SAN CLEMENTE, Calif., May 1 -- BIOLASE Technology Inc. announced it entered into an agreement Monday to purchase all laser assets, including patents and the name American Dental Laser, from American Medical Technologies Inc. (AMT) for 307,500 shares of BIOLASE stock and $1.825 million cash.
BIOLASE said the transaction will expand its customer base and product offerings and will enable it to "quickly penetrate the mid-level dental laser market." The closing is expected before the end of May.
The purchase includes a large portfolio of dental laser patents, intellectual property, products, current and past names (including American Dental and American Dental Laser), trademarks, inventory, customer lists and sales channels. The purchase also includes all dental laser relationships with universities, institutions and high-profile laser educators, BIOLASE said.
The American Dental Laser name provides BIOLASE with a marketing platform to expand its product offering with mid-level dental laser products, the company said. "BIOLASE now effectively owns and will have access to the largest installed base of dental lasers in the world for future sales and marketing purposes. Prior to BIOLASE's entrance into the dental laser market, American Dental Laser was recognized as the leader in dental lasers with thousands of diode and Nd:YAG soft tissue lasers installed around the world," said Jeffrey W. Jones, BIOLASE CEO and president, in a statement.
American Dental Laser was founded in 1986, launched the world's first dental laser in 1988 and received the first FDA marketing clearance for a dental laser in 1990. It also introduced the DiolaseST dental diode laser.
BIOLASE makes dental, cosmetic, aesthetic and surgical products, including Waterlase Hydrokinetic surgical cutting systems, LaserSmile and other laser and nonlaser products for the medical market.
For more information, visit: www.biolase.com