Leading dental laser maker BIOLASE Technology (BLTI) has won regulatory approval in Canada to market its WaterLase iPlus all-tissue dental laser across the North American nation. Canada, with roughly 19,000 licensed dentists, has been one of the key markets for the company’s products. BIOLASE markets its products in that country through a direct sales force and distributors.
Waterlase iPlus was launched in the U.S. in early 2011. Besides addressing the key functional needs of laser dentists, the device also doubles the power and cutting speed with unmatched control and versatility for novices as well as experienced users.
The approval of this novel product in Canada represents a major milestone for BIOLASE as the Canadian dental community is among the world’s most high tech-centric and very receptive to laser technology.
BIOLASE develops and markets lasers and related products for applications in medicine and dentistry. Its key products are dental laser systems that perform a broad spectrum of dental procedures, including cosmetic and complex surgical applications.
The company recently reported its results for second-quarter 2011 with revenues more than double year over year to roughly $12 million. Sequentially, this represented a 14% growth.
The significant growth in revenues was mostly attributable to the healthy demand for the WaterLase iPlus laser, which contributed roughly 63% of total sales for the quarter. The device is shaping up to be a major future growth driver.
The California-based company, in its second quarter commentary, also noted that it was unable to deliver roughly $2 million of orders booked in the quarter by June 30, 2011, given a major change in orders placed by dental products distributor Henry Schein (HSIC) and the resulting supply chain delays.
Henry Schein originally had two pre-paid purchase orders worth $9 million for BIOLASE’s iLase dental lasers but made a late change in its order to a combination of Waterlase iPlus and the ezlase laser systems. Nevertheless, BIOLASE completed the final portion of this order on August 10, ahead of the contractual due date of August 25.
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