Filing Details

(b), (c) Broadwood Capital is an investment adviser registered with the Securities and Exchange Commission that is principally engaged in the business of providing investment advisory services. Broadwood Partners is a pooled investment vehicle that is principally engaged in the business of investing its assets in securities. Broadwood Capital serves as the general partner of Broadwood Partners. Neal Bradsher is the President of Broadwood Capital. The principal business address of the Reporting Persons is: c/o Broadwood Capital, Inc., 156 West 56th Street, 3rd Floor, New York, New York 10019.

None of the Reporting Persons have, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

None of the Reporting Persons have, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

The funds for the purchase of the 11,953,198 Shares beneficially owned by Broadwood Partners came from its working capital. No borrowed funds were used to purchase the Shares, other than any borrowed funds used for working capital purposes in the ordinary course of business. The funds for the purchase of the 11,953,198 Shares beneficially owned by Broadwood Capital came from the working capital of Broadwood Partners, which is the direct owner of the Shares. No borrowed funds were used to purchase the Shares, other than any borrowed funds used for working capital purposes in the ordinary course of business. The funds for the purchase of the 11,979,098 Shares beneficially owned by Mr. Bradsher came from his personal funds and the working capital of Broadwood Partners. No borrowed funds were used to purchase the Shares, other than any borrowed funds used for working capital purposes in the ordinary course of business.

The Reporting Persons acquired their Shares for investment purposes in a series of transactions beginning in 1994 and are filing this Schedule 13D/A to report a change in their respective beneficial ownership percentages. Since the Reporting Persons' thirty-first Schedule 13D Amendment filing in January 2024, the Issuer's stock price has fallen considerably. This decline took place amid macroeconomic headwinds that pressured the global refractive surgery market and operational missteps that hindered the Issuer's business progress. As a result, the Reporting Persons believe that the Issuer's valuation has fallen to a level that does not reflect the advantages of the Issuer's proprietary technology, nor the technology's potential to transform the refractive surgery market and address the global myopia epidemic. The Issuer's valuation also does not appear to reflect the potential for the Issuer's business to enter a period of accelerating revenue growth and expanding profit margins as macroeconomic headwinds abate and as the Issuer addresses its operational missteps. Despite these recent challenges and missteps, the Reporting Persons believe that the Issuer has continued to increase its share of the global market for refractive surgery and make progress toward realizing its substantial long-term growth opportunity. The Reporting Persons have significantly increased their position in the Issuer's Shares since late 2022, including over the last few months. As was the case during similar periods in the past, the Reporting Persons would oppose any proposed acquisition of the Issuer at a price that did not represent a very large premium to its current market value, because such a price would not, in the Reporting Persons' opinion, reflect the Issuer's long-term value. The Reporting Persons believe that the Issuer's new CEO will help the Issuer to realize its substantial long-term global growth opportunity and improve its profitability. The Reporting Persons are impressed with the new CEO's operational experience and history of successfully and profitably growing global businesses. In addition, the Reporting Persons remain attentive to the importance of corporate governance matters and shareholder alignment, and believe that shareholder-oriented corporate governance made a substantial contribution to the Issuer's overall progress in the period from 2015 to 2022. The Reporting Persons have welcomed recent improvements in corporate governance, many of which have resulted from a dialogue between shareholders and the Issuer's board of directors (the "Board"). In particular, the Reporting Persons support the Board's recent decision to restore the separation of the roles of CEO and Board Chair, as well as the appointments of directors with an understanding of shareholder alignment and a deep understanding of the global medical device industry, particularly in Asia (from which approximately 80% of the Issuer's revenue is derived). The Reporting Persons intend to remain in dialogue from time to time with members of the Board and other shareholders about improvements to the Issuer's corporate governance and shareholder alignment, and strategies for long-term shareholder value creation. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer's financial position, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may take such actions with respect to their investment in the Issuer as they deem appropriate. In that regard, the Reporting Persons have been and may continue to be in contact with members of the Issuer's management, Board, other significant shareholders and others regarding alternatives that the Issuer could employ to create significant additional shareholder value over time. Except as otherwise set forth herein, the Reporting Persons do not have any present plans or proposals which would relate to, or result in, the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D. However, subject to market conditions and in compliance with applicable securities laws, the Reporting Persons reserve the right, at a later date, to effect one or more of such changes or transactions in the number of Shares they may be deemed to beneficially own in open-market or privately negotiated transactions, on such terms and at such times as the Reporting Persons may deem advisable.

(a)-(d) As of the date hereof, Broadwood Partners may be deemed to be the beneficial owner of 11,953,198 Shares, constituting 24.2% of the Shares, based upon 49,325,372 Shares outstanding as of the date hereof. Broadwood Partners has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 11,953,198 Shares. Broadwood Partners has sole power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct the disposition 11,953,198 Shares. As of the date hereof, Broadwood Capital may be deemed to be the beneficial owner of 11,953,198 Shares, constituting 24.2% of the Shares, based upon 49,325,372 Shares outstanding as of the date hereof. Broadwood Capital has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 11,953,198 Shares. Broadwood Capital has sole power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct the disposition 11,953,198 Shares. As of the date hereof, Mr. Bradsher may be deemed to be the beneficial owner of 11,979,098 Shares, constituting 24.3% of the Shares, based upon 49,325,372 Shares outstanding as of the date hereof. Mr. Bradsher has the sole power to vote or direct the vote of 25,900 Shares and the shared power to vote or direct the vote of 11,953,198 Shares. Mr. Bradsher has sole power to dispose or direct the disposition of 25,900 Shares and the shared power to dispose or direct the disposition 11,953,198 Shares. The transactions in the Shares by the Reporting Persons during the past sixty days are set forth on Exhibit B.

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The information set forth in Item 4 above is incorporated by reference in its entirety in this Item 6. The Reporting Persons do not have any contract, arrangement, understanding or relationship with any person with respect to securities of the Issuer that is not described herein and/or in a previous Schedule 13D filed by the Reporting Persons in respect of the Issuer.

Exhibit A: Joint Filing Agreement Exhibit B: Schedule of Transactions in the Shares