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| 8-K - FORM 8-K - BIOLASE, INC | d257409d8k.htm |
 BIOLASE
Technology, Inc. Fred Furry, COO/CFO
NASDAQ: BLTI
www.biolase.com
LAZARD 8 Annual Healthcare Conference
November 15-16, 2011, New York , NY
EXHIBIT 99.1
th |
 Safe
Harbor Statement PAGE
2
This presentation may contain forward-looking statements that are based on our
current expectations, estimates and projections about our industry as well as
management’s beliefs and assumptions. Words such as
“anticipates,” “expects,” “intends,”
“plans,” “believes,” “seeks,” “estimates,” “may,” “will,” and variations of these
words or similar expressions are intended to identify forward-looking statements.
These statements include projections about our future earnings and margins and
speak only as of the date hereof. Such statements are based upon the information
available to us now and are subject to change. We will not necessarily inform you
of such changes. These statements are not guarantees of future performance and are
subject to certain risks, uncertainties and assumptions that are difficult to
predict. Therefore our actual results could differ materially and adversely from
those expressed in any forward-looking statements as a result of various factors. The important
factors which could cause actual results to differ materially from those in the
forward-looking statements include, among others, a downturn or leveling off
of demand for our products due to the availability and pricing of competing
products and technologies, adverse international market or political conditions, a domestic economic
recession, the volume and pricing of product sales, our ability to control costs,
intellectual property disputes, the effects of natural disasters and other
events beyond our control and other factors including those detailed in
BIOLASE’s filings with the Securities and Exchange Commission including its prior
filings on Form 10-K and 10-Q. |
 •
Effective August 2010, BIOLASE changed direction with a new CEO and a fully
reconstituted Board of Directors. As a result, BIOLASE has a better
organizational structure, better cost control, and is more effective and
efficient than
ever
before.
Additional
management
changes
have
followed.
•
For the twelve month period ended September 30, 2011, BIOLASE generated non-GAAP
net income of approximately $612,000, as compared to a non-GAAP net loss of
approximately $11.5 million for the twelve month period ended September 30,
2010. •
BIOLASE had
stockholders’
equity
of
$14.3
million
at
September
30,
2011,
compared
to
a
stockholders’
deficit of ($3.5 million) at September 30, 2010.
•
As of September 30, 2011, the Company had cash of $5.8 million and no bank debt.
•
Our lower cost structure, growing direct sales force, and expanding product
platforms in dentistry and other areas of medicine will allow us to leverage our
earnings compared to BIOLASE of the past. •
BIOLASE is moving from a one-product, one-platform company to a
multi-product, multi-platform company. BIOLASE is a True Turnaround
Story PAGE 3
How BIOLASE is positioned for a successful recovery: |
 BIOLASE
is revolutionizing surgery by breaking the limitations of conventional dentistry
and medicine.
PAGE 4
BIOLASE is NOT Just Another Medical
Equipment Company!
New management is transforming BIOLASE from a one product, one segment company of the
past to a multi- product and multi-segment platform company that
will be better diversified in 2012 and beyond and better positioned for
substantial growth compared to the “old” BIOLASE. In 2011, BIOLASE has better positioned
itself product-wise due to the release of its revolutionary all-tissue
WaterLase iPlus, which now equals the speed of a dental drill; the iLase, the
first battery operated handheld diode laser; and the introduction of a full line
of digital imaging devices. BIOLASE is expecting to launch several new and cutting edge laser products in
2012 to further leverage its tremendous IP portfolio. |
 How is
BIOLASE Revolutionizing Surgery? Years
of
engineering
and
research
at
BIOLASE
led
to
the
discovery
that
the
Er,Cr:YSGG
(2796nm)
laser
crystal
(Erbium,
Chromium
doped
Yttrium-Scandium-Gallium-Garnet)
has
the
highest
level
of
absorption
in
water
molecules
contained
in
human
tissue.
