
BriteSmile Expands Into Oral Care
Company Completes Acquisition of Important Portfolio of Intellectual Property
WALNUT CREEK, Calif., July 25 /PRNewswire-FirstCall/ -- BriteSmile, Inc. (Nasdaq: BSML), the world's leading provider of state of the art teeth whitening technology, announced today that its subsidiary, BriteSmile Development, Inc., has completed the acquisition of certain intellectual property from R. Eric Montgomery, a longtime director of BriteSmile. The acquisition would significantly expand BriteSmile's teeth whitening focus to include all types of oral care products.
BriteSmile Development has acquired or licensed key rights to Montgomery's intellectual property, which consists of over 80 United States and foreign patents and patent applications that cover a wide range of oral care products with particular emphasis in the tooth whitening area. In addition, Montgomery will consult for BriteSmile and BriteSmile Development on an exclusive basis in field and will be joining the Board of BriteSmile Development.
"The completion of our exclusive consulting agreement with Eric is a key component in our strategy to expand BriteSmile's position into the broader category of oral care products," said John Reed, CEO of BriteSmile. "Eric has made significant contributions to the BriteSmile teeth whitening technology and we are excited to continue our work with him in our expanded partnership."
"Having worked extensively with BriteSmile in the past, I am excited about the opportunities this expanded consulting agreement provides to work collectively in advancing BriteSmile's broader new product development goals," said Montgomery.
BriteSmile will pay Montgomery between $5.0 and 6.0 million for the acquired rights, depending upon certain contingencies.
BriteSmile (Nasdaq: BSML) has developed and manufactures the most advanced teeth whitening technology available, as well as manages state-of-the-art BriteSmile Professional Teeth Whitening Centers. BriteSmile Centers are currently operating in Beverly Hills, Irvine, Palo Alto, Walnut Creek and La Jolla, CA; Honolulu, HI; Houston, TX; Denver, CO; Boston, MA; Boca Raton, FL; Atlanta, GA; New York, NY; Chicago, IL; and, Phoenix, AZ. In addition to BriteSmile Centers, the Company has contracted with independent dentists to perform whitening procedures at more than 4,500 Associated Centers. Of the BriteSmile Associated Centers, more than 1,500 are located outside of the United States in 65 different countries. For more information about BriteSmile's procedure, call 800-BRITESMILE or visit the Company's Website at http://www.britesmile.com .
SOURCE BriteSmile, Inc. -0- 07/25/2003 /CONTACT: Kelly Sullivan, +1-212-515-1908, for BriteSmile, Inc./ /Web site: http://www.britesmile.com/ (BSML) CO: BriteSmile, Inc. ST: California IN: HEA MTC SU: TNM JV-MV -- DCF031 -- 6112 07/25/2003 16:08 EDT http://www.prnewswire.com
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