July 18, 2022
Dental Surgery stock Biolase (BIOL) CEO John R. Beaver is the President, Chief Executive Officer and Director. Mr. Beaver brings over 40 years of substantial leadership and technical experience in finance and business management for both public and private companies.
His experience leading debt and equity fundraising efforts to elevate companies from startup to commercial success has positioned BIOLASE for growth.
At BIOLASE, he has a pulse on investor relations, using dentist education to establish lasers as the gold standard of care, and building cross-functional teams internally.
When not charting the path for BIOLASE, you can find Mr. Beaver rooting for the Houston Astros or heading to Texas to visit his grandkids.
“So, of all the specialties, we probably were less, I would say penetrated in endodontics.
It was never really a focus for us.
We knew that our technology would be beneficial in that area. But you have to pick where are you going to succeed and where are you going to put your resources.
We knew that endodontics was a growth opportunity for us.
But at the same time, EdgeEndo came to us — and they are majority owned by Henry Schein — and they say, “We want to get involved or have a product that’s going to do irrigation of the canal via lasers,” because they recognized the importance of that and the improvement of that is, if you use traditional instrumentation, the rotary file system, through a root canal, you get maybe 50% of the bacteria out of that root.
I don’t know about you, but if a surgeon came in after surgery and told me, “Yeah, we’re good, we got about 50% of the bacteria out of that surgical area,” I wouldn’t feel really good about it. Lasers remove 99.5% of the bacteria and the improvement there is significant in terms of success of the root canal and the rate of retreatment.
So they came to us and at first I said, I’m not sure if I want to put somebody else in business competing with us here. But knowing those guys like I do, if we had said no, somebody else would have said yes. And I’d much rather work with them than against them. And so we partnered up.
They came to us because they felt like the 2,780nm erbium chromium YSGG wavelength, which we have a patent on, was the best for this.
And they also believed BIOLASE (BIOL) has a core competency in getting new products through FDA clearance. And so, we started working with them.
We developed what’s called an EdgePRO and it is based upon our 2,780nm wavelength, but it doesn’t ablate or cut.
So it’s simply a microfluidic irrigation device, which is important for endodontists. But if endodontists want to do more, or a GP wants to do more than just irrigate that canal in the most efficient and best manner possible, then they would go to a Waterlase.
And so, we got the approval in December of 2021, which was for us a record in basically a year of start to finish with that product.
We started producing and selling it commercially to EdgeEndo in the first quarter. And so far, so good.
Not only have we sold a number of units to them through our OEM partnership, but we are also raising awareness of endodontics around this wavelength. We’ve actually had ancillary sales of our Waterlase.
I look at it as the best outcome for us is if you have endodontists that may have, let’s say six operatories.
They’ll buy six EdgePROs, one for each operatory. But they might buy one or two Waterlase because they want to do more, but they don’t need it in every operatory.
That’s a home run for us.”
Biolase (BIOL) CEO John Beaver has experience getting FDA approvals for new applications for the company’s equipment:
“We have the best laser on the market. It is proven. And guess what — we talked about the 90% of dentists that don’t have an all-tissue laser. The ones that do have, 60% have ours, but the 90%, you know a lot of them don’t even know what a laser is or haven’t been really talked to about it.
It is such a fertile ground for education and training that when we show our laser even though this particular model has been out a few years, it’s brand new to them.
So we don’t need a new laser as much as we need to invest in additional clinical procedures and getting FDA cleared for those. And consumables — what I mean is a different handpiece or something like that.
I’ll give you an example of one thing that we did a couple of years ago.
We knew that our laser was being used by dentists, even though we did not have FDA clearance and we could not market it around then. But it was being used for crown and veneer removals.
But if you think about, as an example, I was at a dentist’s office I’m visiting with — I do ride-alongs with each of my territory managers, spend the day with them.
It’s been great. I get to go out and see the customer, see future customers and all that good stuff.
But I was with a dentist who was removing 19 veneers from one person at one appointment.
And I asked her, “What were you doing before you had a laser?” And she said, “Oh, it would take two or three different sittings or appointments. I would be using my high-speed handpiece to try to grind those veneers off, pretty tedious.”
And we’re watching, we were able to do all 19 in less than an hour.
Yeah, it just pops off.
But that’s an example of something that we saw our dentists were using.
OK, let’s go out and get the FDA clearance for it, which we did back in 2019-2020.
And now we’re selling.
Does that mean anybody is going to buy lasers because of that? You know, probably not.
But it’s just another thing with the Waterlase — there are over 80 FDA-cleared indications for that laser.
And that’s just one more reason to look at incorporating this technology into your practice.”
The Biolase (BIOL) CEO has a lot more to detail in his entire interview, exclusively in the Wall Street Transcript.
John R. Beaver, President & CEO, BIOLASE (BIOL) Inc.