BIOLASE, Inc., a global leader in dental lasers, recently announced that the Board of Directors has appointed John R. Beaver, the company's current Executive Vice President, Chief Operating Officer and Chief Financial Officer as its President and Chief Executive Officer, effective February 23, 2021. Todd Norbe, who has served as President and CEO since August 2018, has resigned from his position, including his board seat, to pursue other interests.
"John's knowledge of the dental industry, combined with his executive management and financial expertise, make him ideal to lead BIOLASE as we pursue our growth plans," said Jonathan T. Lord, Chairman of the Board of Directors. "Since joining BIOLASE in 2017, John has spent considerable time in the field with dentists and our sales team ensuring that we are meeting the needs of the dental market. It is this hands-on approach that enabled John to develop and lead our Waterlase Exclusive Trial Program, which is off to a great start in 2021. Additionally, he has been heavily involved in our marketing efforts, and most recently launched our collaboration with the BMW Performance Center West. He has continuously demonstrated his strategic capabilities and has showcased his team-player approach with distinction since joining the Company. Further, John's leadership skills were on full display as he was primarily responsible for strengthening our balance sheet, resulting in current cash on hand of approximately $40 million. On behalf of the Board of Directors, we congratulate John on this well-deserved recognition, and we look forward to working with him to achieve our shared vision and goals. I would also like to thank Todd for his efforts in helping turn around BIOLASE and wish him well in his future pursuits."
"This is a critically important time for BIOLASE, and I want to thank the Board of Directors for entrusting me to lead the Company during this growth phase," commented Beaver. "As dental practitioners adapt to the current COVID-19 pandemic, it is clear they are turning to BIOLASE to help them ensure their patients are being cared for in a safe environment, as well as to help them grow their business. The success of our recent financings ensures we have the resources to execute our growth plan. We are well-positioned with our industry-leading products and the strong team we have assembled. I look forward to working closely with them to achieve BIOLASE's full potential."
Beaver joined BIOLASE in 2017 as Senior Vice President and Chief Financial Officer. He assumed roles of varying responsibilities over the past few years, including Interim Chief Executive Officer of BIOLASE from April 2017 until the hiring of Mr. Norbe.
Beaver has a Bachelor of Business Administration degree in Accounting from the University of Texas at Austin and is a Certified Public Accountant.
About BIOLASE, Inc.
BIOLASE is a medical device company that develops, manufactures, markets, and sells laser systems in dentistry and medicine. BIOLASE's products advance the practice of dentistry and medicine for patients and healthcare professionals. BIOLASE's proprietary laser products incorporate approximately 271 patented and 40 patent-pending technologies designed to provide biologically and clinically superior performance with less pain and faster recovery times. BIOLASE's innovative products provide cutting-edge technology at competitive prices to deliver superior results for dentists and patients. BIOLASE's principal products are revolutionary dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications. BIOLASE has sold more than 41,200 laser systems to date in more than 80 countries around the world. BIOLASE®, Waterlase® and Waterlase iPlus® are registered trademarks of BIOLASE, Inc.