Byte has a significant presence in the direct-to-consumer and doctor-directed clear aligner market
Dental products and technologies provider Dentsply Sirona has acquired US-based dental aligner maker Byte in an all-cash deal for $1.04bn.
Byte, which is based in Los Angeles, has a significant presence in the direct-to-consumer and doctor-directed clear aligner market.
With more than 450 employees, Byte has a nationwide network of licenced dentists and orthodontists.
Byte CEO Neeraj Gunsagar said: “We have been impressed with the passion that Dentsply Sirona has for innovation in dentistry. This combination provides Byte with unmatched resources and R&D capabilities that allow us to reach additional customers and accelerate our mission of changing the world one smile at a time.”
Byte to support Dentsply to scale its SureSmile clear aligner business
The acquisition of Byte is expected to allow Dentsply to scale its SureSmile clear aligner business and strengthens its relationship with dental professionals. It will also help Dentsply to focus on expanding the market for orthodontic care.
Byte’s direct-to-consumer system is anticipated to enable Dentsply Sirona to connect additional patients with its network of dental partners and improve access to quality oral healthcare
The company is said to offer effective treatment planning and an easy-to-use clear aligner solution for consumers directly at home.
Dentsply Sirona CEO Don Casey said: “We have been pleased with the growth of our SureSmile clear aligner business, and we are confident that adding the innovative platform of Byte adds scale for us in the important clear aligner market.”
Centerview Partners acted as financial advisor to Dentsply Sirona and Skadden, Arps, Slate, Meagher & Flom served as legal counsel. Goldman Sachs and American Discovery Capital acted as financial advisors to Byte for the transaction.
In December 2020, AdaptHealth, a provider of home healthcare equipment, agreed to acquire Florida-based technology-enabled respiratory and home medical equipment (HME) distribution platform AeroCare Holdings for around $2bn.