Stratasys Appoints Medicodi and PD Dental as Channel Partners Targeting Dental Market in Korea
SEOUL, South Korea, January 21, 2013 /PRNewswire via COMTEX/ --
-- Meeting the increasing demand for dental 3D printing solutions in Korea
-- Identifying new opportunities to expand digital dentistry in Korea
Stratasys AP Ltd., a subsidiary of Stratasys, Ltd. (NASDAQ: SSYS), a leading manufacturer of 3D printers and production systems for prototyping and manufacturing, today announced the appointment of Medicodi and PD Dental as new channel partners in Korea. The new partners will focus on the distribution of Stratasys' award-winning 3D printing technology to the dental market. This appointment marks the increasing demand for 3D printing and the large potential for digital dentistry in Korea. By combining Stratasys' 3D printing technology with Medicodi and PD Dental's expertise and experience in the field, the company expects to vastly expand the penetration of digital dentistry in Korea.
The partnership with Medicodi, a leading Korean dental device distributor, together with PD Dental, a dental solutions provider, will provide dental labs and clinics in Korea with immediate access to local support and expertise on Stratasys' leading 3D printing solutions for digital dentistry.
"Over the past few years, we have provided industry-driven 3D printing solutions to support the growth and advancement of digital dentistry in Korea and around the world," said Gilad Gans, Executive Vice President for Global Field Operations, Stratasys. "Korea is a strategic market in Asia Pacific, and we are confident that these local partnerships will help address the unique needs of the country's dental industry."
3D printing is at the heart of the new digital era in dentistry. Combined with intra-oral scanning, CAD/CAM and design software, 3D printing helps dental labs produce a range of orthodontic appliances such as dental stone models, clear aligners and true-to-life veneer prototypes accurately and rapidly. Stratasys' dental solutions are based on its' award winning 3D printing technology and printing materials specially designed for dental applications. Stratasys dental solutions provide labs with an ideal platform for a fully digitized workflow, enabling more efficient and cost effective production.
"We are very pleased to be appointed as Stratasys' dental distributor in Korea," said Sun-Kyu Choi, CEO of Medicodi Inc. "We are a strong believer in Stratasys' cutting edge 3D printing technology and the value it brings to the dental industry. With Stratasys, we will play a critical role to provide professional 3D printing solutions to dental labs and clinics, maximizing our customers' competitiveness and effectiveness."
"There is a strong demand for digital dentistry and we believe it is the ideal next step for dental professionals," said Hyun Jong Park, CEO of PD Dental. "We are partnering with Stratasys, the leader in 3D printing, to lead the transition to 3D printing in the Korean dental market."
For more on Stratasys Dental Solutions for Dental Clinics and Labs interested in digitizing their workflow, contact Medicodi (+82-70-7500-9926) or PD Dental (+82-1544-2889), also visit http://www.ObjetDental.com.
Medicodi Inc. is a committed dental solution provider, delivering the value to dental professions. Its core value is to provide a competitive edge to dental professions through an improved digital workflow. Medicodi provides customized digital solutions to dental schools, hospitals and clinics with the extensive product portfolio: Dental consumables, Autoclave, Dental unit & chair, Digital X-ray systems and 3D printing system. As an authorized service provider for multinational brands, Medicodi prioritizes the one-day equipment service completion. Its reputation has been built through customers' trust for its professional service. The best customer service is for the better performance as well as its stable growth as a company.
About PD Dental
PD Dental is a specialized importer and distributer of prosthetic dentistry products including 3M, Dentsply and Heraeus. With its distribution service, it provides prosthetic dentistry and dental clinic related solutions and professional services. Visit http://www.pddental.co.kr for more information.
About Stratasys Ltd.
Stratasys Ltd. (Nasdaq: SSYS) is the corporate entity formed in 2012 by the merger of 3D printing companies Stratasys Inc. and Objet Ltd., based in Minneapolis, Minn. and Rehovot, Israel. The company manufactures 3D printers and materials for prototyping and production. Prior to merging, the two companies' revenues totaled $277 million for 2011. Its patented FDM® and Inkjet-based processes produce prototypes or manufactured goods directly from 3D CAD files or other 3D content. Systems include affordable desktop 3D printers for idea development, a range of systems for prototyping, and large production systems for direct digital manufacturing. Since June 2012, the company's range of over 130 3D printing materials is the widest in the industry and includes in excess of 120 proprietary inkjet-based photopolymer materials and 10 proprietary FDM-based thermoplastic materials. Stratasys also manufactures Solidscape 3D Printers and operates the RedEye On Demand digital-manufacturing service. The company has over 1100 employees, holds over 500 granted or pending additive manufacturing patents globally, and has received more than 20 awards for its technology and leadership. Online at: http://www.stratasys.com or http://blog.stratasys.com / http://www.objet.com or http://blog.objet.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements regarding Stratasys' beliefs, intentions and expectations, including statements regarding the management of Stratasys, Inc. and Objet Ltd. as a combined company, the benefits of the combination of the companies, and the future financial performance of the combined company after their merger, are forward-looking statements. The statements involve risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those projected. Actual results may differ materially due to a number of factors, including the risk and uncertainty that the businesses of the two companies may not be integrated successfully; the risk that the merger may involve unexpected costs or unexpected liabilities; the risk that synergies from the merger may not be fully realized or may take longer to realize than expected; the risk that management's focus on and disruptions arising from the merger make it more difficult to maintain relationships with customers, employees, or suppliers. Stratasys' ability to achieve the results presented in any forward-looking statement will depend on numerous factors, including its ability to penetrate the 3D printing market; its ability to achieve the growth rates experienced in preceding quarters; its ability to introduce, produce and market both existing and new consumable materials, and the market acceptance of these materials; the impact of competitive products and pricing; its timely development of new products and materials and market acceptance of those products and materials; the success of Stratasys' recent R&D initiative to expand the DDM capabilities of its core FDM technology; and the success of Stratasys' RedEye On DemandTM and other paid parts services. These and other applicable factors are discussed in this presentation and in Stratasys' filings with the Securities and Exchange Commission. These filings include the definitive proxy statement/prospectus filed with the SEC on August 8, 2012, as well as the filings that Stratasys, Inc. has made with the SEC and that Stratasys Ltd. has made and will make with the SEC in the future, including its report on Form 20-F to be filed for the year ended 12/31/2012. Any forward-looking statements included in this presentation are as of the date they are given, and Stratasys does not intend to update them if its views later change, except as may be required by law. These forward-looking statements should not be relied upon as representing Stratasys' views as of any date subsequent to the date they are given.
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