BIOLASE SIGNS LEASE TO EXPAND TRAINING AND EDUCATION INITIATIVES
BIOLASE, Inc. (NASDAQ: BIOL) has signed a lease agreement in Foothill Ranch, Lake Forest, California, for a new facility aimed at enhancing its training operations and establishing its first Model Dental Office (MDO). The approximately 7,700 square feet space will support growth and marketing objectives, with construction set to begin immediately and completion expected by the end of 2022. CEO John Beaver emphasized that this expansion aligns with the company's strategy to drive revenue and education around laser dentistry, enabling hands-on training for practitioners.
- Establishment of the first Model Dental Office (MDO) to enhance training.
- Lease agreement for 7,700 square feet to support growth objectives.
- Construction expected to complete by the end of 2022.
- None.
LAKE FOREST, Calif., June 6, 2022 /PRNewswire/ -- To further accelerate the adoption of lasers as the gold standard of care in dentistry, BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, has entered into a lease agreement in Foothill Ranch in Lake Forest, California to expand its training operations footprint and establish its first ever dental office, or Model Dental Office ("MDO").
In addition to BIOLASE's corporate headquarters in Foothill Ranch, the new space will support the Company's growth and marketing objectives. The approximately three-year lease, with option to extend, is for 7,700 square feet and the Company will commence construction immediately, with expected completion by the end of 2022.
"The decision to expand our facility was a logical step in our business strategy," commented John Beaver, President and Chief Executive Officer. "The area is conveniently located next to our corporate headquarters and will expand our ability to drive revenue and laser adoption by training practitioners in a hands-on dental environment. This is a novel opportunity to educate and train, as well as produce marketing materials, create content, perform studies, and test new equipment."
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 301 patented and 32 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 43,300 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.
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.
For further information, please contact:
EVC Group LLC
Michael Polyviou / Todd Kehrli
(732) 933-2754
mpolyviou@evcgroup.com / tkehrli@evcgroup.com
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SOURCE BIOLASE, Inc.
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