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PRODRIVE SYSTEMS ACQUIRES HIGH SPEED SERVICE, NORTH AMERICA’S
FASTEST GROWING DENTAL HANDPIECE SERVICE COMPANY


Acquisition provides extensive dealer and service channel to speed market penetration for ProDrive’s unique and patented handpiece products and access to a related lucrative service market with recurring revenues.

Montreal, February 20, 2007 – ProDrive Systems Inc. announced today the acquisition of High Speed Service Inc., of Portland, Oregon. High Speed Service is North America’s fastest growing and most dynamic handpiece service group. With over 100 dealers across North America and access to over 10,000 trusting customers, High Speed Service will help launch ProDrive as a major player in a market valued at USD $1.2B.

Jean Castonguay, President and CEO, ProDrive Systems Inc., said, “Our patented products have quickly drawn the attention of the whole dental industry. Our unique strategy aims to upgrade dental handpieces, improving performance and efficiency – the number one concern of dentists. Joining ProDrive’s power brand with High Speed Service’s handpiece expertise is a natural brand and business extension. Phase one of our combined product and service offering positions us to capture a large portion of the North American market valued at USD $1.2B, and begin preparations for the worldwide market valued at an additional USD $1.9B.”

Vernon Tunnell, President and CEO of High Speed Service Inc., said, “The dental handpiece has remained virtually unchanged for thirty years. What’s unique about ProDrive is they devised solutions from a customer’s perspective – not a manufacturer’s perspective – [and] they solved the problems. The drive system not only provides more cutting power, it resolves a series of chronic problems in the handpiece that resulted in poor concentricity and premature wear  – doctors who try it immediately love it. The genius of the solution is in its simplicity – a drive system for the dental drill. Virtually every other industrial drill system on the planet uses a drive system – and the dental industry will soon be next; I have no doubts this will be the industry standard.”

The ProDrive System is comprised of the ProDrive Upgrade Turbine and the ProDrive Bur. Traditional friction grip handpieces often suffer torque loss when cutting hard materials. Such torque loss reduces cutting power and causes unwanted friction and heat. The innovative 100% Torque Transfer feature of the ProDrive System ensures the bur always turns in sync with the turbine, thereby improving the cutting power as well as the durability and reliability of dental handpieces. In addition, the ProDrive Upgrade Turbine is designed with superior quality components.

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.

About High Speed Service Inc.

High Speed Service Inc. is North America’s fastest growing dental handpiece repair company, with over 100 dealers. Dental handpieces need frequent repair and service due to stringent sterilization requirements. High Speed Service provides on-site service in the office and comprehensive service plans that ensure handpieces are operating at full capacity – improving a dentist’s practice efficiency. 

Contact: Mark Scott, Director of Marketing & Sales
Tel: 1.866.937.8882 ext.105
m.scott@prodrivesystems.com