FOOTHILL RANCH, Calif.,
Feb. 23, 2021 /PRNewswire/
-- BIOLASE, Inc. (NASDAQ: BIOL), a global leader in
dental lasers, today announced that the Board of Directors has
appointed John R. Beaver, the
Company's current Executive Vice President, Chief Operating Officer
and Chief Financial Officer as its President and Chief Executive
Officer, effective February 23, 2021.
Todd Norbe, who has served as
President and CEO since August 2018,
has resigned from his position, including his board seat, to pursue
other interests.
"John's knowledge of the dental industry, combined with his
executive management and financial expertise, make him ideal to
lead BIOLASE as we pursue our growth plans," said Jonathan T. Lord, Chairman of the Board of
Directors. "Since joining BIOLASE in 2017, John has spent
considerable time in the field with dentists and our sales team
ensuring that we are meeting the needs of the dental market. It is
this hands-on approach that enabled John to develop and lead our
Waterlase Exclusive Trial Program, which is off to a great start in
2021. Additionally, he has been heavily involved in our marketing
efforts, and most recently launched our collaboration with the BMW
Performance Center West. He has continuously demonstrated his
strategic capabilities and has showcased his team-player approach
with distinction since joining the Company. Further, John's
leadership skills were on full display as he was primarily
responsible for strengthening our balance sheet, resulting in
current cash on hand of approximately $40
million. On behalf of the Board of Directors, we
congratulate John on this well-deserved recognition, and we look
forward to working with him to achieve our shared vision and goals.
I would also like to thank Todd for his efforts in helping turn
around BIOLASE and wish him well in his future pursuits."
"This is a critically important time for BIOLASE, and I want to
thank the Board of Directors for entrusting me to lead the Company
during this growth phase," commented Mr. Beaver. "As dental
practitioners adapt to the current COVID-19 pandemic, it is clear
they are turning to BIOLASE to help them ensure their patients are
being cared for in a safe environment, as well as to help them grow
their business. The success of our recent financings ensures we
have the resources to execute our growth plan. We are
well-positioned with our industry-leading products and the strong
team we have assembled. I look forward to working closely
with them to achieve BIOLASE's full potential."
Mr. Beaver joined BIOLASE in 2017 as Senior Vice President and
Chief Financial Officer. He assumed roles of varying
responsibilities over the past few years, including Interim Chief
Executive Officer of BIOLASE from April
2017 until the hiring of Mr. Norbe.
Mr. Beaver has a Bachelor of Business Administration degree in
Accounting from the University of Texas at
Austin and is a Certified Public Accountant.
About BIOLASE, Inc.
BIOLASE is a medical device
company that develops, manufactures, markets, and sells laser
systems in dentistry and medicine. BIOLASE's products advance the
practice of dentistry and medicine for patients and healthcare
professionals. BIOLASE's proprietary laser products incorporate
approximately 271 patented and 40 patent-pending technologies
designed to provide biologically and clinically superior
performance with less pain and faster recovery times. BIOLASE's
innovative products provide cutting-edge technology at competitive
prices to deliver superior results for dentists and patients.
BIOLASE's principal products are revolutionary dental laser systems
that perform a broad range of dental procedures, including cosmetic
and complex surgical applications. BIOLASE has sold over
41,200 laser systems to date in over 80 countries around the world.
Laser products under development address BIOLASE's core dental
market and other adjacent medical and consumer applications.
For updates and information on Waterlase iPlus®, Waterlase
Express™, and laser dentistry, find BIOLASE online at
www.biolase.com, Facebook at www.facebook.com/biolase, Twitter at
www.twitter.com/biolaseinc, Instagram at
www.instagram.com/waterlase_laserdentistry, and LinkedIn at
www.linkedin.com/company/biolase.
BIOLASE®, Waterlase® and Waterlase iPlus® are registered
trademarks of BIOLASE, Inc.
Note on Forward-looking Statements
This press release
contains forward-looking statements, as that term is defined in the
Private Litigation Reform Act of 1995, that involve significant
risks and uncertainties, including statements regarding anticipated
fourth-quarter results. Forward-looking statements can be
identified through the use of words such as "anticipates,"
"expects," "intends," "plans," "believes," "seeks," "estimates,"
"may," "will," "should," and variations of these words or similar
expressions. Readers are cautioned not to place undue reliance on
these forward-looking statements, which reflect BIOLASE's current
expectations and speak only as of the date of this release. Actual
results may differ materially from BIOLASE's current expectations
depending upon a number of factors. These factors include, among
others, adverse changes in general economic and market conditions,
competitive factors including but not limited to pricing pressures
and new product introductions, uncertainty of customer acceptance
of new product offerings and market changes, risks associated with
managing the growth of the business, and those other risks and
uncertainties that are described, from time-to-time, in the "Risk
Factors" section of BIOLASE's annual reports filed on Form 10-K
with the Securities and Exchange Commission. Except as required by
law, BIOLASE does not undertake any responsibility to revise or
update any forward-looking statements.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/john-r-beaver-promoted-to-president-and-chief-executive-officer-of-biolase-will-leverage-dental-knowledge-and-management-expertise-to-achieve-growth-objectives-301233195.html
SOURCE BIOLASE, Inc.