SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 14, 1997
DENTAL/MEDICAL DIAGNOSTIC SYSTEMS, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-12850 13-3152648
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
200 North Westlake Boulevard, Suite 202
Westlake Village, California 91362
(Address of Principal Executive Offices)
(805) 381-2700
(Registrant's Telephone Number)
<PAGE>
ITEM 5. OTHER EVENTS
Reference is made to two press releases of Registrant, issued on October
16 and October 21, 1997, which contain information meeting the requirements of
this Item 5, and which are incorporated herein by this reference. A copy of
these press releases are attached to this Form 8-K as Exhibits 99.1 and 99.2.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
November 14, 1997
DENTAL/MEDICAL DIAGNOSTIC SYSTEMS, INC.
By: /s/ Ronald E. Wittman
-------------------------
Ronald E. Wittman
Chief Financial Officer
<PAGE>
EXHIBIT INDEX
Exhibits Page Number
99.1 Press Release dated October 16, 1997
99.2 Press Release dated October 21, 1997
<PAGE>
EXHIBIT 99.1
DENTAL/MEDICAL DIAGNOSTIC SYSTEMS, INC. FINALIZES ITS
STRATEGIC ALLIANCE WITH ION LASER TECHNOLOGY, INC.
WESTLAKE VILLAGE, CA., OCTOBER 16, 1997, DENTAL/MEDICAL DIAGNOSTIC SYSTEMS,
INC. (NASDAQ:DMDS,DMDSW) Thursday announced the signing of a definitive
agreement with Ion Laser Technology, Inc., ILT (AMEX:ILT).
The agreement grants Dental/Medical Diagnostic Systems (DMD) exclusive
distribution of ILT's new patent-pending Argo HP(TM) Sub-Second(TM) dental
composite curing and tooth whitening device in the United States and Canada.
Utilizing ILT's new and proprietary light-energy source, the Argo HP activates
dental composite materials in under a second--a Sub-Second. The Argo HP is
expected to be the fastest and most efficient non-laser curing and whitening
device in the dental marketplace. The Argo HP has been cleared to market by
the Food and Drug Administration in the United States for dental composite
curing and light-activated tooth whitening. DMD will market this device under
the name Apollo 9500(TM) initially at a price point under $6,000.
"The interest in this new technology is substantial. We believe the market to
be potentially over one billion dollars in the U.S. and Canada alone," stated
Robert Gurevitch, DMD's chairman, president and CEO. "DMD management's history
in successfully introducing high tech products into the dental marketplace will
greatly benefit both companies. The sales expected for the Apollo 9500 when
added to DMD's existing revenue base may give DMD an excellent opportunity for
increased revenue and profitability."
To maintain its exclusive distribution rights to the Argo HP, DMD must sell a
minimum average of 3,000 units per year over a five year term. The Company
anticipates there will be substantial additional revenues from the sale of
related consumable items used in conjunction with the Sub-Second and whitening
device. The produce launch will be in Washington, D.C. at the American Dental
Association Trade Show on October 18-21, 1997 with anticipated revenues
beginning in the first quarter of 1998.
The curing (sealing) ability of the Apollo 9500 is expected to provide a
dramatic reduction in the time presently required to complete a composite cure
for a single tooth procedure. The typical curing light used in dental offices
requires more than ninety seconds of curing time for a single tooth procedure.
DMD's Apollo 9500 will complete this process in less than three seconds. The
time saved by using the Apollo 9500 will enable the dentist to create
additional services and revenues.
The Apollo 9500 is expected to enable a dental practice to offer tooth
whitening as an in-office procedure which can be performed by a dental
assistant or hygienist. This procedure will provide most patients with a
marked improvement in the color and general appearance of their teeth in
approximately one hour or less. The Apollo 9500 was designed to out-perform
in speed and efficiency the growing number of curing/whitening xenon-lamp
type products which compete with single low-powered argon lasers in results.
The agreement reached between the two parties includes two segments: The second
segment is a non-exclusive domestic and selected international sales agreement
by Dental/Medical Diagnostic Systems, Inc. Of ILT's U.S. patented
BriteSmile(TM) Laser Tooth Whitening (LTW) dual-laser System (the new Argon
Laser 6800A-WL and C02 Laser D-2000 plus components), including sales of laser
tooth whitening reagent kits. This product will be marketed by the Company on
a commissioned agent basis.
