Contact Information: Remedent Company Contacts: Stephen Ross Chief Financial Officer Remedent, Inc. Tel 310-922-5685 Remedent Investor Relations: Ron Both Managing Director Liolios Group, Inc. Tel (949) 574-3860 Den-Mat Contact Mike Beyer Sam Brown Inc. Tel 773-463-4211
Remedent and Den-Mat Holdings Sign Exclusive North American Distribution Agreement for FirstFit, a Revolutionary Solution for Dental Bridges & Crowns
| Source: Remedent, Inc.
DEURLE, BELGIUM and SANTA MARIA, CA--(Marketwire - June 9, 2009) - Two leaders in cosmetic
dentistry, Remedent, Inc. (OTCBB : REMI ) and Den-Mat Holdings, LLC, have
signed an exclusive North American distribution agreement for Remedent's
new FirstFit™ technology.
FirstFit is a revolutionary patent-pending system for the creation and
placement of dental bridges and crowns, which was announced by Remedent
earlier today. California-based Den-Mat is the world's largest producer of
dental veneers, and is an established marketing and technology partner of
Remedent's.
The FirstFit system requires no temporary placements, creates less mouth
trauma and takes fewer office visits to complete. With economic benefits
for both patients and dentists, the new technology addresses an expanding
U.S. market for dental crowns and bridges, and has the potential to change
the way modern dentistry is practiced.
"This agreement builds upon our partnership which began with Lumineers and
will significantly expand our presence in the North American professional
dental market," said Guy De Vreese, CEO of Remedent. "We greatly value
Den-Mat's substantial commitment of resources to FirstFit, as we introduce
the many revolutionary features and benefits the new technology offers both
dentists and the consumer. This agreement reflects the tremendous potential
we both see with FirstFit."
The terms of the agreement grant Den-Mat an exclusive right to market,
license and sell FirstFit products in the United States, Canada, and Mexico
in consideration for a non-refundable $400,000 development fee and a
non-refundable $600,000 license fee payable to Remedent in installments, as
well as certain royalty payments based on the sales of the FirstFit
products by Den-Mat (or its sublicensees) and certain minimum royalty
payments to maintain its exclusivity under the agreement.
The agreement is subject to satisfaction or waiver of certain closing
conditions which includes, in addition to customary closing conditions, due
diligence completed to Den-Mat's satisfaction with respect to the FirstFit
products; delivery of legal opinion and certain executed non-competition
agreements; and delivery of the development payment and first installment
of the license payment.
About Den-Mat Holdings, LLC
California-based Den-Mat Holdings, LLC is a leading manufacturer and
marketer of advanced cosmetic and restorative dental products and
laboratory services that allow a dentist to preserve, restore and enhance
their patient's teeth typically without the requirement for anesthesia,
extensive cutting, drilling and tooth removal. This revolutionary type of
dentistry not only focuses on superior esthetic results, but on patient
comfort and convenience as well. Den-Mat's revolutionary LUMINEERS® BY
CERINATE® are porcelain veneers that offer a painless way to a
permanently whiter and perfectly aligned smile. LUMINEERS are the only
porcelain laminates that are strong, reversible, and have a proven record
of over 20 years of clinical success. The dentist applies these contact
lens-thin veneers to teeth without the need for the shaving and grinding
down of sensitive tooth structure that is common with traditional veneers.
Den-Mat is a unit of DLJ Merchant Banking Partners, a private equity
investment affiliate of Credit Suisse. For additional information, visit
www.denmat.com.
About Credit Suisse
As one of the world's leading banks, Credit Suisse provides its clients
with investment banking, private banking and asset management services
worldwide. Credit Suisse offers advisory services, comprehensive solutions
and innovative products to companies, institutional clients and high-net
worth private clients globally, as well as retail clients in Switzerland.
Credit Suisse is active in over 50 countries and employs approximately
40,000 people. Credit Suisse's parent company, Credit Suisse Group, is a
leading global financial services company headquartered in Zurich. Credit
Suisse Group's registered shares (CSGN) are listed in Switzerland and, in
the form of American Depositary Shares (CS), in New York. Further
information about Credit Suisse can be found at www.creditsuisse.com.
About Remedent
Remedent, Inc. specializes in the research, development, manufacturing and
marketing of oral care and cosmetic dentistry products. The company serves
professional dental industry with breakthrough technology for dental
veneers, bridges and crowns which are recognized worldwide for their
technological superiority and ease-of-application. These products are
supported by a line of professional veneer whitening and teeth sensitivity
solutions. Headquartered in Belgium, Remedent distributes its products to
more than 35 countries worldwide. For more information, go to
www.remedent.be.
Statement under the Private Securities Litigation Reform Act of 1995
Statements in this press release that are "forward-looking statements" are
based on current expectations and assumptions that are subject to risks and
uncertainties. Such forward-looking statements involve known and unknown
risks, uncertainties and other unknown factors that could cause Remedent's
actual operating results to be materially different from any historical
results or from any future results expressed or implied by such
forward-looking statements. In addition to statements that explicitly
describe these risks and uncertainties, readers are urged to consider
statements that contain terms such as "believes," "belief," "expects,"
"expect," "intends," "intend," "anticipate," "anticipates," "plans,"
"plan," "projects," "project," to be uncertain and forward-looking. Actual
results could differ materially because of factors such as Remedent's
ability to achieve the synergies and value creation contemplated by the
proposed transaction. For further information regarding risks and
uncertainties associated with Remedent's business, please refer to the risk
factors described in Remedent's filings with the Securities and Exchange
Commission, including, but not limited to, its annual report on Form 10-K
and quarterly reports on Form 10-Q.
Trademarks mentioned in this release are the property of their respective
owners