This
absorption
creates
an
expansion
and
vaporization
of
the
water
molecules
causing
a
biological
ablation
of
human
tissue
including
teeth,
dentin,
bone,
gum,
skin
and
the
eye).
For
example,
tooth
enamel
contains
up
to
5%
water,
dentin
and
bone
contain
up
to
25%
water,
soft
tissue
(gum
tissue
and
skin)
contains
up
to
80%
water,
and
the
eye
contains
up
to
90%
water.
…through the science of WaterLase!
PAGE 5
Conventional Surgical Devices include the scalpel, high speed drill,
electrosurge, electric bone saws, and heat generating lasers.
|
 BIOLASE
is the World Leader in Laser Dentistry… …and the Dental Community is the
Largest Medical Community in the World!
PAGE 6
BIOLASE 45%
BIOLASE 45%
Source: iData Research Inc.
2009 US Overall Dental Laser Market: Hard
& Soft Tissue
PAGE 6
BIOLASE 80%
BIOLASE 80%
Source: Biolase Technology Licensing Reports
2009 US Dental Laser Market:
Hard Tissue |
 Medical:
The Diolase 10 offers high intensity laser therapy in the
palm of your hand for pain management.
Digital Imaging:
We offer a full line of digital imaging equipment,
including cone beam 3-D dental imaging and CAD/CAM digital
dental impressions.
Diode soft-tissue dental lasers:
Our
soft
tissue
lasers
include the ezLase total diode solution, which offers power
and portability, and the revolutionary iLase, a portable diode
laser with no foot pedal, power cord, or external controls.
Current Line of BIOLASE Products
PAGE 7
All-tissue dental lasers:
Our all-tissue lasers include our new flagship laser, the
revolutionary WaterLase iPlus, and the WaterLase MD Turbo.
|
 Traditional Dentistry
The painting Cavadenti, the Tooth Puller, by Caravaggio, circa 1608
PAGE 8 |
 Alternative and Advanced Hi-Tech Dentistry
Atraumatic Pediatric Tooth Extraction
The aiming beam on
the NEW WaterLase
iPlus is green. This
red beam featured in
the previous
generation of
WaterLase products
does not cut the
tissue. Tissue is cut
biologically, with
water at the
molecular level.
Using BIOLASE WaterLase Systems, including our new WaterLase iPlus System:
PAGE 9
The iPlus features an
intuitive, touch-based
computer screen,
similar to a tablet
personal computer.
It is designed to
allow for remote
servicing and
software upgrades. |
 WaterLase High Speed Cutting
PAGE 10 |
 WaterLase vs. Drill
PAGE 11 |
 In 2011:
Single Product Company 1.
Moved from exclusive distribution with Schein
to direct sales and multi-distributor model.
2.
Launched iPLUS which EQUALS the speed of
a traditional dental drill.
3.
Globalized distribution with approvals in
Canada, Korea, Russia, Taiwan, & others.
4.
Launched digital imaging products in 3Q11.
5.
Grew revenues over 100%.
6.
Resetting investor expectations: under promise,
over deliver.
In 2012: Broaden Platform and Product Portfolio
1.
Diversify revenue base to expand addressable
markets and reduce investor risk.
2.
Launch 2 to 3 new dental categories in 2Q12.
3.
Enter or begin clinical development & approval in:
ophthalmology, orthopedics, pain management,
podiatry, and aesthetics.
4.
Re-launch iLase with new distribution partners.
5.
Continue to expand global sales footprint.
PAGE 12
Becoming a Globally Diversified Platform Company |
 Why
BIOLASE WaterLase Technology in Dentistry?
Traditional
high-speed
drills
work
by
FRICTION
which
creates
HEAT
which
causes
PAIN.
This
PAIN
necessitates
injections
of
ANESTHESIA
which
results
in
PAIN
and
NUMB
LIPS. In
addition, the lack of feeling from the numbing injections can lead to THERMAL DAMAGE
which can lead to PULPAL DEATH and result in a ROOT CANAL.
