said David Bruce, President and CEO. ?Our decades of commitment to innovation and quality engineering has earned Iridex a unique market position with thousands of physicians and facilities utilizing our products every day in more than 100 countries.? Scott Shuda, Chairman of the Board of Directors, commented on the strategic review process, ?As a public company, Iridex must always seek to maximize shareholder value.

Following COVID, this led us to reaffirm our market leadership position in retina via a transaction with Topcon Corporation and product-line integration of its PASCAL platform, while in glaucoma we advanced our clinical work with the international consensus panel in 2022 and the development of our next-level clinical trial expected to begin in 2023. Iridex?s sales revenue and product offerings are bigger and stronger than they have ever been, and the Board of Directors believes this is an appropriate time to explore strategic options for the future of each of our product lines.? There can be no assurance that the ongoing strategic review will result in Iridex entering into any transaction or that any transaction will be completed on attractive terms. Iridex has not set a timetable for completion of the strategic process and does not intend to disclose further developments unless and until it is determined that further disclosure is appropriate or necessary.