Boston, MA 02/19/2014 (wallstreetpr) – BIOLASE Inc. (NASDAQ:BIOL) has signed an agreement with Stratasys Inc. (NASDAQ:SSYS) of which it will become the sole distributor of Stratasys’s Object30 OrthoDesk and a number of other High end 3D printers. Object30 OrthoDesk uses accurate and precise 3D technology with only a small footprint that is easy to use, it comes with a specialized dental printing materials that is necessary for sealed cartridges.
The new Object30 OrthoDesk will be of most benefit to dentist as they will be able to fabricate stone models easily and also orthodontic appliances as well as providing surgical guidance’s for their desktop. BIOLASE Chairman and CEO could not hide his excitement of being chosen as the first distributor for Stratasys 3D printing products. In the new digital era of Dentistry, 3D printing is expected to be the real deal in the industry in terms of efficiency.
3D printing combines high end digital imaging with intra oral scanning as well as chair side milling of which will be highly beneficial to dental offices in producing a wide range of restorations. Stratasys Inc. (NASDAQ:SSYS) Vice president Craig Perry maintains their Object30 series is the world’s most versatile printer as it is more compact easy to use and extremely affordable.
BIOLASE $5 million placement with Oracle Investment management Inc.
BIOLASE Inc. (NASDAQ:BIOL) announced it had entered into a private placement with Oracle partners LP worth $5 million, the placement will give it the financial power to pay for its credit facilities requirements with Comerica bank which as of December 31, 2013 stood at $4.6 million. The capital fusion will also go a long way in strengthening BIOLASE balance sheet
The capital structure is also aimed at placing BIOLASE Inc. (NASDAQ:BIOL) at a strategic position necessary for growth and bring the much needed sustainability and profitability. BIOLASE has in the recent past been moving away from its core dental applications evidenced by its development of the Dragon technology.
BIOLASE Inc. (NASDAQ:BIOL) on its full year outlook for F2014 expects to register net revenues totaling $15.25 million at the back of strong 4Q 2013 results. This is especially after the termination of its contract with Henry Schein in August 2010. Fiscal year 2013 was essentially a year of transition for BIOLASE after experiencing rapid growth in the previous two years. The company continues to broaden its dental line with new diode laser line.
