Jan 29 2008
Laser Energetics, Inc. announced today that it has received an order for a fully developed, pre-production clinical laser system with an order value of $550,000. The laser system is based on Laser Energetics' proprietary and patent protected BrightStar(TM) Alexandrite laser.
The order was placed by Hygenilase, Inc. Hygenilase is a newly-formed joint venture between Laser Energetics and Lantis Laser, Inc. of Denville, NJ (Pink Sheets: LLSR). Hygenilase, will market Laser Energetics' BrightStar(TM) Alexandrite laser for the dental application of cleaning teeth below and above the gum line. Hygenilase, Inc. is owned equally by Laser Energetics, Inc. and Lantis Laser, Inc.
Previously, Laser Energetics received an order from the joint venture for an Alexandrite development laser, and a cost-to-manufacture study to evaluate the cost of manufacturing the new compact Alexandrite laser for a specification needed to address the dental market. The study was successfully completed.
Robert D. Battis, Chairman and Chief Executive Officer of Laser Energetics, said, "We intend to use this Joint Venture transaction as a model for future business relationships with other companies in different medical laser market segments. Upon formation of new joint ventures, we will receive cash up front for the design and manufacture, and share in the profits generated with our partners' sales and marketing expertise in the particular market they serve."
Battis continued, "In this Joint Venture our goal is to take LEI's expertise in Alexandrite lasers and combine it with the expertise that Lantis Laser has in the field of dentistry. It is estimated that there are 100,000 dental offices in the US, and another 100,000 offices in Europe, Japan and other first world countries. Our expectation is that we will be selling BrightStar(TM) into this market at a price that is highly competitive and profitable. We expect to be in a position to make several announcements regarding these developments in the near future."