The
traditional
high-speed
drill
also
causes
VIBRATION,
which
causes
PAIN
and
leads
to
MICROFRACTURES. These MICROFRACTURES allow BACTERIA to penetrate the tooth
which causes further DECAY and the FRACTURING of teeth.
High speed
drills
also
require
the
use
of
BURS
which
even
after
autoclaving
have a 15% chance of carrying pathogenic micro-organisms. Needles
and files can also carry bacteria. That means in traditional dentistry the
patient has a 1 in 6 chance of cross contamination.
WaterLase energy
does not create heat or vibration so there is NO PAIN. Further, the
WaterLase is bactericidal, antiviral and essentially eliminates the risk of cross
contamination. PAGE 13 |
 Why
Dentists Should Buy an iPlus System? •
WaterLase technology enables traditional dentists to perform procedures that they
currently refer out to specialists or current WaterLase dentists, for
example: •
Gingivectomy = $160
•
Perio Treatment = $375
•
Hard-tissue Crown Lengthening = $520
•
Herpetic or Aphthous Ulcer = $308
•
Frenectomy = $355
•
With no anesthesia, the WaterLase also increases efficiency and allows the dentist to
work in multiple quadrants in a single visit.
•
This equates to $250-$750 per day in additional revenue. These procedures
are easy to learn and training is included in the cost..
Monthly Lease Payment
New Monthly Revenue Generated
Approx. $1,000
$5,000 –
$15,000
PAGE 14
A dentists’
return on investment can
be between 500% and 1,500%!
…WaterLase’s Tremendous Return on
Investment! |
 Some of
the Many Dental Schools that are Teaching WaterLase Technology around the
World PAGE 15 |
 Intellectual Property
PAGE 16
Award winning IP:
Recognized for innovation, leadership, and the development of numerous disruptive
technologies, most notably the development of a new surgical system to cut human
tissue in a biological and atraumatic way.
Received Astrum Award at MDB Capital’s 2011 Bright Lights Conference.
Strategy:
Currently working with highly regarded IP consulting company to analyze our patent
families and determine those with the greatest potential:
–
Dentistry (including new lasers for hard and soft tissue, a laser toothbrush, flavored
water)
–
Ophthalmology (including procedures for presbyopia, glaucoma, maxillofacial surgery)
–
Orthopedics and pain management (including use as a general surgical knife)
Internal development, licensing, and legal action against
infringers. |
 Patent
Portfolio Issued
Pending
Total
U.S.
84
46
130
International
74
75
149
Total
158
121
279
PAGE 17
Filing costs and maintenance are closely monitored. Funding for redundant patents
and patents with a low- probability for issuance are stopped. BIOLASE currently has
279 issued and pending patents, 70% of which are related to our core Er;Cr:YSGG
technology and medical lasers.
Current Status: |
 •
Prior to 1Q11 WaterLase adoption was thwarted by indirect sales through Henry
Schein… –
Began transition to direct sales model with 17 sales people in 4Q10.
–
Direct sales force of 31 at the end of 3Q11.
–
Expected to grow by 5-7 by year end.
•
1Q11 iPLUS upgrade improved user interface AND broke speed barrier relative to
traditional drills.
–
With the iPlus, WaterLase technology is now as fast as a traditional drill.
–
The iPlus is 33% faster than the WaterLase MD, which is 75% of the speed of a
traditional drill. •
Penetration rates in Asian regions and parts of California are 6X the overall global
market. –
2 to 3 times more than the U.S . & European Union overall.
BIOLASE had broken the speed barrier with the revolutionary iPlus!
