BIOLASE Announces Agreement With Henry Schein for the Purchase of the Remaining Inventory of Hard-Tissue Lasers, the Waterlas...
28 Febrero 2012 - 8:00AM
Marketwired
BIOLASE Technology, Inc. (NASDAQ: BLTI), the World's leading dental
laser manufacturer and distributor, today announced that it has
entered into an agreement with Henry Schein, Inc. (NASDAQ: HSIC),
subject to customary conditions to closing, for BIOLASE to
purchase, for an undisclosed price, approximately 180 Waterlase MD™
Turbo laser systems, the remaining inventory of such lasers held by
Schein. The Waterlase MD Turbo, first launched in 2006, has been as
of today the most successful hard- and all-tissue laser in the
history of dental lasers. The repurchased equipment is expected to
be used as a source of parts to service the large installed base of
approximately 6,500 Waterlase MD Turbo laser systems.
Schein will continue selling the top of the line BIOLASE iLase™
handheld laser system, launched in 2010, and will retain the
non-exclusive right to be a dealer of BIOLASE products in the U.S.
on the same prevailing terms and conditions of other strictly
selected dealers.
Federico Pignatelli, Chairman and CEO of BIOLASE, commented,
"This transaction is an advantageous one for both parties. For
BIOLASE, it removes remaining inventory from the market channel
while allowing BIOLASE to service with existing parts the large
installed base of Waterlase MD Turbo laser systems. The repurchase
also allows Schein to direct their resources in marketing the more
recent technologically advanced laser products, such as the BIOLASE
iLase laser system. We are looking forward to a positive and
constructive relationship with Schein as a non-exclusive
distributor in the U.S."
About BIOLASE Technology, Inc. BIOLASE
Technology, Inc., the World's leading Dental Laser Company, is a
medical technology company that develops, manufactures and markets
dental lasers and also distributes and markets dental imaging
equipment, products that are focused on technologies that advance
the practice of dentistry and medicine. The Company's laser
products incorporate 284 patented and patent pending technologies
designed to provide clinically superior performance with less pain
and faster recovery times. Its imaging products provide
cutting-edge technology at competitive prices to deliver the best
results for dentists and patients. BIOLASE's principal products are
dental laser systems that perform a broad range of dental
procedures, including cosmetic and complex surgical applications,
and a full line of dental imaging equipment. BIOLASE has sold more
than 19,000 lasers among 16,000 customers. Other products under
development address ophthalmology and other medical and consumer
markets.
For updates and information on laser and Waterlase dentistry,
find BIOLASE at http://www.biolase.com, Twitter at
http://twitter.com/GoWaterlase, and YouTube at
http://www.youtube.com/user/Rossca08.
This press release may contain forward-looking statements within
the meaning of safe harbor provided by the Securities Reform Act of
1995 that are based on the current expectations and estimates by
BIOLASE management. These forward-looking statements can be
identified through the use of words such as "anticipates,"
"expects," "intends," "plans," "believes," "seeks," "estimates,"
"may," "will," and variations of these words or similar
expressions. Forward-looking statements are based on management's
current, preliminary expectations and are subject to risks,
uncertainties and other factors which may cause the Company's
actual results to differ materially from the statements contained
herein, and are described in the Company's reports it files with
the Securities and Exchange Commission, including its annual and
quarterly reports. No undue reliance should be placed on
forward-looking statements. Such information is subject to change,
and BIOLASE undertakes no obligation to update such statements.
For further information, please contact: Jill Bertotti Allen
& Caron +1-949-474-4300
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