BIOLASE Cuts Jobs

BIOLASE Technology, Inc., a major competitor in the dental laser market, announced that it has eliminated 20 positions and made additional cost-cutting measures across the organization,in order to better position the company for future profitability.

In connection with the corporate restructuring activities came the departure of BIOLASE Technology Chief Financial Officer Brett L. Scott. Scott's responsibilities will be taken on, for an interim period, by BIOLASE Technolog Chairman and CEO David M. Mulder and by BIOLASE's corporate controller.

The reduction in headcount along with additional expense reduction activities are expected to reduce corporate expenses by approximately $3 million on an annual basis. The company is expected to incur approximately $70,000 in charges in the second quarter of 2010 related to severance and other non-recurring expenses related to the restructuring.