Dr. Kwang Bum Park, the CEO of South Korean-based MegaGen Implant Co., said the dental implant company plans to "restore the glory" of Biolase after its acquisition of the dental laser manufacturer.
Six notes:
1. Dental laser company Biolase filed for Chapter 11 bankruptcy in October.
2. MegaGen was approved by a judge to acquire Biolase's assets for more than $20 million Nov. 15.
3. MegaGen plans to form a U.S. subsidiary to complete the transaction, according to court documents.
4. Dr. Park said in a Dec. 1 news release that he previously used Biolase's technology as a clinician, but became a "passive user" because of the company's "disappointing" service system.
5. Dr. Park said MegaGen will restore "the glory of Biolase's golden era," and expand the use of laser technology while earning the trust of Biolase's customers.
6. MegaGen was founded in 2002 by more than 70 dentists, and is the largest dental implant exporter to the U.S. and Europe, according to the news release.