SOURCE: BIOLASE Technology, Inc.

BIOLASE Technology, Inc.

July 13, 2010 06:00 ET

BIOLASE Names Federico Pignatelli Executive Vice Chairman

IRVINE, CA--(Marketwire - July 13, 2010) -  BIOLASE Technology, Inc. (NASDAQ: BLTI), the world's leading dental laser company, is pleased to announce the appointment of Federico Pignatelli as Executive Vice Chairman. Mr. Pignatelli has previously served, over the past 16 years, as Chairman of the Board, interim CEO, and President.

David M. Mulder, Chairman and Chief Executive Officer, commented, "Federico's passion and commitment to the Company are very valuable, as is his intimate knowledge of the developments of BIOLASE over the many years that he has been serving in different capacities at the Board level and in management. I am looking forward to working very closely with him in reshaping and restructuring the Company, continuing significant changes in the current business model and cost structure, and continuing to pursue technological advancements critical to our success. I view his support, business acumen, historic knowledge and leadership as important factors in making such fundamental improvements and changes with the clear goal of bringing sustained growth and profitability to BIOLASE."

Mr. Pignatelli stated, "I am enthusiastic about the future of a renewed BIOLASE, and I am looking forward to working very closely with David. Renewed growth and profitability are obtainable, and we will work hard, as a renewed and re-invigorated team, to achieve those objectives."

Mr. Pignatelli has accepted the new position with a cash compensation of $1 per year, until the Company has achieved profitability for two consecutive quarters.

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, Facebook at http://facebook.com/biolase, 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