Dental Firm Gets Rights to Sell Whitening System
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Dental/Medical Diagnostic Systems in Westlake Village has reached an agreement to sell products manufactured by Ion Laser Technology of Salt Lake City, Utah.
The agreement gives Dental/ Medical Diagnostic non-exclusive domestic and selected international sales rights to ILT’s BriteSmile laser tooth-whitening system, including sales of laser tooth-whitening reagent kits. The product will be marketed by the company on a commissioned agent basis.
The agreement also grants the company exclusive worldwide distribution rights to ILT’s Argo HP sub-second dental composite curing and tooth-whitening device. The Argo HP has been cleared to market by the Food and Drug Administration for dental curing and light-activated tooth whitening.
Both BriteSmile and Argo HP will be marketed to dental offices.
The agreement is subject to due diligence and approval by the respective boards of both companies. Dental/Medical Diagnostic will pay ILT an initial $250,000 licensing fee upon closure of the definitive agreement.
To maintain its exclusive worldwide distribution rights to the Argo HP, Dental/Medical Diagnostic must sell a minimum average of 3,000 units per year over a five-year term. If the sales goal is reached, the agreement is renewable.
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