PAGE 18
iPlus Adoption is Accelerating
|
 How
BIOLASE is Positioned in the Dental Market BIOLASE United
States BIOLASE International
Total: 12,500
Total: 5,500
Grand Total: 18,000
2,800
2,700
5,700
6,800
PAGE 19
Hard-tissue
Soft-tissue
Hard-tissue
Soft-tissue |
 The
iPlus’ global
market
opportunity
is
immense
…
because the
dental
community
is
the
largest
medical
community in the world.
•
176,000 dentists in the US and Canada.
1
•
Over 1.2 million dentists in 134 countries and growing
rapidly in emerging economies.
•
18,000 systems in over 11,000 practices.
•
Every 1% of further market penetration, just with the
WaterLase, is equal to an opportunity of well over $600
million in revenues!
Estimated total global market of 1,200,000,
which is growing rapidly due to new markets
such as China, India, and Indonesia.
18,000
3
systems sold worldwide.
1. American Dental Association. 2. World Federation of Dentistry. 3.
1998-present over 17,300 BIOLASE systems sold. PAGE 20
Our current market penetration is approximately
3% in the US and slightly less than 1% internationally!
2
$50B - $100B iPlus Market Opportunity
|
 Substantial Opportunity in Emerging Markets
North America
176,000 dentists
1 dentist / 1,900 population
Western Europe
240,000
dentists
1 dentist / 1,800
population
Latin America
298,000
dentists
1 dentist / 5,600 population
Eastern Europe
120,000
dentists
1 dentist / 4,000 population
Middle East
19,000
dentists
1 dentist / 3,100 population
India
35,000
dentists
1 dentist / 33,900 population
China
16,000 dentists
1 dentist / 82,300 population
Rest of Asia
43,000 dentists
1 dentist / 14,000
population
Worldwide Total
1,200,000 dentists
1. World Federation of Dentistry
Practicing Dentists
Japan
63,000 dentists
1 dentist / 2,000
population
PAGE 21
1 |
 WaterLase
MD™ reduced E. faecalis 2.86
times more effectively than NaOCl³
Burs and Endo Files:
•
15% of “sterilized”
burs and up to 76% of “sterilized”
endodontic files carry pathogenic micro-organisms.
•
Complex and rugged bur surface difficult to sterilize.
•
Autoclaving fails 15% of the time to decontaminate burs
•
Only
32%
of
endodontic
engine-driven
files
are
replaced
after
every case and 36% after every other
case.
WaterLase Tips:
•
Smooth tip surface does not harbor debris or bacteria like
abrasive surface of burs or files.
•
YSGG laser energy is bacteriacidal.
•
Single-use, disposable tips that work without the need to
contact tissue. Also eliminates accidental sticks with
contaminated burs.
BIOLASE will enter new dental category utilizing WaterLase technology as it
essentially eliminates the risk of cross contamination and contagion:
PAGE 22
Eliminating the Risk of Cross Contamination
1,2
1
4
3
1. Dental Burs and Endodontic Files: Are Routine Sterilization Procedures Effective?: Archie
Morrison, DDS, MS, FRCD(C); Susan Conrod, DDS JCDA • www.cda-adc.ca/jcda • February 2009, Vol. 75, No. 1. 2. Contaminated dental
instruments: Smith A, Dickson M, Aitken J, Bagg J.J Hosp Infect. 2002
Jul;51(3):233-5. 3. The antimicrobial efficacy of the erbium, chromium:yttrium-scandium-gallium-garnet laser with radial emitting tips on root canal dentin
walls infected with Enterococcus faecalis: Wanda Gordon, DMD, Vahid A. Atabakhsh, DDS, Fernando
Meza, DMD, Aaron Doms, DDS, Roni Nissan, DMD, Ioana Rizoiu, MS and Roy H. Stevens, DDS, MS JADA 2007; 138(7): 992-1002.
4. Dentaltown Research: Endodontics; Survey, October 2011, dentaltown.com.
|
 1. Dental
Health Magazine 2. Dental Burs and Endodontic Files: Are Routine Sterilization Procedures Effective?: Archie
Morrison, DDS, MS, FRCD(C); Susan Conrod, DDS JCDA •
www.cda-adc.ca/jcda •
February 2009, Vol. 75, No. 1. 3.
