YORK, Pa., March 26, 2018 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona”) (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.
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.
Joshua Zable, IRC
Vice President, Investor Relations
Forward-Looking Statements and Associated Risks
Information the Company has included or incorporated by reference in this press release, and information which may be contained in other filings with the Securities and Exchange Commission (“SEC”) as well as press releases or other public statements, contains or may contain forward-looking statements. These forward-looking statements include, among other things, statements about the Company’s plans, objectives, expectations (financial or otherwise) or intentions.
The Company’s forward-looking statements involve risks and uncertainties. Actual results may differ significantly from those projected or suggested in any forward-looking statements. The Company does not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Any number of factors could cause the Company’s actual results to differ materially from those contemplated by any forward-looking statements, including, but not limited to, the risks associated with the following:
- the Company’s ability to remain profitable in a very competitive marketplace, which depends upon the Company’s ability to differentiate its products and services from those of competitors
- the Company’s failure to anticipate and appropriately adapt to changes or trends within the rapidly changing dental industry
- the effect of changes in the Company’s management and personnel
- the Company’s ability to control costs
- changes in applicable laws, rules or regulations, or their interpretation or enforcement, or the enactment of new laws, rules or regulations, which apply to the Company’s business practices (past, present or future) or require the Company to spend significant resources for compliance
- the Company’s failure to execute on, or other issues arising under, certain key client contracts
- a significant failure or disruption in service within the Company’s operations or the operations of key distributors
- the Company’s failure to successfully integrate the business operations or achieve the anticipated benefits from any acquired businesses
- results in pending and future litigation, investigations or other proceedings which could subject the Company to significant monetary damages or penalties and/or require us to change our business practices, or the costs incurred in connection with such proceedings
- the Company’s failure to attract and retain talented employees, or to manage succession and retention for its Chief Executive Officer or other key executives
- the impact of the Company’s debt service obligations on the availability of funds for other business purposes, the terms of and required compliance with covenants relating to the Company’s indebtedness and its access to the credit markets in general
- general economic conditions
- other risks described from time to time in the Company’s filings with the SEC
You should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, (“Risk Factors”) in the company’s annual report on Form 10-K and information which may be contained in the Company’s other filings with the SEC, when reviewing any forward-looking statement. The Company notes these factors for investors as permitted under the Private Securities Litigation Reform Act of 1995. Investors should understand it is impossible to predict or identify all such factors or risks. As such, you should not consider either foregoing lists, or the risks identified in the Company’s SEC filings, to be a complete discussion of all potential risks or uncertainties.
Source:DENTSPLY SIRONA Inc.