Healthcare Industry News: BIOLASE
News Release - August 8, 2006
BIOLASE Names Henry Schein as Exclusive North American DistributorAlliance of the World's Leading Dental Laser Company and the Largest Distributor of Dental Products, Equipment, Software and Services in the Combined North American and European Markets Creates Powerful Combination
IRVINE, CA and MELVILLE, NY--(Healthcare Sales & Marketing Network)--Aug 8, 2006 -- BIOLASE Technology, Inc. (NASDAQ:BLTI ), a medical technology company that develops, manufactures and markets lasers and related products focused on technologies for improved applications and procedures in dentistry and medicine, and Henry Schein, Inc. (NASDAQ:HSIC ), the largest provider of healthcare products and services to office-based practitioners in the combined North American and European markets, announced today the signing of an exclusive, multi-year distribution agreement under which the BIOLASE direct sales and service organizations will collaborate with Henry Schein in the marketing, sales and service of all professional BIOLASE dental laser system products, including the Waterlase® MD -- the industry's leading "all-tissue" dental laser system.
Under the agreement, Henry Schein becomes the exclusive distributor of the complete line of BIOLASE dental laser systems, accessories and services within the United States and Canada, and will augment essential promotion, sales, installation, service and support functions. The agreement calls for Henry Schein to pay BIOLASE a $5 million license fee for access to BIOLASE's broad portfolio of intellectual property and technology. To maintain its exclusivity, Henry Schein must meet certain performance criteria, including minimum purchase commitments.
BIOLASE President and CEO, Jeffrey W. Jones commented on the signing of the new agreement, saying, "We recognize the broadening of our distribution will play a critical role in accelerating our growth and in leveraging our brands and product offerings. Henry Schein's strong and pervasive relationships in the dental professional community, extensive reach with more than 1,100 dental field sales consultants in the U.S. and Canada, and its proven ability to sell, service and support high-tech capital equipment make it an ideal partner for increasing market penetration and building the BIOLASE brand. We are looking forward to this exclusive distribution agreement as a way to further build on our past success and capitalize on future opportunities."
"We believe this alliance creates a powerful combination that will help us realize our vision of changing the face of dentistry by making Waterlase technology an integral part of the dental suite," Jones added. "This agreement is a strong endorsement of our technology and the strength and breadth of our intellectual property portfolio."
"Since the first BIOLASE dental laser system was brought to market, BIOLASE has set a new standard for technical innovation and patient comfort. We are delighted to be selling and servicing this important line of products on an exclusive basis, and to be able to offer our customers these leading-edge solutions," said Stanley M. Bergman, Chairman and Chief Executive Officer of Henry Schein. "BIOLASE now joins leading dental companies such as Pentron Laboratory products, Imaging Sciences International, DEXIS®, Pelton & Crane, KaVo and Gendex® in recognizing the benefits we bring in delivering solutions to the dental profession."
About BIOLASE Technology, Inc.
BIOLASE Technology, Inc. (http://www.biolase.com) is a medical technology company that develops, manufactures and markets lasers and related products focused on technologies for improved applications and procedures in dentistry and medicine. BIOLASE's products incorporate patented and patent pending technologies focused on reducing pain and improving clinical results. Its primary product, the Waterlase® system, is one of the best selling dental laser systems. The Waterlase system uses a patented combination of water and laser to precisely cut hard tissue, such as bone and teeth, and soft tissue, such as gums, with minimal or no damage to surrounding tissue. BIOLASE also offers the LaserSmile(TM) system, which uses a laser to perform soft tissue and cosmetic procedures, including tooth whitening. The company is also developing a laser for use in the field of ophthalmology.
About Henry Schein, Inc.
Henry Schein, a Fortune 500® company, is recognized for its excellent customer service and highly competitive prices. The company's four business groups -- Dental, Medical, International and Technology -- serve more than 500,000 customers worldwide, including dental practices and laboratories, physician practices and veterinary clinics, as well as government and other institutions. Henry Schein operates through a centralized and automated distribution network, which provides customers in more than 200 countries with a comprehensive selection of more than 70,000 national and Henry Schein private-brand products in stock, as well as over 100,000 additional products available to our customers as special order items.
Henry Schein also offers a wide range of innovative value-added practice solutions for healthcare professionals, such as ArubA®, the Company's electronic catalog and ordering system. Its leading practice-management software solutions have been installed in more than 50,000 practices, including DENTRIX® and Easy Dental® for dental practices, and AVImark® for veterinary clinics.
Headquartered in Melville, N.Y., Henry Schein employs nearly 11,000 people and has operations in 19 countries. The company's sales reached a record $4.6 billion in 2005. For more information, visit the Henry Schein Web site at www.henryschein.com.
This press release may contain forward-looking statements within the meaning of safe harbor provided by the Securities Reform Act of 1995 that are based on the current expectations and estimates by BIOLASE and Henry Schein management. These forward-looking statements can be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will" and variations of these words or similar expressions. Forward-looking statements are based on management's current, preliminary expectations and are subject to risks, uncertainties and other factors which may cause BIOLASE's or Henry Schein's actual results to differ materially from the statements contained herein, and which are described in the reports BIOLASE and Henry Schein file with the Securities and Exchange Commission, including their annual and quarterly reports. No undue reliance should be placed on forward-looking statements. Such information is subject to change, and neither BIOLASE nor Henry Schein undertakes any obligation to update such statements.
Source: BIOLASE Technology
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