BIOLASE Completes Transaction With Henry Schein
16 Abril 2012 - 8:05AM
Marketwired
BIOLASE Technology, Inc. (NASDAQ: BLTI), the World's leading dental
laser manufacturer and distributor, today announced that it has
completed its purchase of 159 Waterlase MD™ Turbo laser systems
from Henry Schein, Inc. (NASDAQ: HSIC), fewer than the
approximately 180 laser systems estimated as outstanding by Schein
in February 2012 when the announcement of an agreement was made.
The Waterlase MD Turbo, first launched in 2006, has been the most
successful hard- and all-tissue laser in the history of dental
lasers with approximately 6,500 units sold worldwide. The purchased
equipment is expected to be used primarily as a source of parts to
service the large installed base of MD Turbo laser systems and for
dental schools to promote Waterlase technology even further into
the academic world.
The MD Turbos were purchased at a very advantageous price by
BIOLASE and the entire purchase price was paid by offsetting monies
currently due from Schein to BIOLASE from sales made as part of the
normal course of business mainly during the first quarter of 2012
and, to a much lesser extent, the year ended December 31, 2011.
None of the monies used to offset the purchase price were related
to the original sales of the MD Turbos being purchased.
Federico Pignatelli, Chairman and CEO of BIOLASE, commented,
"Closing this transaction is a very important step for BIOLASE as
it eliminates the overhang in the marketplace that equaled
approximately 440 units at the end of 2010 and significantly
impacted our sales in 2011, releases all liens on our patent and
intellectual properties portfolio and frees us of any present and
future obligations to Schein. It is also a very advantageous
transaction as the remaining inventory was purchased at a very
convenient price and will mainly be used as parts to service our
vast install base of MD Turbos."
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 285 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
Biolase (NASDAQ:BLTI)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Biolase (NASDAQ:BLTI)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024