CULVER CITY, California--Discus Dental, Inc., a leading direct manufacturer and marketer of professional and consumer dental products, has announced the acquisition of BriteSmile, Inc.'s "Associated Center" business and substantially all of BriteSmile's intellectual property in exchange for approximately $35 million in cash.
In connection with the purchase of these assets, Discus Dental and BriteSmile have settled all outstanding litigation between the two companies.
BriteSmile's Associated Center business consists of approximately 5,000 independent dental offices in more than 40 countries globally. Each Associated Center utilizes the BriteSmile light-activated teeth whitening system consisting of the whitening light and the procedure kit.
"The completion and successful integration of this acquisition not only establishes Discus Dental as the dominant company in the light-activated chairside whitening category but also as the world leader in professional whitening" stated Robert Hayman, President & CEO of Discus Dental, Inc.
Discus Dental will continue to manufacture, market, distribute and provide ongoing support for all BriteSmile Associated Centers.
The transaction was managed by Houlihan, Lokey, Howard & Zukin and Phoenix Partners LLC as co-financial advisors, providing M&A and corporate finance services along with additional legal services provided by Cooley Godward, LLP. Bank of America served as the lead in the financing of the transaction on behalf of Discus Dental, Inc.