The KaVo treatment unit and instrument business was part of the company’s equipment and consumables business segment
Envista sells treatment unit and instrument business. (Credit: StockSnap from Pixabay.)
Dental products company Envista Holdings has completed the previously announced sale of its KaVo treatment unit and instrument business.
Based in Biberach, Germany, the KaVo treatment unit and instrument business was part of the company’s equipment and consumables segment.
Envista’s imaging business, which also currently uses the KaVo brand for select products, is not included in the sale, and will operate under the equipment and consumables segment.
The company has received an upfront payment of $317.3m in cash upon closing, and is expected to receive total gross proceeds of $383m by the first half of 2022.
In September last year, dental equipment manufacturer Planmeca agreed to acquire KaVo Treatment Unit and Instrument business for around $455m.
Envista intends to use proceeds from the divestiture to fund its strategic acquisitions and internal investments.
Envista CEO Amir Aghdaei said: “Envista is focused on its strategic priorities to build and optimize a more consumables and digitally enabled, workflow-oriented portfolio.
“This divestiture further enables Envista to invest organically and inorganically, expand our product offerings, and realize our purpose of partnering with dental professionals to improve patients’ lives by digitizing, personalizing, and democratizing dental care.”
Envista is a large-scale dental products company, with a significant market presence in few attractive segments of the dental products industry.
It offers dental consumables, solutions, technology, and services through its family of more than 30 dental brands, including Nobel Biocare, Ormco, and Kerr.
The company’s portfolio, which includes dental implants and treatment options, orthodontics, and digital imaging technologies, would cover nearly 90% clinical needs of dentists.
Last month, Envista has agreed to acquire scanning technology business from the affiliates of Carestream Dental for $600m.
The scanning technology business comprises Carestream Dental’s intraoral scanner equipment and related software.
The intraoral scanner equipment includes CS 3600, CS 3700, CS 3800, CS Scanflow, CS Connect, CS solutions for implants and CS solutions for restorations.