BURNABY, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2012) - LED Medical Diagnostics Inc. (TSX VENTURE:LMD) (LED Dental) today announced the formation of an important strategic alliance with DenMat Holdings, LLC.
LED Medical Diagnostics manufactures the VELscope®, the market-leading early-stage oral cancer detection device approved by the U.S. FDA, Health Canada, and European regulators.
DenMat, a dental manufacturing company founded in 1974, manufactures, markets, and distributes a broad range of cosmetic, restorative and clinical dentistry solutions, available in the U.S. and over 68 countries worldwide. DenMat, which is based in California and currently employs some 400 people, was acquired in 2011 by Centre Partners, a middle market private equity firm, and Mill Street Partners LLC, a Los Angeles-based firm focused on providing dental industry investment strategy services.
"This alliance between LED Medical and DenMat will create the most visible and influential oral cancer screening group in the world," said LED's founder and CEO, Peter Whitehead. "DenMat's sales and marketing team has the size, experience, and leverage to raise the VELscope Vx to an entirely new level of name-brand recognition. Aligning ourselves with a proven sales and marketing organization is intended to push sales significantly and maximize the VELscope's global presence. As an additional benefit, this alliance will provide LED Medical Diagnostics with more time and resources to focus on the development of additional product offerings."
"We're extremely pleased to be working with LED Medical Diagnostics," said Robert Cartagena, DenMat's COO. "Oral cancer screening had been limited by a lack of proven and effective technology. In that regard, the VELscope is a game-changer. Placing the VELscope Vx in the hands of as many dentists as possible offers the hope of potentially life-saving early diagnosis for the population at-large. During the past 38 years, DenMat has taken pride in building some of the most successful brands in dentistry like Lumineers and most recently, SnapOn Smile. With the VELscope Vx we intend to continue our tradition of success, by encouraging and supporting dentists in the global fight against oral cancer."
Said Whitehead: "This alliance constitutes LED Medical's most coherent sales and marketing strategy to date. LED will continue to build, design and develop the most current oral mucosal screening products in the world. In addition, we will now have the freedom to develop our patented technologies for use in other markets."
About LED Medical Diagnostics Inc.
LED Medical Diagnostics Inc. was founded in 2003 and is headquartered in Burnaby, British Columbia, Canada. Its wholly-owned subsidiary, LED Dental Inc., is the manufacturer of the Velscope Vx Enhanced Oral Assessment System. Velscope Vx devices, the first to apply tissue fluorescence visualization technology to the oral cavity, are used to conduct more screenings for oral cancer and other oral diseases than any other adjunctive device in the world. To date, the VELscope has sold over 12,000 units, and been used to perform an estimated 20 million exams. For more information, call +1 (604) 434-4614, or visit www.velscope.com.
About DenMat Holdings LLC
DenMat Holdings, LLC, manufactures a broad range of cosmetic, restorative and clinical product solutions, available in the U.S. and over 68 countries worldwide. Ongoing partnerships continue to position DenMat in the forefront of the dental industry. LUMINEERS, the contact- lens thin veneers placed without the need for anesthetic, extensive prepping or temporaries, is the cornerstone of DenMat's Smile Portfolio, and the LUMINEERS Smile Design Studio is recognized as a leading laboratory for both minimally invasive and traditional-preparation restorations. DenMat also offers continuing education programs internationally, including Destination Education events held at resort locations across the U.S. For more information, visit www.denmat.com or call 800-433-6628.
About the VELscope Vx
The Velscope Vx is a powerful FDA-approved tool used to screen for oral cancer. It saves lives and decreases mortality by helping clinicians detect early stage oral cancer, pre-cancer, and other abnormalities in the mouth such as viral, fungal and bacterial infections. For more information please call +1 (604) 434-4614, or visit www.velscope.com.
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