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OTTAWA-BASED PRODRIVE SYSTEMS INC. ACQUIRES THE HANDPIECE CLINIC INC., LAUNCHES NEW DENTAL INDUSTRY PRODUCT & SERVICE OFFERING
ACROSS NORTH AMERICA

Superior turbine engine components and warranty for dental handpieces first phase of unique patented offering to address a multi-billion dollar market opportunity worldwide

Ottawa, Nov. 28 – ProDrive Systems Inc. (a TTi Turner Technology Instruments Inc. Company),  a  privately funded company based in Ottawa, announced today the acquisition of The Handpiece Clinic Inc., and the North American launch of the Long Life Replacement Turbine for dental handpieces at the Greater New York Dental Meeting in New York. This acquisition and product launch are the first part of a greater strategy that includes a new patented high-performance ProDrive Handpiece, Replacement Turbine and Burs, that will be launched at the Chicago Midwinter Dental Meeting in February 2006. ProDrive Systems products directly address a leading industry problem by providing increased handpiece performance, without requiring dentists to change their accustomed work habits. The worldwide market opportunity for ProDrive is in excess of $5 billion and with its innovative, patented technology and novel business approach, ProDrive expects to take full advantage of it’s significant competitive advantage in a very fragmented market.

ProDrive Systems products are being developed and manufactured with cooperation of some of the largest dental instrument companies in the world, and incorporate innovative new performance features that will be attractive to multiple dental companies for licensing opportunities. An industry-leading German dental company, with over 115 years in the business, has already agreed to co-brand one product for the North American launch in February 2006.

ProDrive Systems has successfully raised over $4 million dollars of private equity to date and additional private funding is being sought for advanced product development and to meet considerable anticipate product demand with the North American commercial release.

Initial prototype product tests and commercial research demonstrate that the performance of the product surpasses first expectations, resulting in a product opportunity that is significantly higher than originally anticipated. ProDrive Systems engaged Strategic Dental Marketing of New York, North America’s largest dental industry research group, to test the interest level towards ProDrive products and price-sensitivity among the target group. The results of the research demonstrate that the products not only solve an industry acknowledged problem, but that dentists will pay a premium for the advantage of increased power and improved efficiency.

“In 1993 the United States Food and Drug administration issued new guidelines for sterilizing handpieces after each patient use in order to combat possible transmissions of infectious disease. The results of more frequent sterilizations have severely impacted the life and performance of dental handpieces. Until today, dentists were forced to endure prohibitively costly original components or frequent repair and insufficient warranties,” says Jean Castonguay, President and CEO of ProDrive Systems Inc. “Our products address the reliability challenge with superior design, components and warranty and improve performance of the dentists.  Our patents provide us with a huge barrier to entry against the competition. No one can meet our value-performance mix. Nothing excites us more than the reaction we’ve received to date from partners who’ve been in the dental business for decades working shoulder-to-shoulder with us – their confidence in our products is inspiring.”

“Our two-phase product launch begins with the premium quality Long Life Replacement Turbine today, and is targeted at the more conservative segment of the market,” continues Castonguay. “The February 2006 ProDrive Replacement Turbine launch is targeted for the Chicago Midwinter Meeting, where the world’s largest industry players typically announce new products. Our efforts towards our February launch are focused on engaging key opinion leaders throughout the industry to champion and endorse our products on launch day. Interest level is very high because of the revolutionary nature of our products.”

About ProDrive Systems

ProDrive Systems Inc. designs and develops products with patented innovation that revolutionize the conventional standards of performance and durability of modern dental instruments. ProDrive Systems' innovative drive-lock design is the world's first turbine/bur system to improve the performance and safety of dental handpieces. 

Contact: Antoine Jothy, Marketing Manager
Tel: 1.866.937.8882 ext.107
a.jothy@prodrivesystems.com