YORK, Pa., March 26, 2018 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc.(NASDAQ:XRAY), The Dental Solutions Company, today announced the signing of a definitive agreement to acquire OraMetrix, a leading industry provider of innovative 3-D technology solutions improving the quality and efficiency of orthodontic care.
OraMetrix offers an advanced, CAD platform developed for dental professionals to deliver consistently predictable orthodontic outcomes. The acquisition will enable Dentsply Sirona to provide a comprehensive orthodontic offering that will include a full arch clear aligner solution.
Following the acquisition, Dentsply Sirona will be able to provide an end-to-end digital workflow with a comprehensive range of devices to enable dental professionals to match their patient’s growing demands for aesthetics and speed of treatment.
Donald M. Casey, Jr., Dentsply Sirona’s Chief Executive Officer commented: “The acquisition of OraMetrix underscores our commitment to invest in differentiated technologies to drive innovation in the dental industry while strengthening our position in the marketplace and leveraging our global footprint.”
OraMetrix has revenues of approximately $20 million and is profitable. In order to accelerate and broaden the commercialization of OraMetrix’s technologies and services, Dentsply Sirona is planning to incur additional investments and expenses which will be slightly dilutive to overall earnings per share in 2018 and 2019. The transaction is expected to close in the second quarter 2018, following customary approval requirements.
Bryan Cave LLP is serving as legal advisor to Dentsply Sirona. Leerink Partners LLC and Haynes and Boone, LLP are serving respectively as financial adviser and as legal adviser to OraMetrix.
About OraMetrix:
OraMetrix is the leading industry provider of innovative 3-D technology solutions improving the quality and efficiency of orthodontic care. Our proprietary technology, the SureSmile system, represents a significant leap forward in orthodontics. SureSmile allows the use of precision digital tools throughout all phases of the orthodontic treatment process – diagnosis, treatment planning and monitoring, and arch-wire customization. For doctors, SureSmile offers more precision, efficiency and control, while patients experience shorter treatment times, less overall discomfort and fewer office visits. The result is an orthodontic treatment system that delivers unparalleled results for patients and doctors alike. OraMetrix, founded in 1998, has approximately 130 employees in the United States, Germany, and Australia.
About Dentsply Sirona:
Dentsply Sirona is the world’s largest manufacturer of professional dental products and technologies, with over a century of innovation and service to the dental industry and patients worldwide. Dentsply Sirona develops, manufactures, and markets a comprehensive solutions offering including dental and oral health products as well as other consumable medical devices under a strong portfolio of world class brands. As The Dental Solutions Company™, Dentsply Sirona’s products provide innovative, high-quality and effective solutions to advance patient care and deliver better, safer and faster dentistry. Dentsply Sirona’s global headquarters is located in York, Pennsylvania. The company’s shares are listed in the United States on NASDAQ under the symbol XRAY. Visit www.dentsplysirona.com for more information about Dentsply Sirona and its products.
