IRVINE, CA -- (Marketwire) -- 08/12/09 -- BIOLASE Technology, Inc. (NASDAQ: BLTI), the world's leading dental laser company, today announced that it has received approval to sell its Waterlase® dental laser systems in the People's Republic of China, one of the world's fastest growing dental markets. The official medical device registration certificate granted by the Chinese State Food and Drug Agency comes to positive closure after many years of hard work, rigorous testing and analysis of the product.
The Waterlase dental laser system, the Company's flagship product, uses a patented combination of water and laser light to perform most procedures currently performed using dental drills and scalpels resulting in enhanced clinical benefits and a more comfortable experience for patients.
"Our expansion into mainland China is a very important milestone for BIOLASE's international development and an initiative we and our partners have been working on for a considerable time," Chief Executive Officer David M. Mulder said, adding that he and the BIOLASE regional head will be traveling overseas this weekend for discussions on distribution launch plans. "This opens up an exciting new market for us. Dentistry in China is changing very rapidly with the establishment of many new private clinics and we have already found that Chinese patients are increasingly spending more on modern dental care with innovative dental devices like our Waterlase systems."
Mulder noted that BIOLASE has already developed a strong market presence in Taiwan and Hong Kong through the Company's distribution partners there. BIOLASE's experience in these existing markets will be important to help the Company maximize the market opportunity in China and of course there are practical benefits which flow from the common languages.
"We have a big head start on our preparations for launching in China, based on our early work in Taiwan and Hong Kong," Mulder said. "Our global team and our distribution partners are excited to be participating in this expansion. We believe the Chinese dental market will expand rapidly with the economic growth in the country and it is a significant opportunity for us to introduce our dental laser systems at an early stage to what we expect will ultimately become one of BIOLASE's most important international markets."
About BIOLASE Technology, Inc.
BIOLASE Technology, Inc. (http://www.biolase.com), the world's leading dental laser company, develops, manufactures and markets Waterlase technology and lasers and related products that advance the practice of dentistry and medicine. The Company's products incorporate patented and patent pending technologies designed to provide clinically superior performance with reduced pain, faster and biological recovery times. BIOLASE's principal products are dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications. Other products under development address ophthalmology, pain management and other medical and consumer markets.
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 our 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 the Company's actual results to differ materially from the statements contained herein, and are described in the Company's reports it files with the Securities and Exchange Commission, including its annual and quarterly reports. No undue reliance should be placed on forward-looking statements. Such information is subject to change, and we undertake no obligation to update such statements.
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