Leading dental laser maker BIOLASE Technology (BLTI) has clinched regulatory approval in South Korea to market its new WaterLase iPlus all-tissue dental laser across the Northeast Asian nation.
South Korea, with an estimated 25,000 licensed dentists and 16,000 dental clinics, represents a lucrative market for WaterLase iPlus. More than 1,000 practices in South Korea currently use BIOLASE’s dental lasers.
Waterlase iPlus was launched in the U.S. in early 2011. Besides addressing the key functional needs of laser dentists, the device also doubles the power and cutting speed with unmatched control and versatility for novices as well as experienced users.
The approval of this novel product in South Korea represents another major milestone for BIOLASE as the dental practitioners in that country are high tech-centric and very receptive to laser technology. The company has also recently received regulatory clearances in Russia, Canada and Taiwan to market WaterLase iPlus.
BIOLASE noted that it will commence the formal launch of WaterLase iPlus in Seoul on December 10. The device will be marketed by Seoul-based MJ DMT, the company’s distribution partner in South Korea. MJ DMT has already started taking orders for WaterLase iPlus and commenced an aggressive promotional campaign.
BIOLASE develops and markets lasers and related products for applications in medicine and dentistry. Its key products are dental laser systems that perform a broad spectrum of dental procedures, including cosmetic and complex surgical applications.
BIOLASE’s revenues more than doubled year over year in the third quarter to $13.1 million. The company stated that the healthy growth was mainly attributable to its exit from an exclusive distribution arrangement with Henry Schein (HSIC) and return to a direct sales and multi-distributor model.
The company’s WaterLase systems accounted for roughly 63% of total sales in the quarter with the Waterlase iPlus laser contributing the most. The device is shaping up to be a major future growth driver.
