SOURCE: BIOLASE Technology, Inc.

BIOLASE Technology, Inc.

November 30, 2010 09:00 ET

BIOLASE Appoints Accounting Veteran, Former Audit Partner Frederick D. Furry as the New Chief Financial Officer

IRVINE, CA--(Marketwire - November 30, 2010) - BIOLASE Technology, Inc. (NASDAQ: BLTI), the world's leading dental laser company, announced today that accounting veteran and former audit partner Frederick D. Furry has been appointed Chief Financial Officer, effective immediately, filling the vacant position. Furry will report directly to Chief Executive Officer Federico Pignatelli.

Furry, 42, a resident of Huntington Beach and a certified public accountant with expertise in audit, U.S. Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) reporting, has more than 18 years experience working for accounting firms which include Windes & McClaughry, Pricewaterhouse Coopers and Miller, Kaplan, Arase & Co. 

"Fred's financial skills and strong experience as a senior executive and Partner at major accounting firms will be an invaluable asset at BIOLASE as we continue on a path to return to growth and profitability," said Pignatelli. "We have made significant progress in turning around the Company and are committed to controlling our costs and improving our balance sheet. This completes the appointment of an entirely new senior executive management team and new board of directors. We look forward to Fred's contributions." 

As part of his compensation, Furry has been granted 150,000 options, to vest over a three year period, with a five year term and a strike price of $2.00. 

Furry began his 11-year tenure at Windes & McClaughry, a regional accounting firm and recognized leader in the field of accounting assurance, tax and consulting services, as an audit and assurance manager in 1998. He was promoted to Partner in 2004 and was integral in the establishment of Windes' SEC practice. Prior to this, he was an audit manager at Pricewaterhouse Coopers, a global public accounting firm and a leader in the industry.

He holds a B.S. degree in business administration and a M.B.A. degree in Management & Accounting from the University of California, Riverside.

About BIOLASE Technology, Inc.
BIOLASE Technology, Inc., the world's leading dental laser company, is a medical technology company that develops, manufactures and markets lasers and related products focused on technologies that advance the practice of dentistry and medicine. The Company's products incorporate patented and patent pending technologies designed to provide clinically superior performance with less pain and faster recovery times. BIOLASE's principal products are dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications. Other products under development address ophthalmology and other medical and consumer markets.

For updates and information on laser and Waterlase dentistry, find BIOLASE at http://www.biolase.com, Twitter at http://twitter.com/GoWaterlase, and YouTube at http://www.youtube.com/user/Rossca08.

This press release may contain forward-looking statements within the meaning of safe harbor provided by the Securities Reform Act of 1995 that are based on the current expectations and estimates by our management. These forward-looking statements can be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will," and variations of these words or similar expressions. Forward-looking statements are based on management's current, preliminary expectations and are subject to risks, uncertainties and other factors which may cause the Company's actual results to differ materially from the statements contained herein, and are described in the Company's reports it files with the Securities and Exchange Commission, including its annual and quarterly reports. No undue reliance should be placed on forward-looking statements. Such information is subject to change, and we undertake no obligation to update such statements.

Contact Information

  • For further information, please contact:
    Jill Bertotti
    Allen & Caron
    +1-949-474-4300