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RightSmile(R) to Acquire Revodent, Inc.
PORT ST. LUCIE, FL, Apr 28, 2010 (MARKETWIRE via COMTEX) -- RightSmile, Inc. (PINKSHEETS: RIGH) (www.RightSmile.com) the leader in Cosmetic Laser Teeth Whitening has entered into a Letter of Intent to acquire Revodent, Inc.
US based Revodent, Inc., established in 2008 has grown rapidly as a manufacturer of teeth whitening products. Currently Revodent supplies numerous manufacturers/manu-packagers with components for teeth whitening solutions, in addition they also supply final products designed for use in the dental, salon/retail and internet markets. RightSmile(R) anticipates that the acquisition of Revodent, Inc. will provide business benefits on many fronts. "We are looking forward to not only the obvious added revenue stream, but to the manufacturing, sourcing, cost savings and additional technology and know-how that we will receive as part of this transaction. This is a win-win situation that will allow both companies to merge and operate as a single entity with the ability to grow on the strengths of the other," said Gene Caiazzo, CEO of RightSmile(R).
Robert I. Prince, CEO, as well as other key Revodent employees have agreed to stay on for at least a year to assist in the transition, 'or longer if the team at RightSmile(R) sees our benefit for the future.'
The acquisition of Revodent, Inc. is anticipated to increase RightSmile's(R) 2010 year-end revenue by $500,000 or more. Additionally the acquisition of Revodent gives RightSmile(R) a stronger platform to build both the SmileShoppe and private label markets, and jump directly into retail and internet sales. In this transaction, RightSmile(R) will also acquire other brand names produced by Revodent such as UltraBright USA, Revolution Whitening and Stay White, to name a few, but will also acquire customers in Mexico and France.
About RightSmile(R): Based in Port St. Lucie, Florida, RightSmile, Inc. engages in the distribution of branded and private label Cosmetic Laser Teeth Whitening products. RightSmile(R) provides an exclusive turn-key Cosmetic Teeth Whitening System designed to complement existing health, beauty and medical businesses. Approved branded retailers become known as SmileShoppes (www.MySmileShoppe.com). RightSmile(R) provides every SmileShoppe (RightSmile(R) dealers) with State-of-the Art Whitening Technology at no cost to the retailer; The RightLight II, all support hardware (shade guides, protective glasses, mirrors, etc.), outdoor and indoor marketing material, training and the safest and most complete Whitening Kits available today. Furthermore, RightSmile(R) names each SmileShoppe as an "Additional Insured" on our $4,000,000 product liability insurance policy.
The Company believes all other remarks made in the release to be accurate to the best of their knowledge.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
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SUBJECT CODE: Lifestyle and Leisure:Personal Care/Fitness
Medical and Healthcare:Dentistry
Medical and Healthcare:Alternative