Henry Schein Picks up Another Dental Distribution Service

In late August 2016, Henry Schein, Inc. (NASDAQ: HSIC) announced its seventh dental acquisition since 2014. The acquisition of Marrodent gave the global dental products giant a presence in Poland, where Marrodent distributes dental equipment and dental laboratory supplies. With this addition, Henry Schein’s dental business now has operations or affiliates in 27 countries. In 2014, Henry Schein purchased five European dental companies from Arseus NV (EBR: RCUS), as well as New Jersey-based Lincoln Dental Supply, a supplier of dental products and equipment, and France-based Sirona Direct, the dental distribution business of Sirona Dental Systems Inc. (NASDAQ: SIRO). In 2015, the... Read More »

Dentsply Sirona Picks Up MIS Implants

Just last September, Dentsply International (NASDAQ: XRAY) acquired Sirona Dental Systems (NASDAQ: SIRO) for $5.5 billion in an all-stock transaction. The acquisition added Sirona’s worldwide dental equipment business, which posted revenues of $1.15 billion (4.8x) on a trailing 12-month basis, and EBITDA of $280 million (19.8x). The transaction created the world’s largest maker of professional dental products and technologies, with net revenue of approximately $3.8 billion and adjusted EBITDA of more than $900 million on pro forma basis. Nine months later, the combined company, now known as Dentsply Sirona Inc., purchased the Israeli dental implant maker MIS Implants... Read More »
J&J Slices Its Medical Device Division

J&J Slices Its Medical Device Division

Johnson & Johnson (NYSE: JNJ) announced the restructuring of its medical devices business on January 19, 2016. Its 8K filing noted pre-tax restructuring charges of $2.0 billion to $2.4 billion, expected to be incurred this year, as well as a Q4:15 charge of approximately $600 million. About 4% to 6% of the division’s global workforce will get walking papers over the next two years, resulting in a $500 million charge for severance. On a more upbeat note, JNJ expects to see annualized pre-tax cost savings of $800 million to $1.0 billion. This move comes as the market for medical devices has slowed, particularly in the United States. As one of many cost-cutting measures, U.S.... Read More »

Dental Deal Hits the Spotlight

It’s been a while since a dental deal made news. Last week’s largest deal was DENTSPLY International’s (NASDAQ: XRAY) $13.3 billion all-stock merger with Sirona Dental Systems Inc. (NASDAQ: SIRO). DENTSPLY designs, develops, manufactures and markets various consumable dental products for the professional dental market, while Sirona has a more technological spin on the market. It develops, manufactures and markets dental equipment worldwide through four segments, Dental CAD/CAM Systems; Imaging Systems; Treatment Centers; and Instruments. The merger will create the world’s largest maker of professional dental products and technologies, with net revenue of approximately $3.8 billion and... Read More »