DISCUS DENTAL SIGNS ASSET PURCHASE AGREEMENT TO ACQUIRE BRITESMILE "ASSOCIATED CENTERS" WORLDWIDE
(Culver City, CA), January 3, 2006 – Discus Dental,
Inc., a leading direct manufacturer and marketer of professional and
consumer dental products, today announced it has signed a definitive
agreement to purchase the assets of BriteSmile, Inc.'s (Nasdaq: BSML)
"Associated Center" business and substantially all of BriteSmile's
intellectual property in exchange for $35,000,000 in cash and the assumption
of certain liabilities of the Associated Center business. In connection
with the purchase of these assets, Discus Dental and BriteSmile have
also agreed to settle all outstanding litigation between the two companies.
The closing of the transaction, targeted for February 2006, is subject
to various conditions, including the approval of BriteSmile's shareholders
and a customary financing contingency.
BriteSmile's Associated Center business consists of approximately 5,000
independent dental offices in more than 75 countries globally. Each
Associated Center utilizes the BriteSmile light-activated teeth whitening
system consisting of the whitening light and the procedure kit.
"The acquisition of the 5,000 plus BriteSmile Associated Centers
further consolidates our lead as the premier worldwide solution within
the one-hour, light-activated whitening category – the fastest-growing
category of the professional global whitening business," stated
Robert Hayman, CEO of Discus Dental, Inc.
Following the close of the sale, Discus Dental will manufacture, market
and distribute BriteSmile whitening products and accessories to BriteSmile
Associated Centers and provide ongoing support for all the BriteSmile
Associated Centers.
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. More information is available at www.discusdental.com.
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