IRIDEX Secures Large Ophthalmology Laser Equipment Tender to Supply Rural Chinese Regions

Economics and Logistics Challenges Drive Adoption of Durable, Laser-Based Treatments for Ophthalmologic Diseases

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Dec 02, 2014, 06:30 ET

MOUNTAIN VIEW, Calif., Dec. 2, 2014 /PRNewswire/ -- IRIDEX Corporation (Nasdaq:IRIX) announced today that its China distributor has been awarded a competitive tender for more than $620,000 in ophthalmology laser equipment to fulfill a government program designed to provide advanced ophthalmology solutions to patients across vast areas of China's rural regions.

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Will Moore, IRIDEX President and CEO, said, "In China, like all countries, diabetes and age-related eye diseases are rising at an alarming rate, causing varying degrees of blindness and an accompanying cost to the healthcare system and society. The Chinese government has developed a number of progressive strategies to provide advanced healthcare technologies in the rural areas of the country, including ophthalmic care. The logistics and cost of drug treatments is prohibitive in many of these regions. Alternatively, IRIDEX laser-based treatments 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 following a single treatment."

Moore added that the advances in laser-based therapies are also ushering in a paradigm shift in the U.S. and European ophthalmology markets, including diabetic macular edema (DME) and glaucoma treatments.

"The ability now to achieve durable results against the progression of DME and glaucoma without harming healthy tissue poses an attractive option for physicians and their patients facing the high costs and low compliance rates associated with drug-only approaches," Moore said.

About IRIDEX

IRIDEX Corporation was founded in 1989 and is a worldwide leader in developing, manufacturing, and marketing innovative and versatile laser-based medical systems, delivery devices and consumable instrumentation for the ophthalmology market. We maintain a deep commitment to the success of our customers, with comprehensive technical, clinical, and service support programs. IRIDEX is dedicated to a standard of excellence, offering superior technology for superior results. IRIDEX products are sold in the United States through a direct sales force and internationally through a combination of a direct sales force and a network of approximately 70 independent distributors into over 100 countries. For further information, visit the IRIDEX website at http://www.iridex.com/.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, including those statements concerning the markets in which the Company operates, trends in treatment and product usage, product plans and future product releases, demand for and adoption of the Company's products, and the Company's strategic plans and objectives. These statements are not guarantees of future performance and actual results may differ materially from those described in these forward-looking statements as a result of a number of factors. Please see a detailed description of these and other risks contained in our Annual Report on Form 10-K for the fiscal year ended December 28, 2013, which was filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and will not be updated.

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SOURCE IRIDEX Corporation