Veneer Sales Increase as Remedent Announces Inclusion of Chinese Operations in Consolidated Financial Statements for the Year an
April 15 2010 - 12:02PM
Marketwired
Remedent, Inc. (OTCBB: REMI), an international company specializing
in research, development, and manufacturing of oral care and
cosmetic dentistry products, announced today that it intends to
include the results of its Chinese operations for the first time in
its consolidated financial statements for the year and quarter
ended March 31, 2010 as veneer sales increased during the third and
fourth calendar quarter of 2009. In addition, in April Remedent
expanded its business to consumer model in the Asian market by
opening a dental spa in Hong Kong and Taiwan.
"We are very excited to consolidate our Asian operations into
our financial statements because the results continue to be
extremely impressive. Our clinic which originally opened in
Beijing, China, in the third calendar quarter of 2009, was the
first dental spa to offer pain free cosmetic dentistry in Beijing.
Veneer sales doubled in the fourth calendar quarter of 2009 over
the third quarter and then tripled again in the first calendar
quarter of 2010 compared to the fourth calendar quarter in 2009.
Sales beginning in April 2010 are also tracking to usurp the
numbers from the previous quarter as well. Our strategy is to make
Glamsmile synonymous with a beautiful smile in Asia and we are very
excited to open operations in both Hong Kong and Taipei, Taiwan and
hope to mirror the success in Beijing," said Guy De Vreese, Chief
Executive Officer of Remedent.
"Our target market consists of business people, sales persons,
artists and the growing middle classes throughout Asia which
represent approximately 5% of the total population of each
respective major city. Our goal is to immediately begin to scale
our operations throughout Asia, especially China where our market
potential is in excess of half a million persons per target market.
China has the largest number of tetracycline patients in the world
and we believe our system offers an immediate solution for this
problem.
"Our strategy of marketing our veneers directly to the consumer
throughout China and Asia will enable us to generate profits much
faster than in the rest of the world due to lower operating costs
and minimal competition. Also since we control all parts of the
operations from manufacture to the final sale to the consumer, we
believe this will make it difficult for competitors to compete with
our model. Our goal is to continue our expansion in the Asian
market by opening a spa in Shanghai in the second quarter of this
year and thereafter expand the model to dozens of other cities that
meet that criteria throughout Asia as we believe there many persons
desirous of our pain free affordable procedure. Finally it is
extremely fulfilling when our recently completed satisfaction
survey undertaken in Beijing is close to perfection."
About Remedent Remedent, Inc. specializes
in the research, development, manufacturing and marketing of oral
care and cosmetic dentistry products. The company serves
professional dental industry with breakthrough technology for
dental veneers, bridges and crowns that are recognized worldwide
for their technological superiority and ease-of-application. These
products are supported by a line of professional veneer whitening
and teeth sensitivity solutions. Headquartered in Belgium, Remedent
distributes its products to more than 35 countries worldwide. For
more information, go to http://www.remedent.com.
Forward-Looking Statements Statements in
this press release contains forward-looking statements relating to
Remedent, Inc. and its strategic and operational plans related to,
and the expected financial impact of, the announced expansion in
the Asian market. Statements in this press release that are
"forward-looking statements" are based on current expectations and
assumptions that are subject to risks and uncertainties. Such
forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors that could cause Remedent's
actual operating results to be materially different from any
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements that
explicitly describe these risks and uncertainties, readers are
urged to consider statements that contain terms such as "believes,"
"belief," "expects," "expect," "intends," "intend," "anticipate,"
"anticipates," "plans," "plan," "projects," "project," to be
uncertain and forward-looking. Actual results may differ materially
because of such risks and uncertainties and the reported results
and projections should not be considered as an indication of future
performance. For further information regarding risks and
uncertainties associated with Remedent's business, please refer to
the risk factors described in Remedent's filings with the
Securities and Exchange Commission, including, but not limited to,
its annual report on Form 10-K and quarterly reports on Form
10-Q.
Stephen Ross 310-922-5685 docktor99@aol.com
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