Hu-Friedy provides instruments and instrument reprocessing workflow systems for the dental industry
Cantel Medical has agreed to acquire US-based dental instruments manufacturer Hu-Friedy in a deal worth at around $775m (£636m).
Under the deal, Hu-Friedy will receive $725m (£595.8) in upfront cash and stock consideration, as well as up to $50m (£41.09m) in earnout payments in cash and stock based on the achievement of commercial milestones in the first eighteen months after closing.
Cantel president and CEO George Fotiades said: “The combination of our two dental businesses provides a clear and immediate opportunity to become the leading provider of a ‘Complete Circle of Protection’ offering for instrument reprocessing workflow and infection prevention and compliance solutions in the dental industry.”
Founded in 1908, Hu-Friedy provides instruments and instrument reprocessing workflow systems for the customers in the dental industry.
Benefits of Hu-Friedy’s acquisition
The integration of Hu-Friedy’s dental instrumentation and instrument management systems with Cantel’s major dental infection prevention consumables will help the company to expand infection prevention and reprocessing workflow solutions and education across its key end markets.
Hu-Friedy’s large sales and customer care team will allow Cantel to enhance its commercial and customer engagement capabilities within the dental industry.
Hu-Friedy, which also manages offices in Germany, Italy, China and Japan, supplies its products in more than 100 countries.
Subject to regulatory approvals and other customary closing conditions, the deal is expected to be completed in the first quarter of Cantel’s fiscal year 2020.
Hu-Friedy chairman and CEO Ron Saslow said: “As a leader in dental instrumentation and instrument management solutions, Hu-Friedy’s combination with the Cantel portfolio of leading infection prevention dental consumables is a perfect match to further enhance our ability to serve our dental customers.”
Cantel provides innovative infection prevention products and services for patients, caregivers, and other healthcare providers.
Its product portfolio is comprised of specialized medical device reprocessing systems for endoscopy and renal dialysis sterility assurance monitoring products for hospitals and dental clinics, disposable infection control products primarily for dental and GI endoscopy markets, dialysate concentrates, hollow fiber membrane filtration and separation products.