UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
September 27, 2011
Date of Report (Date of earliest event reported)
BIOLASE TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
Delaware | 000-19627 | 87-0442441 | ||
(State of Incorporation) | (Commission File Number) |
(IRS Employer Identification Number) |
4 Cromwell
Irvine, California 92618
(Address of principal executive offices) (Zip Code)
(949) 361-1200
(Registrants telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01 Regulation FD Disclosure.
On September 27, 2011, Federico Pignatelli, Chairman and Chief Executive Officer of Biolase Technology, Inc. (the Company) will deliver a presentation at the Sixth Annual JMP Securities Healthcare Conference that will include a written communication comprised of slides. The slides from the presentation are attached hereto as Exhibit 99.1, and are hereby incorporated by reference.
A copy of the slides will be available for viewing and download at http://www.biolase.com/investors for a period of 30 days.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 | Presentation material from the Sixth Annual JMP Securities Healthcare Conference, dated September 27, 2011. |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BIOLASE TECHNOLOGY, INC. | ||||
Date: September 27, 2011 | By: | /s/ Federico Pignatelli | ||
Federico Pignatelli | ||||
Chairman and Chief Executive Officer |
3
Exhibit Index
Exhibit |
Description | |
99.1 | Presentation material from the Sixth Annual JMP Securities Healthcare Conference, dated September 27, 2011. |
4
![]() BIOLASE
Technology, Inc. Federico Pignatelli, CEO
NASDAQ: BLTI
www.biolase.com
JMP Securities Healthcare Conference
September 27-28, 2011, New York
Exhibit 99.1 |
![]() Safe
Harbor Statement PAGE
2
This presentation may contain forward-looking statements that are based on our
current expectations, estimates and projections about our industry as well as
managements beliefs and assumptions. Words such as anticipates,
expects, intends, plans,
believes, seeks, estimates, may, will, and variations of these words or similar
expressions are intended to identify forward-looking statements. These statements
include projections about our future earnings and margins and speak only as of
the date hereof. Such statements are based upon the information available to us
now and are subject to change. We will not necessarily inform you of such changes.
These statements are not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict. Therefore
our actual results could differ materially and adversely from those expressed in
any forward-looking statements as a result of various factors. The important factors which
could cause actual results to differ materially from those in the forward-looking
statements include, among others, a downturn or leveling off of demand for our
products due to the availability and pricing of competing products and
technologies, adverse international market or political conditions, a domestic economic
recession, the volume and pricing of product sales, our ability to control
costs, intellectual property disputes, the effects of natural disasters and
other events beyond our control and other factors including those detailed in BIOLASEs filings with the
Securities and Exchange Commission including its prior filings on Form 10-K and
10-Q. |
![]() BIOLASE
is revolutionizing surgery by breaking the limitations of conventional dentistry and
medicine.
PAGE 3
New management is transforming BIOLASE from a one product, one segment company of the
past to a multi-product
and
multi-segment
platform
company
that
will
be
better
diversified
in
2012
and
beyond
and
better
positioned
for
substantial
growth
compared
to
the
old
BIOLASE.
In
2011,
BIOLASE
has
better
positioned itself
product-wise
due
to
the
release
of
its
revolutionary
all-tissue
WaterLase
iPlus,
which
now
equals
the
speed
of
a
dental
drill;
the
iLase,
the
first
battery
operated
handheld
diode
laser;
and
the
introduction
of
a
full
line
of
digital
imaging
devices.
BIOLASE
is
expecting
to
launch
several
new
and
cutting
edge laser products in 2012.
BIOLASE is NOT Just Another Medical
Equipment Company! |
![]() Traditional Dentistry
The painting Cavadenti, the Tooth Puller, by Caravaggio, circa 1608
PAGE 4 |
![]() Years
of engineering and research at BIOLASE led to the discovery that the Er,Cr:YSGG (2796nm) laser
crystal (Erbium, Chromium doped Yttrium-Scandium-Gallium-Garnet) has the highest level of absorption in water molecules
contained in human tissue. This absorption creates an expansion and vaporization
of the water molecules causing a biological ablation of human
tissue including teeth, dentin, bone, gum, skin and the eye).
