Danaher to Acquire Swiss Dental Implant Company Nobel in $2.2 Billion Deal
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The Danaher Corporation, an American science and healthcare conglomerate, has agreed to acquire Swiss dental implant company Nobel Biocare Holding, according to an announcement made on Sept. 15.
Nobel has been valued at about $2.2 billion.
This will put Danaher in what the company called an “unmatched position” in the dental implants market, a premium segment of the rapidly growing cosmetic dentistry industry.
Under the deal, Nobel will maintain its brand and autonomous identity, functioning as a standalone company underneath Danaher.
The offer is pending regulatory approval. Shareholders must also agree to sell at least 67% of outstanding shares.
Danaher is expecting $3 billion in yearly sales following the acquisition.
If all goes as planned, the offer will be completed late this year or early next.
The Market Reacts
Danaher has offered to acquire outstanding shares at a price of 17.10 Swiss francs, or approximately $18.31, each. This is a 23% premium on the company’s closing stock when the deal was first proposed.
Nobel stock dropped nearly 6%, however, at the news. Experts had predicted each share might garner a price of over 20 francs.
Danaher stock rose 0.9%, closing at $77.54 on the New York Stock Exchange.
“The most I expect out of this acquisition is for the company to reset dentist’s fees that are tied together with how many implants we can sell from the company,” says Candace Flemming, Manager of Anchorage Midtown Dental.
A Growing Industry
Dental implants are surgical fixtures that are integrated in the jaw bone and provide support for dental prosthetics such as crowns, bridges or dentures. The implant process, called osseointegration, is performed and allowed to heal. The desired prosthesis is then affixed, either permanently or allowing for regular removal.
This method allows for more secure attachment of false teeth.
Bone loss typically occurs when there are no tooth roots to stimulate renewal. This means that missing teeth can cause the bone to shrivel in on itself, leading to pain or inhibited function.
Dental implants act as artificial tooth roots and prevent continued bone loss.
Dental implant research has been drawing increased attention. Just this week, the Academy of Osseointegration called for applicants on research grants of up to $30,000 each.
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