BIOLASE reveals initiatives to expand laser products
BIOLASE Chief Executive Officer David M. Mulder said, “During the last six months, we have been leading the Company in a new direction. We streamlined operations which reduced operating costs and improved margins, moved to a distribution model internationally that eliminated direct infrastructure costs which accounted for over $4 million a year in losses, restructured our agreement with Henry Schein and, together with Henry Schein, we continue to develop new approaches to making lasers a solid day-to-day dentistry tool. The results of these efforts, not only by ourselves, but with our partners, helped us achieve the results as reported for the second quarter. We are very grateful to all those who joined in this effort, especially Henry Schein.”
Mulder continued, “Nonetheless, despite some potential seasonal variations in future quarterly revenues, our goal of keeping cash flow positive at minimum purchase levels continues. We believe that the foundation of minimum purchases, $4 million in ongoing R&D expenditures, and a driving focus on commercializing our intellectual property have combined to allow us to move forward on a number of initiatives, some of which have been publicly disclosed. Along with our ongoing mission of making lasers an every day tool in dentistry, these initiatives fit with our long term strategy of leveraging our brands in dental and leveraging our technology in non-dental areas.”
Some of the initiatives under review and consideration include:
- Pain Management – The Company is currently fine-tuning its approach on entering this market, after the recently announced 510k clearance from the U.S. Food and Drug Administration FDA to market its ezlase diode laser system for therapeutic applications, including temporary pain relief. Initial sales into new channels could begin as early as the fourth quarter of 2009.
- Ophthalmology – The Company has been reviewing specific new applications in this field with its lasers that other lasers are not capable of duplicating. Development efforts could bring a product to market as early as mid-2010, and the Company is actively seeking partners to assist in both development and distribution.
- Light Based Oral Care Devices including toothbrushes – The Company continues to see opportunity in both the professional field which it retains rights to and the consumer field. The Company is currently in direct discussions and negotiations with Procter & Gamble P&G regarding specific plans on moving ahead.
- North Asia Expansion – The Company has been notified that it should shortly receive registration for the Waterlase MD in China, and distribution channels have already been planned.
Mulder concluded, “Over the past six months, we have cleared away a significant number of past challenges and we believe we are now leaner, stronger, cash flow positive, closer to our partners, and poised with momentum. With a foundation of recent growth, we are today inspiring our team members and partners to tackle a challenging set of opportunities for the future.”
About BIOLASE Technology, Inc.
BIOLASE Technology, Inc. http://www.biolase.com, the world’s leading dental laser company, develops, manufactures and markets Waterlase technology and lasers and related products that advance the practice of dentistry and medicine. The Company’s products incorporate patented and patent pending technologies designed to provide clinically superior performance with reduced pain, faster and biological recovery times. BIOLASE’s principal products are dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications. Other products under development address ophthalmology, pain management and other medical and consumer markets.
Read full press release via BIOLASE
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