For example, tooth enamel contains up to 5% water, dentin and bone contain up to 25% water,
soft tissue (gum tissue and skin) contains up to 80% water, and the eye contains up to
90% water. PAGE 5
Conventional Surgical Devices include the scalpel, high speed drill,
electrosurge, electric bone saws, and heat generating lasers.
How has BIOLASE Revolutionized Surgery?
through the science of
WaterLase! |
![]() Why
BIOLASE WaterLase Technology in Dentistry?
Traditional
high-speed
drills
work
by
FRICTION
which
creates
HEAT
which
causes
PAIN.
This
PAIN
necessitates
injections
of
ANESTHESIA
which
results
in
PAIN
and
NUMB
LIPS.
In
addition, the lack of feeling from the numbing injections can lead to THERMAL DAMAGE
which can lead to PULPAL DEATH and result in a ROOT CANAL.
The
traditional
high-speed
drill
also
causes
VIBRATION,
which
causes
PAIN
and
leads
to
MICROFRACTURES. These MICROFRACTURES allow BACTERIA to penetrate the tooth
which causes further DECAY and the FRACTURING of teeth.
High
speed
drills
also
require
the
use
of
BURS
which
even
after
autoclaving
have a 15% chance of carrying pathogenic micro-organisms. Needles
and files can also carry bacteria. That means in traditional dentistry the
patient has a 1 in 6 chance of cross contamination.
WaterLase energy
does not create heat or vibration so there is NO PAIN. Further, the
WaterLase is bactericidal, antiviral and essentially eliminates the risk of cross
contamination. PAGE 6 |
![]() Alternative
and
Advanced
Hi-Tech
Dentistry
Atraumatic Pediatric Tooth Extraction
The aiming beam on
the NEW WaterLase
iPlus is green. This
red beam featured in
the previous
generation of
WaterLase products
does not cut the
tissue. Tissue is cut
biologically, with
water at the
molecular level.
Using BIOLASE WaterLase Systems, including our new WaterLase iPlus System:
PAGE 7
The iPlus features an
intuitive, touch-based
computer screen,
similar to a tablet
personal computer.
It is designed to
allow for remote
servicing and
software upgrades. |
![]() WaterLase High Speed Cutting
PAGE 8 |
![]() WaterLase vs. Drill
PAGE 9 |
![]() Alternative
Dentistry
is
Less
Frightening
There
are
160,000
dentists
currently
serving
a
population
of
300
million
Americans which means that 75 million Americans are avoiding dental care
because
of
fear.
This
equates
to
an
average
of
470
patients
per
dentist!
Patients spend about $1,000 per year on dental care, meaning that U.S.
dentists are missing out on an average of $470,000 of potential revenue,
every year. If a dentist that adopts painless WaterLase Technology realizes
only half of this potential, they could earn an additional $235,000 in annual
revenue by just
serving fearful patients.
PAGE 10
Using
the
dental
drill
offers
more
of
the
same
which
is
pain,
local
anesthetic,
swelling,
pain
killers,
micro-
fractures
and
cross
contamination.
WaterLase
technology
offers
a
biological
solution
with
none
of
the
downsides
of traditional dentistry: NO drill, NO shot, NO pain, and NO cross contamination of
bacteria or viruses. According to the ADA, nearly 25% of all Americans avoid
dentists because they are afraid of dental drills and needles.
|
![]() WaterLases Amazing Return on Investment
WaterLase technology enables traditional dentists to perform procedures that they
currently refer out to specialists or WaterLase dentists, for example:
Gingivectomy = $160
Perio Treatment = $375
Hard-tissue Crown Lengthening = $520
Herpetic or Aphthous Ulcer = $308
Frenectomy = $355
This equates to $250-$750 per day in additional revenue
These procedures are easy to learn and training is included in the cost of the
WaterLase.
Monthly Lease Payment
New Monthly Revenue Generated
Approx. $1,000
$5,000
$15,000
PAGE 11
A dentists
return on
investment can be
between 500%
and 1,500%! |
![]() ![]() ![]() ![]() Substantial
Data:
The effectiveness of dental
lasers is proven and well
researched.
Clinical data and peer-
reviewed specialty journals
substantiate the effectiveness of
laser treatment in a wide variety
of procedures.
