Irvine-based Biolase Inc. received Food and Drug Administration clearance for its Epic Pro laser system, a new, higher powered soft tissue laser. Biolase develops, manufactures and sells dental lasers, including some for use on soft tissue when treating periodontal, or gum, diseases, and others that also target hard tissues, such as teeth and bone. It also distributes dental imaging equipment, including digital X-rays and CAD/CAM scanners.
The medical device company’s market cap is about $100 million.
“Epic Pro expands our diode [laser] line, [allowing us to have] a full range from entry-level––the handheld portable laser pen iLase––to the mid-range Epic X line, and our new premium diode laser Epic Pro,” said Chief Executive Harold Flynn.
The new laser, which includes real-time temperature monitoring and automatic power control, was developed by Biolase and IPG Medical Corp., a subsidiary of IPG Photonics Corp. in Oxford, Mass. Advancements include improved cutting speed, control and precision, according to a company news release.
“[The new laser] allows us to access markets we haven’t been able to before. Some oral surgeons don’t use diode lasers because [the lasers] don’t cut fast enough for their liking. We think this new model will get those who were never interested before interested,” Flynn said.
ILase, Epic X and Epic Pro retail for $3,000, $8,500 and $14,500, respectively, according to the company’s website.
Biolase reported worldwide revenue of $13.2 million—including a loss $3.1 million—in its third quarter, with a 33% increase in U.S. sales and a 4% decrease internationally, according to Securities and Exchange Commission filings. Revenue increased by $2 million compared to a year earlier.
Flynn said the company looks to develop new products and grow sales internationally. It named industry veteran Holger Arens to head the newly created position of vice president and managing director for Europe, the Middle East and Africa. Arens is based in Germany.
“The three markets––Europe, Middle East and Africa––are the same size, if not larger than the U.S.,” Flynn said. “We think if we can hit those markets by way of [our] U.S. penetration, it will be significant growth to the company.”
Teva Closure
Jerusalem-based Teva Pharmaceutical Industries Ltd. reported 141 permanent layoffs at Teva Pharmaceuticals USA Inc. in Corona from July 1 to Jan. 10, according to data from the state Employment Development Department.
The layoffs were a result of the closure of the Corona site by Actavis, now Allergan PLC. Teva inherited the plant closure when it acquired Allergan’s generic business in August, according to a Teva spokesperson, who said Teva’s Irvine site, which manufactures products in oncology and general injectable products, has approximately 300 employees and is hiring.
New Device Maker Exec
Mission Viejo-based Integrated Endoscopy Inc. named David Bailie chief medical officer and chairman of its surgeon advisory board.
The arthroscopic surgery-focused medical device company makes single-use arthroscopes.
Bailie is founder and president of the Arizona Institute for Sports, Knees and Shoulders and has served as orthopedic consultant or team physician for professional sports teams.
Bits & Pieces
Southern California Permanente Medical Group, the physician arm of Kaiser Permanente in Orange County that provides care to nearly 65,000 Medicare members, received a five-star rating from the California Office of the Patient Advocate. Nearly 200 medical groups statewide were rated on 13 measures, including rates of breast and colorectal cancer screenings, and six medical groups attained a five-star rating. … KeraMed Inc. in Orange, along with 36 small businesses and other individuals, was awarded the Tibbetts Award from the Small Business Administration. The award recognizes small high-tech companies in research and development. … LabRoots Inc. in Yorba Linda was named “Best Science & Technology Social Networking Service” by Corporate American News. LabRoots provides an online social networking platform for the life sciences and clinical diagnostic community.
