American Dental Technologies Acquires The Dental Probe, Inc.SOUTHFIELD, Mich.--(BW HealthWire)--Feb. 18, 1998--American Dental Technologies, Inc. (NASDAQ/NMS:ADLI) announced today it has completed its acquisition of The Dental Probe, Inc. ("TDP TDP (thymidine diphosphate): see thymine. "). TDP is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. which manufactures and markets the Interprobe, which was originally developed by Bausch and Lomb and a second generation unit, the Probe One. TDP has two patents and the exclusive rights under the base patent for precision automated probing. Jack Singer, president of TDP, will be retained as a consultant to develop additional enhancements and other dental products for American Dental Technologies. American Dental Technologies acquired 100% of TDP's outstanding stock in exchange for $250,000 cash and 61,500 shares of American Dental Technologies common stock. Additional financial information will be made available upon completion of the usual regulatory filings. "We are pleased with this acquisition," said Ben J. Gallant, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "The Probe One will be a valuable diagnostic tool for dentists using our lasers in a soft tissue management program under our FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. clearance for laser curettage curettage /cu·ret·tage/ (ku?re-tahzh´) [Fr.] the cleansing of a diseased surface, as with a curet. medical curettage . There are already greater than 1,400 units in the field and we believe that through the Company's dental distribution, the Probe One will contribute to the Company's growth." The Probe One's proprietary design, using a fiber filament filament, in astronomy: see chromosphere. combined with optical technology and computer assisted graphics, allows the dentist or hygienist to probe with greater accuracy. An automatic printout record provides a baseline for diagnosis and also serves as documentation for patient files, insurance submission and risk management. "This product fits perfectly with our goal of adding new high tech products to our product line," Mr. Gallant said. "It will be a strong adjunctive product in connection with our sales of lasers. We are pleased to have Mr. Singer working with us to develop additional high technology products." American Dental Technologies, headquartered in Southfield, Michigan Southfield is a city in Oakland County of the U.S. state of Michigan. It is a suburb of Detroit and is part of the metro Detroit area. As of the 2000 census, the city had a total population of 78,296. Southfield Township is adjacent to the city on the north side. , develops and manufactures advanced technologies for dentistry and markets them worldwide. It is listed on the Nasdaq National Market under the symbol ADLI. Its home page for financial information is found at www.businesswire.com under the category "corporate news on the net". CONTACT: American Dental Technologies Diane Miller, 248/353-5300 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion