BIOLASE Technology, Inc., a medical technology company focused on the dental laser market, today announced that it has acquired a laser production facility near Munich, Germany, from Asclepion-Meditec AG, a major medical laser manufacturer trading under the symbol AFX on the Neuer Markt.
The new facility will supply the increasing demand for BIOLASE's dental lasers in the European Community, Eastern Europe and the Middle East. The facility, which is ISO 9001 certified, now operates as BIOLASE Europe GmbH. It consists of two buildings equipped for laser production that will substantially increase the company's production capacity. BIOLASE Europe also has a highly qualified technical staff experienced in laser principles and design, delivery systems, optics, technical service and field support. BIOLASE Europe will manufacture both the Waterlase(TM) and LaserSmile(TM) in Germany, provide direct support for an expanding international dealer network and contribute to the company's ongoing research and development of new products.
Jeffrey W. Jones, BIOLASE CEO and President, commented, "The terms of this acquisition were very advantageous for both parties and allow us to significantly lower costs, both in production and engineering, while expanding production capacity now and for future growth. This new facility and staff will play an important role in growing our international business and provides the company with the infrastructure to aggressively penetrate the European laser market. We expect our European activities to contribute more significantly to our overall revenue and profitability for this year and beyond."
Jones continued, "Before making this move into Germany, we had modeled overall production capacity levels, growth rate, installed base, customers and university relationships. We had reached these levels and growth rate when the opportunity to acquire this facility and personnel was developed. We are impressed with the dedication to quality that our new German staff has already demonstrated. They have excellent technical skills and experience with lasers that will allow them to quickly ramp up production of the Waterlase and LaserSmile systems. We expect this facility to be immediately accretive and productive."