The deal is part of Envista's strategy to focus on fast growing segments of the dental market and to develop differentiated solutions through the digitalisation of dental workflows
Envista has agreed to acquire Carestream Dental’s scanning technology business. (Credit: StockSnap from Pixabay)
Dental products company Envista Holdings has agreed to acquire scanning technology business from the affiliates of Carestream Dental for $600m.
The scanning technology business consists of Carestream Dental’s intraoral scanner equipment and related software.
The intraoral scanner equipment consists of CS 3600, CS 3700, CS 3800, CS Scanflow, CS Connect, CS solutions for implants and CS solutions for restorations.
The acquisition is part of Envista’s long-term strategy to focus on fast growing segments of the dental market, in addition to creating differentiated solutions through the digitalisation of dental workflows.
Envista Holdings CEO Amir Aghdaei said: “Intra-oral scans are often the first step in the digital workflow and critical to many high value dental procedures including implants, prosthetics, and aligners. We are excited to add a suite of world-class intra-oral scanners and software to our portfolio.”
Carestream Dental stated that it will continue to operate its imaging technology, clinical software and practice management software businesses, which deliver solutions for dental practices, groups, DSOs and industry partners.
The divested business will help Carestream Dental to focus more on dental cloud and technology solutions market, in addition to securing significant proceeds.
Carestream Dental CEO Lisa Ashby said: “We’ve had a multi-year investment plan in cloud solutions and technology, and this transaction allows us to better focus and accelerate our innovation in AI tools, clinical cloud applications and cloud practice management for GPs, DSOs and specialty practices.”
Subject to the satisfaction of certain customary closing conditions including the receipt of applicable regulatory approvals, the deal is expected to be completed in the late first quarter or early second quarter of next year.
J.P. Morgan Securities served as financial advisor, while Kirkland & Ellis acted as legal advisor to Envista on the deal.
Jefferies is acting as financial advisor and Debevoise & Plimpton is serving as legal counsel to Carestream Dental in the deal.