Dentsply Sirona Inc. has signed a binding agreement to acquire Israeli dental implant systems manufacturer MIS Implants Technologies Ltd. for $375 million in cash.
MIS implants, a privately held company, sells dental implants under its MIS brand and has annual sales of about $80 million. It operates mainly in the affordable implants sector and sells its products in 65 countries.
Dentsply CEO Jeffery T. Slovin said, "MIS is uniquely positioned to address the value segment of the market in both its home region and around the globe. It is strategically important to be able to address the entire multi-billion dollar implant market with distinct organizations, portfolios and brands targeting both the premium and value segments."
He added, "MIS has a broad portfolio of implants and related products under a well-established brand making it a great complement to our company. This acquisition underscores our commitment to deploying capital to drive growth and create shareholder value."
MIS was founded in 1995 and has become a major player in the dental implants sector without any major external investment other than from the founders and private investors the Peretz and Hirsh families. The company's CEO is Idan Kleifeld. In 2011, MIS raised an investment at a company value of $150 million from the private TA Fund, which has invested in several Israeli growth companies.
Published by Globes [online], Israel business news - www.globes-online.com - on June 27, 2016
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