Here's more good news, although nothing seems to move this stock.
Wednesday August 25, 8:15 am Eastern Time
Company Press Release
SOURCE: Biolase Technology, Inc.
Biolase Technology Signs New Distribution
Agreements In Korea, Greece and Saudi Arabia
SAN CLEMENTE, Calif., Aug. 25 /PRNewswire/ -- Biolase Technology, Inc. (Nasdaq: BLTI -
news) today announced that it has signed agreements with three new international distributors to
market and sell its Millennium Hydrokinetic dental lasers. The new distributors include Han Jin
Dental Company, Ltd., of Seoul, Korea; Shelax Trading/Depodent, Ltd., of Athens, Greece; and
Ebrahim M. Almana and Bros. Company of Riyadh, Kingdom of Saudi Arabia.
All the agreements include initial purchases of Millennium lasers, which have already been
completed. The agreements also call for minimum quotas to retain exclusivity and requirements to
send dentists to the United States for clinical training and to send engineers to Biolase headquarters
for technical and service training.
Biolase also reported that it is negotiating with leading dental distributors in several other key
markets in Europe, the Middle East, Africa, Asia/Pacific Rim and Latin America, including Mexico
and Brazil, where the company has already sold and installed Millennium systems. The company
expects to announce additional international distribution agreements in the third quarter of 1999.
According to Keith G. Bateman, Biolase vice president of global sales, ``We have sold our first
systems for pain-free dentistry through our new distribution agreements in Korea, Greece and Saudi
Arabia. With several other important distribution agreements expected in the coming weeks, we
anticipate that our international sales of the Millennium Hydrokinetic technology will increase steadily
and significantly impact total company sales for the balance of 1999 and beyond.'
Added Jeffrey W. Jones, Biolase president and CEO, ``All of these new distributors have purchased
lasers that have already been sold to dentists in their respective markets. Clearly, the demand for our
Millennium laser within these diverse markets demonstrates the strength of our product and its
acceptance among dentists and the public alike.'
Biolase Technology, Inc. (www.biolase.com) manufactures and markets advanced dental, cosmetic,
aesthetic and surgical products, including the LazerSmile tooth whitening system
(www.lazersmile.com), Hydrokinetic(TM) surgical cutting systems, and other advanced laser and
non-laser based products for the professional and home consumer market. The company's products
incorporate patented and patent-pending technologies in the pursuit of painless surgery. |
