Discus Dental Finalizes Acquisition of BriteSmile ''Associated Centers'' Worldwide.CULVER CITY, Calif. -- Discus Dental, Inc., a leading direct manufacturer and marketer of professional and consumer dental products, today announced it has completed the acquisition of BriteSmile, Inc.'s (NasdaqSC: BSML BSML Bioinformatic Sequence Markup Language ) "Associated Center" business and substantially all of BriteSmile's intellectual property in exchange for approximately $35 million in cash. In connection with the purchase of these assets, Discus Dental and BriteSmile have settled all outstanding litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. between the two companies. BriteSmile's Associated Center business consists of approximately 5,000 independent dental offices in more than 40 countries globally. Each Associated Center utilizes the BriteSmile light-activated teeth whitening system consisting of the whitening light and the procedure kit. "The completion and successful integration of this acquisition not only establishes Discus Dental as the dominant company in the light-activated chairside whitening category but also as the world leader in professional whitening," stated Robert Hayman, President & 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. of Discus Dental, Inc. Discus Dental will continue to manufacture, market, distribute and provide ongoing support for all BriteSmile Associated Centers. The transaction was managed by Houlihan, Lokey, Howard & Zukin and Phoenix Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control as co-financial advisors, providing M&A and corporate finance services along with additional legal services provided by Cooley Godward, LLP LLP - Lower Layer Protocol . Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. served as the lead in the financing of the transaction on behalf of Discus Dental, Inc. Discus Dental: Founded in 1993, Discus Dental, Inc. is a leading global direct manufacturing marketer of premium dental products to both dental professionals and consumers. The company also provides state-of-the-art practice management software, practice enhancement products & services, as well as expert industry training for the professional dental community. Discus Dental is headquartered in Culver City, California Culver City is a city in western Los Angeles County, California. As of the 2000 census, the city had a population of 38,816. The community is mostly surrounded by the city of Los Angeles but also has a border with unincorporated areas of Los Angeles County. . More information is available at www.discusdental.com. |
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