Technology Supported by Scientific Data
PAGE 12 |
![]() Some of
the Dental Schools that are Teaching WaterLase Technology around the
World PAGE 13 |
![]() 1. Dental
Health Magazine 2. Dental Burs and Endodontic Files: Are Routine Sterilization Procedures Effective?: Archie
Morrison, DDS, MS, FRCD(C); Susan Conrod, DDS JCDA
www.cda-adc.ca/jcda
February 2009, Vol. 75, No. 1. 3.
Contaminated dental instruments: Smith A, Dickson M, Aitken J, Bagg J.J Hosp Infect. 2002
Jul;51(3):233-5. 4. The antimicrobial efficacy
of
the
erbium,
chromium:
yttrium-scandium-gallium-garnet
laser
with
radial
emitting
tips
on root canal
dentin walls infected with Enterococcus faecalis: Wanda Gordon, DMD, Vahid A. Atabakhsh, DDS,
Fernando Meza, DMD, Aaron Doms, DDS, Roni Nissan, DMD, Ioana Rizoiu, MS and Roy H.
Stevens, DDS, MS JADA 2007; 138(7): 992-1002. Warning: Patients Urged to Ask their Dentists
About the Risk of Cross Contamination!
Cross contamination is a huge threat
1,2,3,4
:
The CDC defines cross-contamination as the act
of spreading bacteria and viruses from one surface
to another. Blood-borne viruses have the ability to
live on objects and surfaces for as long as a week.
Sterilization techniques used for the dental burs
used with the high speed drill and endodontic files
used in root canals are not effective. This is a
serious health threat for many people.
PAGE 14 |
![]() NO Risk
of Cross-Contamination: WaterLase
MD
reduced
E.
faecalis
2.86 times more effectively than NaOCl³
1. Dental Burs and Endodontic Files: Are Routine Sterilization Procedures Effective?: Archie
Morrison, DDS, MS, FRCD(C); Susan Conrod, DDS JCDA www.cda-adc.ca/jcda
February 2009, Vol. 75, No. 1. 2. Contaminated dental instruments:
Smith A, Dickson M, Aitken J, Bagg J.J Hosp Infect. 2002 Jul;51(3):233-5. 3. The
antimicrobial efficacy of the erbium, chromium:yttrium-scandium-gallium-garnet laser with radial emitting tips on root canal dentin walls infected with
Enterococcus faecalis: Wanda Gordon, DMD, Vahid A. Atabakhsh, DDS, Fernando Meza, DMD, Aaron
Doms, DDS, Roni Nissan, DMD, Ioana Rizoiu, MS and Roy H. Stevens, DDS, MS JADA 2007; 138(7): 992-1002
Burs and Endo Files:
15% of sterilized
burs and up to 76% of sterilized
endodontic files carry pathogenic micro-organisms.
Complex and rugged bur surface difficult to sterilize.
Autoclaving fails 15% of the time to decontaminate burs
WaterLase Tips:
Smooth tip surface does not harbor debris or bacteria
like abrasive surface of burs or files.
YSGG laser energy is bacteriacidal.
Single-use, disposable tips that work without the need to
contact tissue. Also eliminates accidental sticks with
contaminated burs.
WaterLase Laser Technology Eliminates the Risk
of Cross Contamination and Contagion
PAGE 15
2
1,
3
1 |
![]() Award
winning IP: Recognized for innovation, leadership, and the development of
numerous disruptive technologies, most notably the development of a new surgical
system to cut human tissue in a biological and atraumatic way. Received Astrum
Award at MDB Capitals 2011 Bright Lights Conference. Strategy:
Currently
working
with
highly
regarded
IP
consulting
company
to
analyze
our
patent
families
and
determine
those with the greatest potential:
Dentistry (including new lasers for hard and soft tissue, a laser toothbrush, flavored
water)
Ophthalmology (including procedures for presbyopia, glaucoma, maxillofacial
surgery)
Orthopedics and pain management (including use as a general surgical knife)
Internal development, licensing, and legal action against infringers.
Intellectual Property
PAGE 16
|
![]() Current
Status:
BIOLASE
currently
has
279
issued
and
pending
patents,
70%
of
which
are
related
to
our
core Er;Cr:YSGG technology and medical lasers.
Filing costs and maintenance
are
closely
monitored.
Funding
for
redundant
patents
and
patents
with a low-
probability for issuance are stopped.
Patent Portfolio
Issued
Pending
Total
U.S.
84
46
130
International
74
75
149
Total
158
122
279
PAGE 17 |
![]() Current
Line
of
BIOLASE
Products
All-tissue
dental
lasers:
Our
all-tissue
lasers
include
our
new
flagship
laser,
the
revolutionary
WaterLase iPlus, and the WaterLase MD Turbo.
Diode
soft-tissue
dental
lasers:
Our
soft
tissue
lasers
include
the
ezLase
total
diode
solution,
which
offers
power
and
portability,
and
the
revolutionary
iLase,
a
portable
diode
laser
with
no
foot
pedal, power cord, or external controls.
Medical:
The
Diolase
10
offers
high
intensity
laser
therapy
in
the
palm
of
your
hand
for
pain
management.
Digital
Imaging:
We
offer
a
full
line
of
digital
imaging
equipment,
including
cone
beam
3-D
dental
imaging and CAD/CAM digital dental impressions.
PAGE 18 |
![]() Patented
laser toothbrush for Home Use
BIOLASE is currently developing a laser toothbrush for consumer home-use in
connection with a license agreement with The Proctor and Gamble Company
(P&G).
Research indicates that a laser toothbrush for home-use will whiten teeth,
disinfect teeth and gums, bio- stimulate
teeth
and
gums,
relieve
pain,
and
perform
photodynamic
therapy.
No other product currently on the market can perform all of these functions.
New soft-tissue lasers
BIOLASE is also engineering a more powerful diode soft-tissue laser for launch in
2012 which will be the first offer multiple wavelengths and power up to 40
watts. Further Opportunities to Expand in Dentistry PAGE 19 |
![]() With our
patented WaterLase and diode technologies, we have created technological platforms
that have the ability to extend far outside of dentistry. This expansion into new
markets is a fundamental effort within BIOLASE. We expect to greatly expand our
addressable markets in the coming years which, we believe, has the potential
to substantially increase our revenues. Each of these potential
markets represents a multi- billion dollar opportunity.
Ophthalmology:
We
currently
hold
13
issued
and
20
pending
U.S.
and
International
patents
in
four
patent
families in the field of ophthalmology, giving us a wide range of applications and
coverage. Our patented technology has the capability to
restore the elasticity of the eye and allow it to return to normal function,
eliminating presbyopia. Management has established a new subsidiary, OCULASE,
which will own and develop BIOLASEs ophthalmic assets and
technologies. In 2012, we expect approval to market for glaucoma and
dry eyes. We expect approval to market WaterLase technology for presbyopia internationally in 2013 and
in the United States in 2014.
Further Opportunities to Expand in Medicine
PAGE 20 |
![]() Pain
Management:
We
anticipate
launching
a
new
deep-tissue
hand
piece
and
upgraded
laser
for
pain therapy in 2012 which will coincide with a new marketing campaign.
Podiatry:
We
have
found
that
our
Diolase
10
technology
is
very
effective
in
the
treatment
of
nail
fungus
and
we
are completing the clinical and regulatory requirements necessary to enter the market
in 2012. Orthopedics:
We
are
working
with
several
key
manufacturers
and
universities
to
provide
solutions
that
are
not
currently available. We are investigating opportunities for several orthopedic
applications and anticipate filing several 510(k) applications over the next 12
months. Aesthetics:
We
have
various
FDA
approvals
for
applications
in
dermatology,
plastic
surgery,
and
oculoplastics and are currently investigating options for entering these markets in
2012. PAGE 21
Further Opportunities to Expand in Medicine
(Continued) |
![]() How
BIOLASE is positioned for a successful turnaround:
BIOLASE
has
a
better
organizational
structure,
better
cost
control,
and
more
efficient
&
effective
Our
lower
cost
structure
and
growing
direct
sales
force
will
allow
us
to
leverage
our
earnings
The
BIOLASE
brand
is
currently
known
by
over
80%
of
North
American
dentists
and
is
growing
BIOLASE
has
the
largest
installed
base
of
dental
lasers
which
equates
to
recurring
revenues
from
BIOLASE
has
more
products
available
than
ever
before.