This release, other than historical information, consist of forward-looking
statements that involve risks and uncertainties such as market acceptance of
new products, potential product delays due to product development, delays in
the manufacturing of production quantities to DMD's quality standards, the
ability to establish production, the reliance on suppliers for parts and
materials and competitive pressures. Actual future events or results may
differ materially from the forward-looking statements set forth above. Readers
are referred to the documents filed by DMD with the SEC, specifically the most
recent reports on forms SB-2 and 10-QSB, that identify important risk factors
which could cause actual results to differ from those contained in the forward-
looking statements. DMD disclaims any intent or obligation to update these
forward-looking statements.
EXHIBIT 99.2
DENTAL/MEDICAL DIAGNOSTIC SYSTEMS, INC. FINALIZES ITS
STRATEGIC ALLIANCE WITH SUNI IMAGING MICROSYSTEMS, INC.
WESTLAKE VILLAGE, CA, OCTOBER 21, 1997, DENTAL/MEDICAL DIAGNOSTIC SYSTEMS, INC.
(NASDAQ:DMDS, DMDSW) Tuesday announced the signing of a definitive agreement
with Suni Imaging Microsystems, Inc.
The agreement is for the development of Digital X-Ray CCD technology by Suni
imaging Microsystems, Inc. (SUNI) which will be licensed on an exclusive
worldwide basis to Dental/Medical Diagnostic Systems, Inc. (DMD).
The digital x-ray system which is under development will have three sensor
sizes that are substantially thinner and easier to place in the mouth,
therefore, ultimately more comfortable for the patient than those presently in
the marketplace. The company believes that the image quality of its digital x-
ray system will also be better than those now in the marketplace, and be more
affordable to the dentist. This technology allows a substantial reduction in
radiation exposure and permits dentists to view x-ray images in real time
without the time-consuming process of film development. It also allows for
storage of database and recall of images for comparison purposes.
"This new technology should have a major impact on the way dentistry is
practiced. We believe the market potential is over sixteen billion dollars
worldwide. We look forward to working with Paul Suni, one of the foremost
experts in this field," stated Robert Gurevitch, DMD's chairman, president and
CEO.
Suni Imaging Microsystems, Inc. (Mountain View, CA) is a privately held U.S.
fabless semiconductor company that specializes in system-on-a-chip CMOS and
CMOS-CCD image sensor products and mixed-signal chip sets based on its
proprietary fabrication processes and design methodologies. Founded in 1995 by
Paul Suni, a well known figure in the image sensor industry, the company's
emphasis is in high volume vision components and subsystems markets that are
emerging today. In the dental equipment industry, Mr. Suni is credited for
having pioneered the development of the world's first film sized CCD sensors
produced for digital x-ray systems in multiple sizes since 1992.
Mr. Paul Suni, President and CEO of Suni Imaging Microsystems, Inc., said, "I
am extremely pleased about joining forces with DMD to address this exciting
market opportunity." "DMD's sales track record and SUNI's proven expertise in
dental x-ray sensor technology innovation is a winning combination."
To maintain its exclusive distribution rights to the technology, DMD must meet
minimum royalty payments averaging approximately $1,470,000 per year over a
five year term. The company anticipates the product to be launched outside the
United States in the latter part of the second quarter of 1998. Domestically,
it should be launched during the third quarter of 1998 as it requires a market
clearance by the Food and Drug Administration (510K approval).
This release, other than historical information, consists of forward-looking
statements that involve risks and uncertainties such as market acceptance of
new products, potential production delays due to product development, delays in
the manufacturing of production quantities to DMD's quality standards, the
ability to establish production, the reliance on suppliers for parts and
materials and competitive pressures. Actual future events or results may
differ materially from the forward-looking statements set forth above. Readers
are referred to the documents filed by DMD with the SEC, specifically the most
recent reports on forms SB-2 and 10-QSB, that identify important risk factors
which could cause actual results to differ from those contained in the forward-
looking statements. DMD disclaims any intent or obligation to update these
forward-looking statements.
