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DENTSPLY and Sirona Dental Systems have approved a merger agreement under which the companies will combine in an all-stock merger of equals. The transaction will result in the world’s largest manufacturer of professional dental products and technologies, valued at approximately $13.3 billion.
The transaction tops Danaher’s $2.2 billion buyout of dental specialist Nobel Biocare in December 2014. Zimmer’s $13 billion buyout of Biomet also resulted in an enlarged dental unit at Zimmer Biomet. The two companies’ dental units had revenues of $500 million in 2014.
Sirona had revenues of $1.1 billion in 2014, led by computer-aided design and computer-aided manufacturing systems, which accounted for 37% of revenues. The segment focuses on “digital dentistry offerings” like digital impressions. Imaging systems, offerings to treatment centers, and instruments accounted for the remainder of revenues.
“We are excited about bringing together two industry leaders,” said Bret W. Wise, Chairman and Chief Executive Officer of DENTSPLY. “DENTSPLY SIRONA will offer a comprehensive line of solutions to more effectively meet the needs of dental customers all over the world and advance patient care. With a strong financial profile, comprehensive product offerings and integrated solutions, DENTSPLY SIRONA will be uniquely positioned to deliver attractive returns for our shareholders and make dentistry better, faster and safer around the world. I look forward to working with Jeff and the combined management team to deliver on this mission.”
The new company will have impressive breadth and depth, covering everything from dental imaging systems, implants, and orthodontic implants, to fluoride, specialized dental instruments and office furniture.
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