By DrBicuspid Staff

September 16, 2015 -- Dentsply International and Sirona Dental Systems announced on September 15 that the boards of directors of both companies have unanimously approved a merger agreement. The company will be called Dentsply Sirona.

The transaction, subject to the receipt of certain regulatory approvals and other customary closing conditions and approvals, is expected to be completed in the first quarter of 2016. The merger will create a combined company with 15,000 employees globally, according to the companies.

"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," stated Jeffrey Slovin, president and CEO of Sirona, in a press release. "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 companies will have net revenue of approximately $3.8 billion and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of more than $900 million.

"We are excited about bringing together two industry leaders," stated Bret Wise, chairman and CEO of Dentsply, in the release. "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."

Global headquarters will be located in York, PA, the location of Dentsply's current headquarters.


Copyright © 2015 DrBicuspid.com
 

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