Press release
Dentsply Sirona Acquires Byte®, a Leading Direct-to-Consumer, Doctor-Directed Clear Aligner Company
Enhances scale in the important clear aligner spaceAccelerates the growth and profitability of Dentsply Sirona’s combined clear aligners businessAccretive to
About this update from Dentsply Sirona Inc.
[{"type":"text","content":"Enhances scale in the important clear aligner spaceAccelerates the growth and profitability of Dentsply Sirona’s combined clear aligners businessAccretive to Dentsply Sirona’s long-term financial targets and Non-GAAP EPS in 2021 Dentsply Sirona to host investor call at 8:30 am ET on January 4, 2021 CHARLOTTE, N.C. and LOS ANGELES, Jan. 04, 2021 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona”) (Nasdaq: XRAY), and Byte, a rapidly growing clear aligner company, today announced that Dentsply Sirona acquired Byte in an all-cash deal for $1.04 billion. Byte holds a leadership position in the rapidly growing direct-to-consumer, doctor-directed clear aligner market. As a result of the transaction, Dentsply Sirona adds scale to its SureSmile® clear aligner business and strengthens its connection with dental professionals. With the global reach and supply chain expertise of Dentsply Sirona, and the innovative direct-to-consumer system that Byte brings, the combined company’s clear aligner platform is well-positioned to drive additional growth. Byte has developed an innovative business model, built on doctor-directed care that provides excellent outcomes for patients with mild to moderate orthodontic needs. Byte was founded on the commitment to improve access and affordability to orthodontic care using a nationwide network of licensed-dentists and orthodontists. It offers effective treatment planning and an easy-to-use clear aligner solution delivered directly to a consumer’s home. The CEO of Byte, Neeraj Gunsagar, and the existing management team will continue to operate the business. Don Casey, Chief Executive Officer of Dentsply Sirona, said, “Over the past two years, we have executed against our restructuring plan, strengthening the R&D, supply chain and commercial platforms, positioning Dentsply Sirona for long-term growth. We are excited to take the next step in our evolution by bringing Byte into our organization. We have been pleased with the growth of our SureSmile clear aligner business and we are confident that adding the innovative platform of Byte adds scale for us in the important clear aligner market. We look forward to working with the talented team at Byte as we utilize our collective strengths to expand patient access to quality care and support the success of our dental partners around the world.” Neeraj Guns...