Contaminated dental instruments: Smith A, Dickson M, Aitken J, Bagg J.J Hosp Infect. 2002
Jul;51(3):233-5. 4. The antimicrobial
efficacy
of
the
erbium,
chromium:yttrium-scandium-gallium-garnet
laser
with
radial
emitting
tips
on
root
canal
dentin walls infected with Enterococcus faecalis: Wanda Gordon, DMD, Vahid A. Atabakhsh, DDS,
Fernando Meza, DMD, Aaron Doms, DDS, Roni Nissan, DMD, Ioana Rizoiu, MS and Roy H.
Stevens, DDS, MS JADA 2007; 138(7): 992-1002. Warning:
Patients Urged to Ask their Dentists
About the Risk of Cross Contamination!
Cross contamination is a huge threat
1,2,3,4
:
•
The CDC defines cross-contamination as the act
of spreading bacteria and viruses from one surface
to another. Blood-borne viruses have the ability to
live on objects and surfaces for as long as a week.
•
Sterilization techniques used for the dental burs
used with the high speed drill and endodontic files
used in root canals are not effective. This is a
serious health threat for many people.
PAGE 23 |
 Patented
laser toothbrush for Home Use •
BIOLASE is currently developing a laser toothbrush for consumer home-use in
connection with a license agreement with The Proctor and Gamble Company
(“P&G”). •
Research indicates that a laser toothbrush for home-use will whiten teeth,
disinfect teeth and gums, bio- stimulate
teeth
and
gums,
relieve
pain,
and
perform
photodynamic
therapy.
•
No other product currently on the market can perform all of these functions.
New soft-tissue lasers
•
BIOLASE is also engineering a more powerful diode soft-tissue laser for launch in
2012 which will be the first offer multiple wavelengths and power up to 40
watts. Further Opportunities to Expand in Dentistry
PAGE 24 |
 •
iPlus sales will continue grow rapidly as new products ramp enhancing revenue
visibility. •
Disposables and consumables will continue to represent ~20% of total sales.
•
New products will expand BIOLASE’s addressable markets 2 to 3 times.
•
BIOLASE will re-launch the iLase with new distributor partners in early 2012.
2011 (Projected)
2012 (Projected)
WaterLase Systems
~64%
~50%
Diode Systems
~15%
~15%
Consumables & Other
~20%
~20%
New
~1%
~15%
BIOLASE will diversify in 2012 and expand product sales beyond dentistry.
PAGE 25
Diversification in 2012 |
 With
our
patented
WaterLase
and
diode
technologies,
we
have
created
technological
platforms
that
have
the
ability
to
extend
far
outside
of
dentistry.
We
expect
to
greatly
expand
our
addressable
markets
in
the
coming
years
which,
we
believe,
has
the
potential
to
substantially
increase
our
revenues.
Each
of
these
potential
markets
represents
a
multi-billion
dollar
opportunity.
Ophthalmology:
We
currently
hold
13
issued
and
20
pending
U.S.
and
International
patents
in
four
patent
families
in
the
field
of
ophthalmology,
giving
us
a
wide
range
of
applications
and
coverage.
Our
patented
technology
has
the
capability
to
restore
the
elasticity
of
the
eye
and
allow
it
to
return
to
normal
function,
eliminating
presbyopia.
Management
has
established
a
new
subsidiary,
OCULASE,
which
will
own
and
develop
BIOLASE’s
ophthalmic
assets
and
technologies.
In
2012,
we
expect
approval
to
market
for
glaucoma
and
dry
eyes.
We
expect
approval
to
market
WaterLase
technology
for
presbyopia
internationally
in
2013
and
in
the
United
States
in
2014.