BIOLASE
has
more
clinical
trials,
more
FDA
approvals,
and
more
patents
and
pending
patents
than
Foundation for a Successful Recovery
PAGE 22
management than ever before.
compared to BIOLASE of the past.
internationally.
consumables, warranties, and service contracts.
ever before. |
![]() How
BIOLASE is Positioned in the Dental Market BIOLASE United
States BIOLASE International
Total: 12,500
Total: 5,500
Grand Total: 18,000
2,800
2,700
5,700
6,800
PAGE 23 |
![]() Owning
BIOLASE Means Owning the Hard Tissue Dental Laser Market
Biolase
80%
Source: Biolase Technology Licensing Reports
PAGE 24 |
![]()
and the Overall Dental Laser Market.
45%
Source: iData Research Inc.
2009 US Dental Laser Market: Hard & Soft Tissue
PAGE 25
Biolase |
![]() Our
Market Opportunity in Dentistry BIOLASEs global market opportunity is
tremendous!
176,000
dentists
in
the
US
and
Canada.
1
Over
1.2
million
dentists
in
134
countries.
2
18,000 systems in over 11,000 practices.
Every 1% of further market penetration is equal to an
opportunity of well over $600 million in revenues.
Estimated total global market of 1,200,000,
which is growing rapidly due to new markets
such as China, India, and Indonesia.
18,000
3
systems
sold
worldwide.
1. American Dental Association. 2. World Federation of Dentistry. 3.
1998-present over 17,300 BIOLASE systems sold. PAGE 26
Our current market penetration is approximately
3% in the United States and slightly less than 1%
internationally! |
![]() Substantial Opportunity in Emerging Markets
1. World Federation of Dentistry
Practicing Dentists
PAGE 27
Western Europe
240,000
dentists
1 dentist / 1,800
population
Eastern Europe
120,000
dentists
1 dentist / 4,000 population
China
16,000 dentists
1 dentist / 82,300 population
Japan
63,000 dentists
1 dentist / 2,000
population
Rest of Asia
43,000 dentists
1 dentist / 14,000
population
Middle East
19,000
dentists
1 dentist / 3,100 population
India
35,000
dentists
1 dentist / 33,900 population
Latin America
298,000
dentists
1 dentist / 5,600 population
North America
176,000 dentists
1 dentist / 1,900 population
Worldwide Total
1,200,000 dentists
1 |
![]() Expected Growth of Emerging Markets
PAGE 28
Emerging Markets are expected to be bigger than Developed Markets by 2050.
1,2
Forecasts predict that the top 5
economies in 2050 will include China,
the United States, India, Japan, and
Germany.
1
Led by China, at >800%, and India, at
>600%, the rise in income per capita in
the emerging world from 2010 to 2050
will dwarf that of the United States, at
<100%.
1
Other projected high growth emerging
markets include Russia (575%),
Indonesia
(400%),
and
Brazil
(200%).
1
1. Source: HBC Calculations; 2. Chart in Trillions of Constant US 2000 Dollars.
|
![]() BIOLASE
Technology, Inc. Today Company
Headquarters
in
Irvine,
California
PAGE 29
We have over 170 employees worldwide.
We have sales offices in the U.S., Floss (Germany),
Madrid (Spain), Shanghai (China), and Mumbai (India),
with expansion planned in Dubai (UAE), and Rio de
Janero (Brazil). We also have training facilities in
Charlotte, NC, St. Louis, MO, and Irvine, CA.
BIOLASE Europe in Floss, Germany
BIOLASE is the Global Leader in Dental Lasers:
Our 57,000 sq. ft. fcorporate HQ in Irvine houses
administrative, sales, marketing, customer care, training,
manufacturing, and R&D. This facility can accommodate
growth to $250 million.
We also have manufacturing capabilities in Floss, Germany.
|
![]() Operations
We are ISO 9001 certified and FDA GMP with clean room
operations. We also have manufacturing capabilities in
Floss, Germany.
Nearly 100% of our components and subassemblies are
manufactured in our facility and/or the U.S.
PAGE 30
We have a highly skilled R&D team with
extensive medical device and laser
development expertise. We are highly
focused in improving and extending our
dental and medical product portfolio.
