Two of the dental industry’s largest companies revealed a blockbuster deal September 15 as DENTSPLY International Inc. and Sirona Dental Systems, Inc. announced the Boards of Directors of both companies have unanimously approved a definitive merger agreement. The combination will create a company known as DENTSPLY SIRONA with the largest sales and service infrastructure in the dental industry with 15,000 employees globally.
“This is an exciting day for both companies, for the dental community, and for patients around the globe,” says Jeffrey T. Slovin, President and Chief Executive Officer of Sirona, who will serve as CEO of the combined company. “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.”
The combined company, supported by its leading platforms in consumables, equipment, and technology, will offer a powerful set of complementary offerings and end-to-end solutions to enhance patient care. Dental professionals across the globe will be supported by the largest sales and service infrastructure in the industry, supported by leading distributors, to deliver an optimized product range that will meet the increasing global demand for digital dentistry and integrated solutions.
“We are excited about bringing together two industry leaders,” says Bret W. Wise, Chairman and Chief Executive Officer of DENTSPLY, who will serve as Executive Chairman of the combined company. “DENTSPLY SIRONA will offer a comprehensive line of solutions to more effectively meet the needs of dental professionals 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 to 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.”
DENTSPLY SIRONA will trade on the NASDAQ under the symbol XRAY. DENTSPLY SIRONA’s global headquarters will be located in York, Pennsylvania, the location of DENTSPLY’s current headquarters, while the International headquarters will be located in Salzburg, Austria.
As Executive Chairman, Wise will work in collaboration with Slovin to execute the corporate strategy and to integrate the companies and cultures. Slovin also will be a member of the Board of Directors.
From DENTSPLY, Christopher T. Clark and James G. Mosch will serve as President and Chief Operating Officer, Technologies, and President and Chief Operating Officer, Dental and Healthcare Consumables, respectively. From Sirona, Ulrich Michel will serve as Executive Vice President andChief Financial Officer. The Board of Directors will consist of 11 members, 6 of whom (including Wise) are current DENTSPLY directors and 5 of whom (including Slovin) are current Sirona directors. Additional senior leadership positions at DENTSPLY SIRONA will be named at a later date, including representatives from both companies. The transaction, which is expected to be completed in the first quarter of 2016, is subject to the receipt of certain regulatory approvals and other customary closing conditions and approvals.