IRVINE, CA--(Marketwire - November 08, 2011) - BIOLASE Technology, Inc. (NASDAQ: BLTI), the World’s leading dental laser manufacturer and distributor, announced today that it has received approval from the Korean Food and Drug Administration (“KFDA”) to sell its Waterlase iPlus™ all-tissue dental laser systems throughout South Korea. South Korea has an estimated 25,000 dentists and 16,000 dental clinics, and their progressive dental practitioners have been particularly prone to adopting high-tech dental equipment, including more than 1,000 practices that currently use one or more BIOLASE dental lasers.
Chairman and CEO Federico Pignatelli said, “The regulatory approval of the iPlus in Korea is a great accomplishment for the BIOLASE team and a major marketing milestone for the Company. The Korean market has historically been very receptive to laser and high-tech dentistry and specifically to BIOLASE products. In fact, the penetration rate of more than 6 percent exceeds that of any other country in the world, including the United States where BIOLASE has the strongest sales network of any other market. Our distribution partner in Korea has been the Company’s most successful international distributor for almost a decade -- placing more than 1,000 BIOLASE products, of which 80 percent are Waterlase’s and Waterlase MD’s. We believe that the level of interest in the new Waterlase iPlus is very high and that Korean dentists have been anticipating its availability for months.”
William Brown, Vice President International, added, “Our distributor, MJ DMT, based in Seoul, South Korea, is totally focused on BIOLASE products and is now taking orders and initiating an aggressive advertising and marketing campaign. The formal launch event will be held in Seoul on December 10, 2011, and will include a strong educational program and presentations from key Korean and international opinion leaders on the iPlus and our Er,Cr:YSGG technology.”
The revolutionary Waterlase iPlus, with its Intuitive Power Control, not only addresses the key functional needs for the next generation of laser dentists, but it also delivers double the power and cutting speed with unparalleled control and versatility for all laser dentist users, from the beginner to the expert. Performing most types of procedures with the new Waterlase iPlus provides minimal to no pain or discomfort, minimizes the need for local anesthetic in most restorative cases, eliminates the risk of bacterial and viral cross-contamination associated with conventional drills and burs, and results in preserving the tissue biologically intact, and without causing the damaging micro-fractures of the tooth structure and avoiding the necrosis caused by heat and abrasion.
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 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. 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 our 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 we undertake no obligation to update such statements.
For further information, please contact:
Jill Bertotti
Allen & Caron
+1-949-474-4300