Manufacturing and Research & Development |
![]() 0.5
1.0
Chart & Financial History
20
15
10
5
BLTI
SHARE
PRICE
1994-2006 Pignatelli
Chairman of the Board
Exclusive distribution partnership with
Henry Schein Aug 2006Aug 2010
Aug 2010-Present
Pignatelli CEO &
Board Chairman
1998 FDA
Clearance
WaterLase
PAGE 31 |
![]() Market
Data (NASDAQ: BLTI) PAGE 32
As of September 15, 2011:
Share
price
.....
...
......................................................................
Shares issued and
outstanding
....
.
Public float (shares held by others than the CEO and
Board).
.....
.
..
Average daily volume (three month
average)
..
.
......
Market
capitalization
......
..
..
Percentage of shares held by institutional holders (at June 30,
2011)..
.................
. Short
position
.
.
Dividend
yield
..
.
.
30,300,000
28,900,000
590,000
$106,900,000
approximately
57%
6,952,000
4%
Annual
Stock
BIOLASE is currently covered by analysts from Needham & Company LLC, WJB Capital
Group, and Rodman & Renshaw LLC and is part of both the Russell Global and
Russell 2000 Indexes. $3.53 |
![]() Financial Highlights
PAGE 33
Turnaround:
For
the
nine
month
period
ended
June
30,
2011,
BIOLASE
generated
non-GAAP
net
income
of approximately $885,000, as compared to a non-GAAP net loss of approximately $9.3
million for the nine month period ended June 30, 2010.
Insider Purchases:
During 2011, officers and directors have purchased approximately 109,700 shares of
stock in the open market for approximately $440,000. In addition, officers
and directors have converted approximately 523,000 options into shares of common
stock. Employee
Stakeholders:
BIOLASEs
entire
executive
team
holds
options
to
purchase
common
stock.
As of June 30, 2011, essentially all of our employees held 3,000,000 options.
CEO
Stakeholder:
BIOLASEs
Chairman,
President,
and
CEO,
Federico
Pignatelli,
has
an
annual
salary
of one dollar. Mr. Pignatelli owns approximately 1.7 million shares of stock and
200,000 options to purchase common stock. The only way that Mr. Pignatelli
will make money in 2011 is as a shareholder. |
![]() Recent
Developments Ophthalmology:
In September In June 2011, BIOLASE entered into an agreement with Daniel S. Durrie,
M.D.,
an
internationally
recognized
refractive
surgeon,
to
serve
as
BIOLASEs
primary
ophthalmic
expert
resource and partner with management to oversee the development and execution of our
clinical studies and consult
on
ophthalmic
applications
for
our
intellectual
property
portfolio. In September 2011, BIOLASE
established a new subsidiary, OCULASE, which will own and develop BIOLASEs
ophthalmic assets and technologies.
We
expect
approval
to
market
for
glaucoma
and
dry
eyes
in
2012
and
approval
to
market
WaterLase technology for presbyopia internationally in 2013 and in the United States in
2014. Asian
Offices:
In
June
2011,
BIOLASE
officially
opened
BIOLASE
Technology
Asia
Pacific,
its
Asian
headquarters,
in
Shanghai,
China,
and
a
direct
sales
and
service
office,
BIOLASE
India
Private
Limited,
in
Mumbai, India.
Digital
Imaging
Sales:
At
the
end
of
the
second
quarter,
BIOLASE
received
its
first
orders
for
its
state
of
the
art dental imaging devices for delivery in the third quarter.
PAGE 34 |
![]() Recent
Developments (continued) Direct
Sales
in
Germany:
BIOLASE
has
regained
the
ability
to
sell
direct
or
through
other
distributors
from Henry Schein Inc. (NASDAQ: HSIC) for all of its international territories and has
announced plans to expand BIOLASE Europe, GMBH, to now include a direct sales
force, along with service and support operations, for the German market.
Additions
to
the
Management
Team:
BIOLASE
has
recently
hired
Richard
Whipp
as
Director
of
Operations
and Ehab Esmail as Vice President of Global Regulatory, Quality and Clinical
Affairs. Private
Placement:
In
June
2011,
BIOLASE
raised
$9
million
from
institutional
investors
in
a
private
placement
through
the
sale
of
1.6
million
shares
of
common
stock
and
812,000
warrants.
PAGE 35 |
![]() BIOLASE
Technology, Inc. Federico Pignatelli, CEO
NASDAQ: BLTI
www.biolase.com
JMP Securities Healthcare Conference
September 27-28, 2011, New York |
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