Health and Healthcare
DENTSPLY Slides on Acquisition News
Published:
Last Updated:
DENTSPLY International Inc. (NASDAQ: XRAY) saw its shares pull back slightly in Monday’s session following news of an acquisition. The company announced a definitive agreement to acquire all of the outstanding shares of privately held MIS Implants Technologies, a dental implant systems manufacturer headquartered in northern Israel, for $375 million in cash.
Dentsply Sirona expects this transaction to be accretive to adjusted earnings per share within the first year following the closing of the transaction.
Moelis & Co. is acting as the financial advisor to Dentsply Sirona.
For some background, Dentsply Sirona is the world’s largest manufacturer of professional dental products and technologies. The company develops, manufactures, and markets a comprehensive solutions offering including dental and oral health products as well as other consumable medical devices under a strong portfolio of world class brands.
Jeffery T. Slovin, CEO of Dentsply Sirona, commented:
MIS is uniquely positioned to address the value segment of the market in both its home region and around the globe. It is strategically important to be able to address the entire multi-billion dollar implant market with distinct organizations, portfolios and brands targeting both the premium and value segments. MIS has a broad portfolio of implants and related products under a well-established brand making it a great complement to our company. This acquisition underscores our commitment to deploying capital to drive growth and create shareholder value.
So far in 2016 Dentsply stock has performed relatively flat in comparison to the broad markets. However over the past year, the stock is actually up 17%.
Shares of Dentsply were last trading down 3.4% at $59.19, with a consensus analyst price target of $68.67 and a 52-week trading range of $49.48 to $65.83.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