2012: Expanding Beyond Dentistry
PAGE 26 |
 Pain
Management:
We
anticipate
launching
a
new
deep-tissue
hand
piece
and
upgraded
laser
for
pain
therapy
in
2012
which
will
coincide
with
a
new
marketing
campaign.
Podiatry:
We
have
found
that
our
Diolase
10
technology
is
very
effective
in
the
treatment
of
nail
fungus
and
we
are
completing
the
clinical
and
regulatory
requirements
necessary
to
enter
the
market
in
2012.
Orthopedics:
We
are
working
with
several
key
manufacturers
and
universities
to
provide
solutions
that
are
not
currently
available.
We
are
investigating
opportunities
for
several
orthopedic
applications
and
anticipate
filing
several
510(k)
applications
over
the
next
12
months.
Aesthetics:
We
have
various
FDA
approvals
for
applications
in
dermatology,
plastic
surgery,
and
oculoplastics
and
are
currently
investigating
options
for
entering
these
markets
in
2012.
PAGE 27
2012:
Expanding
Beyond
Dentistry
(Continued) |
 Quarterly
Revenues
(in
Millions)
PAGE 28
Federico Pignatelli restored
as Chairman & CEO in Aug 2010
Record quarter with
Federico Pignatelli interim
CEO during Q407
2004
2005
2006
2007
2008
2009
2010
2011
Q1-Mar
$ 14.5
$ 16.8
$ 16.9
$ 15.1
$ 19.0
$ 6.6
$ 4.4
$ 10.6
Q2-Jun
$ 14.7
$ 14.5
$ 15.9
$ 18.2
$ 18.7
$ 14.3
$ 5.9
$ 12.1
Q3-Sep
$ 12.0
$ 11.7
$ 17.1
$ 12.8
$ 15.3
$ 12.1
$ 6.2
$ 13.1
Q4-Dec
$ 19.1
$ 19.0
$ 19.8
$ 20.8
$ 11.6
$ 10.4
$ 9.7
Over 100% revenue
growth to date in 2011
compared to 2010
Direct sales ramp begins in Sep 2010 |
 Quarterly
Non-GAAP
Net
Income
(in
Millions)
2004
2005
2006
2007
2008
2009
2010
2011
Q1-Mar
$ 0.783
$ (4.015)
$ (1.462)
$ (0.890)
$ 0.985
$ (3.763)
$ (4.797)
$ 0.153
Q2-Jun
$ 1.006
$ (6.222)
$ (1.340)
$ (0.089)
$ 1.578
$ 3.020
$ (3.657)
$ 0.069
Q3-Sep
$ (0.962)
$ (4.820)
$ (0.167)
$ (2.765)
$ (3.551)
$ 1.534
$ (2.173)
$ (0.397)
Q4-Dec
$(23.257)
$ (0.479)
$ (2.466)
$ (0.272)
$ (4.338)
$ (0.888)
$ 0.787
Adjustments from net income (loss) include: depreciation and amortization,
non-cash stock-based compensation expense, and interest expense. PAGE 29
Federico Pignatelli restored
as Chairman & CEO in Aug 2010 |
 Financial Highlights
PAGE 30
Insider Purchases:
During 2011, officers and directors have purchased approximately 109,700 shares of
stock in the open market for approximately $440,000. In addition, officers
and current and past directors have converted approximately 523,000 options into
shares of common stock. Employee
Stakeholders:
BIOLASE’s
entire
executive
team
holds
options
to
purchase
common
stock.
As of September 30, 2011, essentially all of our employees held approximately 3 million
options. CEO
and
Board
Stakeholders:
BIOLASE’s
Chairman,
President,
and
CEO,
Federico
Pignatelli,
has
an
annual salary of one dollar. Mr. Pignatelli owns approximately 1.5 million shares
of common stock and options and the remaining Board members own approximately
400,000 shares of common stock and options. |
 20
15
10
5
BLTI
Revenues
BLTI
Share
Price
Chart & Financial History
Exclusive distribution partnership with
Henry Schein Aug 2006–Aug 2010
1998 FDA
Clearance
WaterLase
PAGE 31
Volume: Millions of Shares
1994-2006 Pignatelli
Chairman of the Board
Aug 2010-Present
Pignatelli CEO &
Board Chairman |
 BIOLASE
Technology, Inc. Today Company
Headquarters
in
Irvine,
California
PAGE 32
•
We
have
over
170
employees
worldwide.
