BIOLASE Appoints Veteran Healthcare Executive Brett L. Scott Chief Financial Officer
IRVINE, CA, Jul 14 (MARKET WIRE) --
BIOLASE Technology, Inc. (NASDAQ: BLTI), the world's leading dental laser
company, today announced that veteran healthcare and medical device
executive Brett L. Scott has been appointed Chief Financial Officer
(CFO), effective immediately. Scott will report directly to Chief
Executive Officer David M. Mulder.
Scott, 58, a resident of Anaheim and a certified public accountant, has
served as CFO for a variety of publicly traded medical device companies.
Most recently he was CFO at Southern California-based North American
Scientific, a medical device company that manufactures, markets and sells
products used primarily in the treatment of prostate and breast cancer.
The prostate business was sold to BEST Medical in April 2009 and the
breast business was sold to Portola Medical Inc in May 2009.
"Brett's financial skills and experience working for public companies will
prove to be very valuable for us in this important time for BIOLASE,"
Mulder said. "We have already made great strides in turning around the
Company, culminating in a profitable and cash flow positive second quarter
for 2009. We are cautiously optimistic about our long-term growth
initiatives, yet recognize that we are in challenging economic times and
remain fully committed to ongoing vigilance on our cost-controls and
improving our balance sheet. Brett's expertise and experience in
fast-growing medical device companies will be a great asset for us in this
regard. We welcome Brett to our senior executive team."
"On another note, we appreciate Fred Capallo's dedicated service to the
Company, and for serving as our interim Chief Financial Officer during
this period of transition," Mulder continued.
Prior to North American Scientific, Scott was CFO for Irvine, CA-based
Alsius Corporation from January 2006 to August 2008. At Alsius, Scott
managed the initial IPO process and was a key member of the negotiating
team during the resulting merger with Ithaka Acquisition Company, a
specified purpose acquisition company. From September 2001 to March 2005,
Scott was CFO at Irvine-based Irvine Biomedical, which was acquired by St.
Jude Medical, Inc. in 2004 and designs, develops, manufactures and markets
electrophysiology products for the minimally-invasive diagnosis and
treatment of cardiac arrhythmias.
From July 2001 to December 2002 he was CFO and a member of the Board of
Directors of Irvine, CA-based Pain Concepts Inc. that sold its product
line to Stryker Medical Inc. in October 2003. He has also been CFO at
Cardiac Science and Neuro Navigational Corporation.
Scott has a bachelor of science degree in business administration from the
University of Southern California.
About BIOLASE Technology, Inc.
BIOLASE Technology, Inc. (http://www.biolase.com), the world's leading
dental laser company, develops, manufactures and markets Waterlase
technology and lasers and related products 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 reduced pain, faster and biological 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, pain
management and other medical and consumer markets.
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.
For further information, please contact:
Jill Bertotti
Allen & Caron
+1-949-474-4300
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