DENTSPLY SIRONA Acquires the Assets of Propel Orthodontics, a Leading Innovator in Orthodontic Devices

Rhea-AI Summary

Dentsply Sirona (Nasdaq: XRAY) has acquired Propel Orthodontics for $131 million in cash. The acquisition includes Propel's VPro device and the Fastrack Mobile App, enhancing Dentsply's position in the growing clear aligner market. Propel Orthodontics is recognized for its innovative orthodontic devices and offers solutions for both in-office and at-home use. This strategic move aims to complement Dentsply's existing Byte® and SureSmile® businesses, reinforcing its commitment to advancing patient care in dentistry.

Positive

• Acquisition of Propel Orthodontics strengthens Dentsply Sirona's position in the clear aligner market.
• The $131 million deal enhances Dentsply's product offerings with innovative devices like the VPro and Fastrack Mobile App.
• Product lines from Propel complement existing Byte® and SureSmile® businesses.
• Strategic growth opportunity in the expanding orthodontic solutions market.

Negative

• None.

CHARLOTTE, N.C., June 04, 2021 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona”) (Nasdaq: XRAY), today announced that it has acquired substantially all of the assets of Propel Orthodontics in an all-cash deal for $131 million. The assets acquired include the VPro device and the Fastrack Mobile App. Propel Orthodontics is a leading innovator, manufacturer, and worldwide seller of orthodontic devices. Propel Orthodontics offers in-office and at-home orthodontic solutions to dentists and their patients. The acquisition is an important step for Dentsply Sirona to further strengthen its position in the fast-growing clear aligner market. The acquired product lines perfectly complement the Byte® and SureSmile® businesses.

About Propel Orthodontics

Propel Orthodontics is a leading innovator, manufacturer and worldwide seller of orthodontic devices with offices in Briarcliff Manor, New York, and San Jose, California. The company provides in-office and at-home orthodontic accessory devices to orthodontists and their patients, including the VPro5™, a vibratory orthodontic device used to properly seat aligners in 5 minutes a day. 

About Dentsply Sirona

Dentsply Sirona is the world’s largest manufacturer of professional dental products and technologies, with a 134-year history of innovation and service to the dental industry and patients worldwide. Dentsply Sirona develops, manufactures, and markets a comprehensive solutions offering including dental and oral health products as well as other consumable medical devices under a strong portfolio of world class brands. As The Dental Solutions Company, Dentsply Sirona’s products provide innovative, high-quality and effective solutions to advance patient care and deliver better, safer and faster dentistry. The Company’s shares of common stock are listed in the United States on Nasdaq under the symbol XRAY. Visit www.dentsplysirona.com for more information about Dentsply Sirona and its products.

Contact Information

Investors:
Andrea Daley
VP, Investor Relations
+1-704-805-1293
Andrea.Daley@dentsplysirona.com 

 

FAQ

What did Dentsply Sirona acquire from Propel Orthodontics?

Dentsply Sirona acquired substantially all assets of Propel Orthodontics, including the VPro device and Fastrack Mobile App.

How much did Dentsply Sirona pay for Propel Orthodontics?

Dentsply Sirona paid $131 million in cash for the acquisition.

Why is the acquisition of Propel Orthodontics important for Dentsply Sirona?

The acquisition is important as it strengthens Dentsply Sirona's position in the fast-growing clear aligner market and complements its existing orthodontic product lines.

What products does Propel Orthodontics offer?

Propel Orthodontics offers in-office and at-home orthodontic devices, including the VPro5™, which helps properly seat aligners.