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01 Nov 2005 | Australasian Dental Practice

news > Spectrum > Page 16

Schick to merge with Sirona

CEREC

Schick Technologies, Inc., manufacturer of digital radiographic imaging systems and Sirona Dental Systems, one of the world's leading manufacturers of high-technology dental equipment, have announced they will merge in a transaction valued at US$1.9 billion.


"This transaction represents a significant strategic growth opportunity," said Schick President and CEO, Jeffrey T. Slovin. "We will create a company with a strong global presence, an unrivaled breadth of products and excellence in R&D. Together we command an extraordinary level of brand recognition around the world."

"We are excited about this merger and confident of the future growth of the combined company. Schick is a logical fit, complementing Sirona's strengths, particularly in the United States," commented Jost C. Fischer, Chairman, President and Chief Executive Officer of Sirona. "Sirona and Schick are two of the true innovators in our sector, and our united R&D platform will benefit our distribution partners, customers and patients."

Mr Fischer will become Chairman, President and Chief Executive Officer of the combined Sirona Dental Systems, Inc and Sirona will hold seven seats on the combined company's board, with Schick holding the remaining three.

The combined company will have 1,800 employees and, on a pro forma basis for the twelve months ended June 30, 2005, a revenue of approximately US$500 million worldwide, including over US$180 million in North America.

The transaction will create a leading global player in dental technology with strong product lines in all major segments. Schick has a leading position in digital intra-oral imaging systems in North America, while Sirona is a leading supplier of CEREC CAD/CAM restoration equipment, panoramic and intra-oral imaging systems, treatment centers and instruments worldwide.

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