Dentsply Sirona Inc. (NASDAQ: XRAY) today announced that it has successfully completed the merger of equals between Dentsply International Inc. and Sirona Dental Systems Inc. The merger of Dentsply, a market leader in dental consumables, and Sirona, a market leader in dental technology and equipment, creates one of the world’s largest and most diversified manufacturers of professional dental products and technologies.
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Dentsply Sirona will have leading positions and some of the most well-established brands across consumables, equipment, technology, and specialty products to address the needs of dental professionals, specialists, and dental labs. With one of the largest research and development platforms in the industry, Dentsply Sirona will develop and support innovative end-to-end clinical solutions that advance patient care.
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By combining Dentsply’s consumables platform with Sirona’s technology and equipment, the new company offers perhaps the most products and integrated solutions of any dental company. Dentsply Sirona’s wide array of products for dental professionals and labs enable the treatment of general and specialty procedures, including implantology, endodontics, and orthodontics. The new company plans to continue to drive the adoption of new and approved technology and integrated solutions for more efficient workflows.
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The merger unites the two leading innovators in dental, each with over 100 years of experience. Combined, Dentsply Sirona will have an research and development platform of over 600 experienced scientists and engineers to foster the development of better dental care.
Jeffrey T. Slovin, chief executive officer of Dentsply Sirona, stated: “With our merger complete, Dentsply Sirona can now focus its efforts on empowering dental professionals to provide better, safer, and faster dental care. As “The Dental Solutions Company,” we will drive long-term growth by being uniquely positioned to deliver innovative solutions and support our customers with the broadest product portfolio and the largest sales and service infrastructure in the industry. Dentsply Sirona will continue to be at the forefront of the digitization of dentistry, single visit dentistry, and improving clinical outcomes for patients around the world.”
Bret W. Wise, executive chairman of Dentsply Sirona, adds, “This is a transformational day for Dentsply Sirona and the entire dental market. Our unparalleled offering of some of the most trusted brands in consumables, equipment and technology makes Dentsply Sirona the partner of choice to dental professionals and labs today. With an unmatched commitment to investing in research, product development, and clinical education, Dentsply Sirona will advance patient care and improve oral health on a global scale for years to come.”
Dentsply and Sirona completed their merger today, and shares of Sirona will cease trading at the close of the NASDAQ stock market today. Under the terms of the agreement, Sirona shareholders are receiving 1.8142 shares of Dentsply Sirona for each existing Sirona share.
Source: Dentsply Sirona press release 29 February 2016
