Envista Holdings Corporation acquired Carestream Dental Intraoral Scanner (IOS) Business for $580.3 million (including $7.5 million contingent consideration), a transaction completed in April 2022, structured as all cash.
Carestream Dental Intraoral Scanner (IOS) Business operates in Equipment & Consumables, is based in global (private carve-out from Carestream Dental Technology Parent Limited, England & Wales), had revenue of about expected annual sales of around $60 million in 2021 (per Envista's announcement). Envista acquired the intraoral scanner business of Carestream Dental Technology Parent Limited for total consideration of $580.3 million (including $7.5 million of contingent consideration), under a Stock and Asset Purchase Agreement dated December 21, 2021 and a closing agreement dated April 20, 2022. Announced December 22, 2021 and closed April 20, 2022, the business manufactures, markets, sells, distributes and services intraoral scanners and software. It was folded into the Equipment & Consumables segment, and management subsequently relaunched the scanners under the DEXIS brand and moved to integrate them into its DTX Studio platform.
Focus on the fastest-growing segments of the dental market and advance the digitalization of dental workflows; intraoral scans are often the first step in the digital workflow and are critical to high-value procedures such as implants, prosthetics and aligners.
High-growth, high-margin intraoral-scanning business complementary to both the Equipment & Consumables and Specialty Products & Technologies segments. Adds intraoral scanning as the entry point to Envista's broader digital dental workflow and implant/aligner offerings. Equipment & Consumables segment; scanners relaunched under the DEXIS brand Envista management, Q1 2022 and subsequent earnings calls: 'On April 20th, we closed the acquisition of the Carestream Dental's intraoral scanner IOS business ...' and later, 'The acquisition of Carestream Dental's IOS business has been successfully integrated into Envista, and we have relaunched the product under the DEXIS brand name. We intend to integrate the DEXIS scanner into our DTX platform ...'
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.Amir Aghdaei, President & CEO, Envista Holdings Corporation (December 22, 2021 announcement)
On April 20th, we closed the acquisition of the Carestream Dental's intraoral scanner IOS business. This acquisition is an important step in our journey of digitizing, personalizing, and democratizing dental care.Envista management, Q1 2022 earnings call
Advisory firms were not disclosed for this transaction.