BIOLASE Technology, Inc. (NASDAQ: BLTI) today announced that it finalized three regional distribution agreements in the People's Republic of China. This announcement follows the Company's August 12, 2009, announcement that it had received regulatory approval to market its Waterlase MD™ products in China.
"Three regional agreements were signed in China with partners who have gained our strong confidence," David M. Mulder, Chief Executive Officer said. The first agreement was with Shanghai Haopu Medical Instruments Co., Ltd. (Haopu) for primarily the eastern Chinese provinces and municipalities of Anhui, Fujian, Henan, Jiangsu, Jiangxi, Shandong, Shanghai and Zhejiang. Haopu is a dynamic young company with eight years of business development experience and a good reputation for customer satisfaction from their service and clinical education programs in the East China region. Mulder continued, "Haopu worked with us closely on the Chinese registration process and we very much appreciate their assistance, and look forward to moving forward together."
The second agreement is with Beijing E-Maxdent Company (E-Maxdent), covering primarily the Northern provinces and municipalities of Beijing, Gansu, Hebei, Heilongjian, Jilin, Liaoning, Qinghai, Shaanxi, Tianjin, Nei Mongol, Ningxia, Tibet and Xinjiang. Mulder said, "The principals of E-Maxdent are all dentists. They share our passion for delivering better dentistry around the world. They currently distribute other high tech dentistry equipment in North China and felt the addition of the leading dental laser brand in the world was critical to that offering."
The third agreement was with Advanced Medical Technology China Ltd. (Advanced) for primarily the southern provinces and municipalities of Guangdong, Guangxi, Hainan, Yunnan, Hunan, Guizhou, Sichuan, Chongqing and Hubei. Mulder continued, "We have worked with the principals of Advanced very successfully in Hong Kong, and they have pre-established operations on the mainland where we are very excited about extending our partnership."
"We have already started working on some initial demonstration unit orders, training and marketing plans. We expect a six- to nine-month ramp-up period and look forward to a promising future in China," Mulder concluded. Contact information for the three distributors is currently being added to the Company's website at www.biolase.com.
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