•
We
have
sales
offices
in
the
U.S.,
Floss
(Germany),
Madrid
(Spain),
Shanghai
(China),
and
Mumbai
(India),
with
expansion
planned
in
Dubai
(UAE),
and
Rio
de
Janero
(Brazil).
We
also
have
training
facilities
in
Charlotte,
NC,
St.
Louis,
MO,
and
Irvine,
CA.
BIOLASE Europe in Floss, Germany
•
Our 57,000 sq. ft. corporate HQ in Irvine houses
administrative, sales, marketing, customer care, training,
manufacturing, and R&D. This facility can accommodate
growth to $250 million.
•
We also have manufacturing capabilities in Floss, Germany
•
ISO 9001 certified and FDA GMP with clean room operations.
BIOLASE is the Global Leader in Dental Lasers: |
 Recent
Developments Stock
Dividend:
In
November
2011,
BIOLASE’s
Board
of
Directors
declared
a
1%
stock
dividend
to
shareholders
of
record
on
November
25,
2011,
payable
on
December
5,
2011.
This
is
the
fourth
1%
stock
dividend declared by the Board during 2011.
Recent
Approvals:
Recently
received
regulatory
approvals
to
sell
the
Waterlase
iPlus
throughout
Canada
and
Korea
and
the
Waterlase
iPlus
and
iLase™
portable
dental
laser
systems
throughout
the
Russian
Federation, Taiwan, and other countries.
Digital
Imaging
Sales:
BIOLASE
began
shipping
its
state
of
the
art
dental
imaging
devices
during
the
third quarter.
Additions
to
the
Management
Team:
BIOLASE
has
recently
hired
Richard
Whipp
as
Vice
President
of
Operations
and
Ehab
Esmail
as
Vice
President
of
Global
Regulatory,
Quality
and
Clinical
Affairs.
Chief
Financial Officer Fred Furry was promoted with the additional role of Chief Operating
Officer. PAGE 33 |
 Recent
Developments
(continued)
Direct
Sales
in
Germany:
BIOLASE
has
regained
the
ability
to
sell
direct
or
through
other
distributors
from
Henry
Schein
Inc.
(NASDAQ:
HSIC)
for
all
of
its
international
territories
and
has
announced
plans
to
expand
BIOLASE
Europe,
GMBH,
to
now
include
a
direct
sales
force,
along
with
service
and
support
operations,
for
the
German
market.
Private
Placement:
In
June
2011,
BIOLASE
raised
$9
million
from
institutional
investors
in
a
private
placement
through
the
sale
of
1.6
million
shares
of
common
stock
and
812,000
warrants.
In
August
2011,
the
company
repurchased
90,000
of
these
warrants
for
$99,900.
Ophthalmology:
In
September
2011,
BIOLASE
established
a
new
subsidiary,
OCULASE,
which
will
own
and
develop
BIOLASE’s
ophthalmic
assets
and
technologies.
We
expect
approval
to
market
for
glaucoma
and
dry
eyes
in
2012
and
approval
to
market
WaterLase
technology
for
presbyopia
internationally
in
2013
and
in
the
United
States
in
2014.
Asian
Offices:
In
June
2011,
BIOLASE
officially
opened
BIOLASE
Technology
Asia
Pacific,
its
Asian
headquarters,
in
Shanghai,
China,
and
a
direct
sales
and
service
office,
BIOLASE
Technology
India
Private
Limited,
in
Mumbai,
India.
PAGE 34 |