BIOLASE Expands Core Capabilities As It Appoints Three New Board Members With Significant Dental Experience

Rhea-AI Summary

BIOLASE, Inc. (NASDAQ: BIOL) has appointed three new board members: Dr. Kathleen T. O'Loughlin, Dr. Carol Gomez Summerhays, and Dr. Martha Somerman, effective immediately. These appointments aim to enhance the Board's capabilities as the company pursues an aggressive growth strategy in the dental laser market. O'Loughlin brings experience from the American Dental Association, Summerhays is a former ADA president, and Somerman has a history with NIH. The Board now consists of nine members. Previous members Dr. Michael DiTolla and Garrett Sato resigned to pursue other interests.

Positive

• Appointment of three experienced board members to enhance strategic direction.
• Diverse backgrounds in dental practice and research will support growth strategy.
• Expansion of the Board to nine members may improve governance and oversight.

Negative

• Resignation of two board members could indicate instability or a shift in strategy.

FOOTHILL RANCH, Calif., Aug. 16, 2021 /PRNewswire/ -- Demonstrating a deep commitment to expanding the core capabilities and diversity of its Board of Directors, BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, today announced it has appointed three new board members to its Board of Directors (the "Board"), effective immediately. Drs. Kathleen T. O'Loughlin, Carol Gomez Summerhays, and Martha Somerman join a Board that has been instrumental in establishing and implementing the Company's business plan, which has demonstrated significant growth over the past several quarters.

"As we embark on an aggressive growth strategy, I am pleased to welcome the new Board members as their extensive experience in dental practice, translational and clinical research, and dental education will be extremely helpful as we continue to execute on the BIOLASE business plan," commented Jonathan T. Lord, M.D., Chairman of the Board of BIOLASE. "We are delighted to have each of these women join our board and look forward to their contributions as we continue to execute on our plan for long-term growth."

The new Board members are proven leaders and will enable the Company to achieve its growth prospects:

• Dr. Kathleen T. O'Loughlin is currently the Executive Director of the American Dental Association and is retiring from the American Dental Association by the end of this year. Previously, Dr. O'Loughlin served as Chief Dental Officer of United Health Group, and from 2002 to 2008 she served as President and Chief Executive Officer of Delta Dental of Massachusetts. Dr. O'Loughlin serves on the Board of Directors of the American Dental Association and previously served as a Trustee at Tufts University. Dr. O'Loughlin received her Masters in Public Health from Harvard University, a Doctor of Dental Medicine, Summa Cum Laude, from Tufts University, and a B.A from Boston University.
  
  
• Dr. Carol Gomez Summerhays is currently the Chair of the Board of Councilors of the University of Southern California Ostrow School of Dentistry and is a former President of the American Dental Association and President of the California Dental Association. Dr. Summerhays worked in private dental practice from 1982-2015. Dr. Summerhays served in the United States Navy Dental Corps from 1974 to 1989. Dr. Summerhays received her Doctor of Dental Surgery from University of Southern California, and B.S. from University of San Francisco.
  
  
• Dr. Martha Somerman is the Chief Field Editor of Frontiers in Dental Medicine. She was the Director, National Institute of Dental and Craniofacial Research, National Institutes of Health (NIH) from August 2011 to December 2019 and then served as a senior advisor for NIDCR until her retirement on May 31, 2021. In addition, she was the Principal Investigator for the Laboratory of Oral Connective Tissue Biology, National Institute of Arthritis and Musculoskeletal and Skin Diseases, NIH, from August 2011 to May 31, 2021. Her laboratory team focused on identifying factors controlling the development of the periodontal complex and applying this knowledge toward developing strategies to regenerate periodontal tissue lost as a consequence of disease. Prior to becoming NIDCR director, Dr. Somerman was Dean of the University of Washington School of Dentistry, a position she held since 2002. From 1991 to 2002, Dr. Somerman was on the faculty of the University of Michigan School of Dentistry where she served as a professor and chair of periodontics/prevention and geriatrics. From 1984 to 1991, Dr. Somerman was on the faculty of the University of Maryland College of Dental Surgery. Dr. Somerman received a bachelor's degree in biology and a D.D.S. from New York University, a Masters in Environmental Health from Hunter College, and a Ph.D. in Pharmacology from the University of Rochester. She completed her periodontal residency at the Eastman Dental Center in Rochester, New York and is a diplomat of the American Board of Periodontology.

In conjunction with the new appointments, Dr. Michael DiTolla and Garrett Sato (retirement) resigned as members of the Board to pursue other interests. The appointments increase the size of the BIOLASE Board to nine members.

About BIOLASE

BIOLASE is a medical device company that develops, manufactures, markets, and sells laser systems in dentistry and medicine. BIOLASE's products advance the practice of dentistry and medicine for patients and healthcare professionals. BIOLASE's proprietary laser products incorporate approximately 271 patented and 40 patent-pending technologies designed to provide biologically and clinically superior performance with less pain and faster recovery times. BIOLASE's innovative products provide cutting-edge technology at competitive prices to deliver superior 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. BIOLASE has sold over 41,200 laser systems to date in over 80 countries around the world. Laser products under development address BIOLASE's core dental market and other adjacent medical and consumer applications.

For updates and information on Waterlase iPlus®, Waterlase Express™, and laser dentistry, find BIOLASE online at www.biolase.com, Facebook at www.facebook.com/biolase, Twitter at www.twitter.com/biolaseinc, Instagram at www.instagram.com/waterlase_laserdentistry, and LinkedIn at www.linkedin.com/company/biolase.

BIOLASE®, Waterlase® and Waterlase iPlus® are registered trademarks of BIOLASE, Inc.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties, including statements regarding the anticipated roll out of new go-to-market sales strategies, the Company's efforts to achieve its goal of becoming EBITDA positive. Forward-looking statements can be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will," "should," 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 expectations 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. 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 are described, from time-to-time, in the "Risk Factors" section of BIOLASE's annual reports filed on Form 10-K with the Securities and Exchange Commission. Except as required by law, BIOLASE does not undertake any responsibility to revise or update any forward-looking statements.

 

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SOURCE BIOLASE, Inc.

FAQ

Who are the new board members appointed by BIOL on August 16, 2021?

The new board members are Dr. Kathleen T. O'Loughlin, Dr. Carol Gomez Summerhays, and Dr. Martha Somerman.

What roles do the new board members have in the dental field?

They have significant roles: O'Loughlin is the Executive Director of the American Dental Association, Summerhays is a former ADA president, and Somerman is the Chief Field Editor of Frontiers in Dental Medicine.

Why did BIOLASE appoint new board members?

The appointments aim to expand the Board's expertise as part of an aggressive growth strategy in the dental laser market.

How many members are there currently on the BIOLASE Board?

The BIOLASE Board now consists of nine members.

What impact could the new board members have on BIOLASE's growth strategy?

Their extensive experience in dental practice and research is expected to support and enhance BIOLASE's growth initiative.