8-K

 

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

Date of Report (Date of Earliest Event Reported): June 15, 2011

Biolase Technology, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Delaware	000-19627	87-0442441
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
4 Cromwell, Irvine, California		92618
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 949-361-1200

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 1.01 Entry into a Material Definitive Agreement.

On June 15, 2011, Biolase Technology, Inc. (the "Company"), Koninklijke Philips Electronics N.V. ("Philips Electronics") and Discus Dental LLC ("Discus," and together with Philips Electronics, "Philips") finalized a binding settlement agreement (the "Settlement Agreement") to fully settle and dismiss with prejudice all claims asserted by Philips against the Company in a lawsuit in U.S. District Court for the Central District of California, which included claims of design patent infringement, federal unfair competition, common law trademark infringement, unfair competition, and violation of the California Unfair Trade Practices Act.

All of Philips’ claims against the Company have been completely dropped and dismissed in their entirety. In connection with the Settlement Agreement, Philips will receive a one-time nominal payment, most of which will be paid by the Company's insurance carrier. The Settlement Agreement contains confidentiality provisions that limit disclosure of the terms of the settlement except as required by law.

A copy of the press release announcing the Settlement Agreement is furnished as Exhibit 99.1 and incorporated into this Item 1.01 by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press Release of Biolase Technology, Inc., dated June 16, 2011.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Biolase Technology, Inc.
June 16, 2011	By:	/s/ Federico Pignatelli
		Name: Federico Pignatelli
		Title: Chairman and Chief Executive Officer

Exhibit Index

Exhibit No.	Description
99.1	Press Release of Biolase Technology, Inc., dated June 16, 2011.

EX-99.1

NEWS RELEASE for June 16, 2011

BIOLASE ANNOUNCES SETTLEMENT WITH PHILIPS, RESULTING IN FULL AND FINAL DISMISSAL OF LITIGATION

IRVINE, CA (June 16, 2011) — BIOLASE Technology, Inc. (NASDAQ:BLTI), the World’s leading dental laser manufacturer and distributor, today announced that it reached a final settlement agreement with Koninklijke Philips Electronics N.V. (NYSE:PHG) and Discus Dental LLC, regarding the litigation that Discus brought against BIOLASE in 2010 (Discus was subsequently acquired by Philips).

In the litigation, Discus asserted claims of design patent infringement, federal unfair competition, common law trademark infringement, unfair competition, and violation of the California Unfair Trade Practices Act. Discus claimed that BIOLASE’s iLase™ personal laser infringed Discus’ design patent, as well as trade dress rights Discus claimed in its own dental lasers. All of Discus’ and Philips’ claims against BIOLASE have been completely dropped and dismissed in their entirety with prejudice.

Discus and Philips had sought damages, attorneys’ fees, as well as a permanent injunction barring BIOLASE from selling the iLase. As part of the settlement, BIOLASE denied any and all such liability, and will continue to be able to sell the iLase throughout the world without interruption of any kind. As part of the settlement, Philips will receive a nominal payment, most of which will be paid by BIOLASE’s insurance carrier.

Federico Pignatelli, Chairman and CEO, said, “We are very pleased to have concluded this litigation, which arose during the tenure of prior management. I believed it was an unnecessary distraction to our current management team, whose efforts are solely focused on growing BIOLASE. We are obviously happy with the outcome.”

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.

For further information, please contact: Jill Bertotti, of Allen & Caron, +1-949-474-4300.

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