Newsletter
IRVINE, Calif., USA: BIOLASE Technology, Californian-based dental laser manufacturer and distributor, has repurchased 159 of its Waterlase MD Turbo laser systems from Henry Schein, supplier of dental and medical equipment. The equipment is expected to be used primarily as a source of parts to service the large number of installed MD Turbo laser systems and for dental schools in order to promote Waterlase technology in the academic sector.
According to the manufacturer, the Waterlase MD Turbo, first launched in 2006, is the most successful all-tissue laser in the history of dental lasers, with approximately 6,500 units sold worldwide.
BIOLASE purchased the MD Turbos at a very advantageous price and the entire purchase price was offset by monies owed by Henry Schein to BIOLASE from sales made in the normal course of business mainly during the first quarter of 2012 and, to a much lesser extent, the year ended Dec. 31, 2011. None of the monies used to offset the purchase price were related to the original sales of the MD Turbos to Schein.
Federico Pignatelli, Chairman and CEO of BIOLASE, commented: "Closing this transaction is a very important step for BIOLASE, as it eliminates the overhang in the marketplace that equaled approximately 440 units at the end of 2010 and significantly impacted our sales in 2011, releases all liens on our patent and intellectual properties portfolio and frees us of any present and future obligations to Schein. It is also a very advantageous transaction, as the remaining inventory was purchased at a very convenient price and will mainly be used as parts to service our vast install base of MD Turbos."
