Modern Dental Group Limited, a global dental prosthetic device provider, announced that it has entered into a definitive agreement to acquire MicroDental Laboratories, a network of dental laboratories across North America. The transaction is anticipated to close ithis month, subject to shareholder approval.
Modern Dental Group, a publicly-held company trading on the Hong Kong Stock Exchange, maintains the largest share of the dental prosthetic markets in Western Europe, Australia, China, and Hong Kong. As a result of this transaction, Modern’s existing North American operations will be enhanced by 21 new dental laboratory locations in the United States and Canada.
“Quality is at the forefront of everything we do at Modern Dental," says Godfrey Ngai, Executive Director and CEO of Modern Dental Group. "The acquisition of MicroDental Laboratories accelerates and aligns perfectly with our strategy for global growth and growth in North America. We are very excited about our future and this is a great day for Modern Dental Group and for MicroDental. We will continue to build on the strength of the MicroDental brand and leverage our breadth of technical support, education, and product offering backed by the best customer care in the business.”
Laing F. Rikkers, Board Member of MicroDental and Managing Director of HealthpointCapital, which owns a majority interest in MicroDental, says: “We are pleased that Modern Dental is acquiring our business because they have a unique appreciation of the people, onshore production, technological capabilities, and brand at MicroDental. It is a great marriage that will be positive for the employees, customers, and patients by making them a part of the strongest dental laboratory company globally."