IRVINE, CA--(Marketwire -10/13/11)- BIOLASE Technology, Inc. (NASDAQ: BLTI - News), the World's leading dental laser manufacturer and distributor, today announced that in the third quarter ended September 30, 2011, international laser sales exceeded the historically stronger United States market laser sales. Management allocated the Company's selling resources to these developing markets in order to take advantage of recent international regulatory approvals which created market opportunities for the Company's new flagship product, the Waterlase iPlus™ all-tissue dental laser system, in Canada, Russia, and Taiwan.
Federico Pignatelli, Chairman and CEO, stated, "The purchase of the Waterlase iPlus by international dentists and distributors demonstrates that BIOLASE is becoming a global company whose new products have worldwide appeal. Our commitment to the Asian markets with the recent establishment of offices in Shanghai, China, and Mumbai, India, and our market expansion activities in Latin America, combined with the new hybrid distribution models in Canada and Germany, have produced significant results and market share gains.
"In addition to the regulatory approvals for the Waterlase iPlus we received in the third quarter," continued Pignatelli, "we expect to receive approval in Korea, in which we have a market penetration of 10 percent of dental offices and our largest installed base outside the United States, in the fourth quarter of 2011. Approval is expected in several other countries, including China and Brazil, in the coming months. It is especially rewarding that despite capacity constraints during the third quarter, which we do not expect in the current quarter, we were able to timely deliver internationally sufficient quantities of our new flagship Waterlase iPlus systems."
Pignatelli concluded, "We have made a strategic decision of investing in our international infrastructure and marketing to build a solid foundation to advance the growth of our international business into 2012 and beyond."
About BIOLASE Technology, Inc.
BIOLASE Technology, Inc., the World's leading Dental Laser company, is a medical technology company that develops, manufactures and markets dental lasers and also distributes and markets dental imaging equipment, products that are focused on technologies that advance the practice of dentistry and medicine. The Company's laser products incorporate patented and patent pending technologies designed to provide clinically superior performance with less pain and faster recovery times. Its imaging products provide cutting-edge technology at competitive prices to deliver the best results for dentists and patients. BIOLASE's principal products are dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications, and a full line of dental imaging equipment. Other products under development address ophthalmology 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.