Wednesday December 10, 8:33 am Eastern Time
Company Press Release
BIOLASE Technology, Inc. Announces $2.5 Million Credit Facility
SAN CLEMENTE, Calif.--(BW HealthWire)--Dec. 10, 1997--BIOLASE Technology, Inc. (NASDAQ:BLTI - news), a provider of laser-based advanced cosmetic, aesthetic, dental and surgical products, today announced that the company had obtained a $2.5 million line of credit to be utilized to acquire and manufacture inventory.
The credit facility has been obtained from the New York branch of Banca della Svizzera Italiana, a subsidiary of Swiss Bank Corporation, and is for the term of one year with the two six (6) month renewal options.
According to Donald A. La Point, president and chief executive officer of BIOLASE, ''This line of credit is very significant because it provides the financial resources required to meet the strong demand that we are experiencing internationally and domestically for our Hydro-Kinetic(TM) tissue cutting system, the Millennium(TM).''
BIOLASE Technology, Inc. manufactures and markets advanced cosmetic, aesthetic, dental and surgical products, including laser systems, Hydro-Kinetic(TM) surgical cutting systems, and develops specialized biomaterials for dentistry and other medical specialties. The company's products incorporate patented and patent-pending technologies that permit achievement of unique results.
The matters discussed in this news release include forward-looking statements which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements.
Such risks, uncertainties and other factors include, but are not limited to, the effect of actions of third parties, including governmental officials, the timely development and acceptance of new products, the impact of competitive products and pricing, and other risks detailed from time-to-time in the company's filings with the Securities and Exchange Commission, including the reports on Forms 10-KSB and 10Q.
Actual results may differ materially from those projected. These forward looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.
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Contact:
BIOLASE Technology, Inc.
Donald A. La Point, 714/361-1200
or
Pacific Consulting Group
Scott Liolios, 714/574-3860
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