Envista Holdings Corp. (NYSE: NVST) has acquired Carestream Dental’s Intra-Oral Scanner business for $600 million.
The deal follows Envista’s long-term strategy of concentrating on fast growing segments in the dental market to create a differentiated services offering through digitalization. The Carestream business is expected to generate $60 million in revenue in 2021 and represents a complementary, high margin business to Envista’s existing segments.
“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,” stated Amir Aghdaei, Envista CEO. “We are excited to add a suite of world-class intra-oral scanners and software to our portfolio. This acquisition further enables our purpose of partnering with dental professionals to improve patients’ lives by digitizing, personalizing, and democratizing dental care.”
J.P. Morgan Securities LLC acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor to Envista on the transaction.