Merger to create world’s biggest manufacturer
Deal is thought to be worth nearly £9 billion
A merger between DENTSPLY International and Sirona Dental Systems will see the creation of the world’s largest manufacturer of professional dental products and technologies, worth nearly £9 billion ($13.3bn).
Under the terms of the agreement, Sirona shareholders will receive 1.8142 shares of DENTSPLY for each existing Sirona share. The new company will be named DENTSPLY SIRONA and, upon closing of the deal early next year, DENTSPLY shareholders will own 58 per cent, and Sirona shareholders 42 per cent of the combined company.
The new corporation is expected to have a net revenue of nearly £2.5bn ($3.8bn). The global headquarters will be located in Pennsylvania, United States – the current DENTSPLY HQ – with the international HQ in Salzburg, Austria.
Jeffrey Slovin, president and chief executive officer of Sirona said: “This is an exciting day for both companies, for the dental community and for patients around the globe. We are bringing together two world class companies that share a culture of innovation and will foster the development of differentiated, integrated solutions for general practitioners and specialists, particularly in the highest growth segments of the dental industry.
“Combining Sirona’s proven digital solutions and equipment with DENTSPLY’s leading consumables platform creates the most comprehensive dental solutions offering available to meet customer demand in every key segment. I look forward to leading the talented teams of both Sirona and DENTSPLY as we drive the global digitization of dentistry, offer superior solutions to customers and patients and create The Dental Solutions Company.”
And Bret Wise, chairman and chief executive officer of DENTSPLY, said: “We are excited about bringing together two industry leaders.DENTSPLY SIRONA will offer a comprehensive line of solutions to more effectively meet the needs of dental customers all over the world and advance patient care.
“With a strong financial profile, comprehensive product offerings and integrated solutions, DENTSPLY SIRONA will be uniquely positioned to deliver attractive returns for our shareholders and make dentistry better, faster and safer around the world. I look forward to working with Jeff and the combined management team to deliver on this mission.”