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Iridex Corporation (NASDAQ: IRIX) is a global leader in the development, manufacturing, and marketing of innovative and versatile laser-based medical systems and delivery devices. Founded in 1989, the company specializes in providing advanced medical solutions across multiple specialties, including ophthalmology, aesthetic medicine, and otolaryngology.
Iridex's core products include lasers, laser delivery devices, glaucoma devices, and retinal surgical instruments. The company's proprietary MicroPulse® technology offers a differentiated treatment that is both safe and effective for managing sight-threatening eye conditions. This technology powers many of its products, enhancing their clinical efficacy.
Operating primarily in the ophthalmology segment, Iridex derives its revenue from the sale of consoles, delivery devices, consumables, services, and support activities. The company has a significant presence in the United States, generating maximum revenue from this region, followed by Europe, the Americas excluding the U.S., and Asia/Pacific Rim.
Iridex's recent achievements include successful advocacy for the revision of Medicare Local Coverage Determinations (LCDs) for Cyclophotocoagulation (CPC), which broadened patient qualification criteria. This change aligns the criteria with recommendations from the 2001 American Academy of Ophthalmology paper, thereby expanding access to essential glaucoma treatments.
The company operates with a robust commitment to the success of its customers, offering comprehensive technical, clinical, and service support programs. Iridex products are distributed in over 100 countries, with sales managed through a direct sales force in the United States and a network of independent distributors globally.
Financially, Iridex has faced challenges such as reimbursement uncertainties and supply chain limitations, which impacted its revenue and gross margins. However, the company is actively pursuing strategic reviews to unlock shareholder value and remains focused on expanding its market reach and product offerings.
For more detailed information about Iridex Corporation, please visit their website at www.iridex.com.
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