BIOLASE to Explore Possible M&A Transactions
Board Authorizes Management to Engage Investment Bank to Maximize
IRVINE, CA -- (Marketwired) -- 11/11/13 -- BIOLASE, Inc. (NASDAQ:
BIOL), the world's leading manufacturer and distributor of dental
lasers, and a pioneer in laser surgery in other medical specialties,
today announced that its Board of Directors ("Board") has authorized
BIOLASE to seek the services of an investment bank to explore
possible M&A transactions with the goal of maximizing shareholder
Federico Pignatelli, Chairman and CEO of BIOLASE, said, "The Company
is currently valued at approximately one-times revenue, and we
believe that certain of its assets could be worth significantly more.
With developmental pre-launch business opportunities in
ophthalmology, otolaryngology, orthopedics, podiatry, pain
management, and veterinary therapeutic laser products, BIOLASE has
more opportunities than we can pursue on our own. Selling one or more
of them could generate the funds that could give us the working
capital we need for our core businesses.
"BIOLASE has already begun the process of interviewing and evaluating
several investment banks and is committed to conducting a review of
potential opportunities as promptly as practicable; however, there
can be no assurance that any particular opportunity will be pursued
or that any transaction will occur, or on what terms or as to the
timing. We will provide additional information during the process, as
appropriate," concluded Pignatelli.
About BIOLASE, Inc.
BIOLASE, Inc. is a biomedical company that
develops, manufactures, and markets innovative lasers in dentistry
and medicine and also markets and distributes high-end 2D and 3D
digital imaging equipment and CAD/CAM intraoral scanners; products
that are focused on technologies that advance the practice of
dentistry and medicine. The Company's proprietary laser products
incorporate approximately 300 patented and patent-pending
technologies designed to provide biologically clinically superior
performance with less pain and faster recovery times. Its innovative
products provide cutting-edge technology at competitive prices to
deliver the best results for dentists and patients. BIOLASE's
principal products are revolutionary 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. BIOLASE has sold more than 23,900 lasers. Other laser
products under development address ophthalmology and other medical
and consumer markets.
For updates and information on WaterLase and laser dentistry, find
BIOLASE online at www.biolase.com, Facebook at
www.facebook.com/biolase, Twitter at www.twitter.com/biolaseinc,
Pinterest at www.pinterest.com/biolase, LinkedIn at
www.linkedin.com/company/biolase, Google+ at
www.google.com/+BIOLASEIrvine, Instagram at
www.instagram.com/biolaseinc and YouTube at
BIOLASE(R) and WaterLase(R) are registered trademarks of BIOLASE,
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995
Statements contained in this press release that refer to
BIOLASE's estimated or anticipated future results or other
non-historical facts are forward-looking statements, as are any
statements in this press release concerning prospects related to
BIOLASE's strategic initiatives, product introductions and
anticipated financial performance. Forward-looking statements can
also 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.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect BIOLASE's current
perspective of existing trends and information and speak only as of
the date of this release. Actual results may differ materially from
BIOLASE's current expectations depending upon a number of factors
affecting BIOLASE's business. These factors include, among others,
adverse changes in general economic and market conditions,
competitive factors including but not limited to pricing pressures
and new product introductions, uncertainty of customer acceptance of
new product offerings and market changes, risks associated with
managing the growth of the business, and those other risks and
uncertainties that may be detailed, from time-to-time, in BIOLASE's
reports filed with the SEC. BIOLASE does not undertake any
responsibility to revise or update any forward-looking statements
For further information, please contact:
Porter, LeVay & Rose, Inc.
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