Carestream Dental plans to sell its scanning technology business to Envista Holding Corporation for $600 million.
The Scanning Technology business is composed of Carestream Dental’s intraoral scanner equipment and related software.
Carestream Dental will continue to operate its imaging technology, clinical software, and practice management software businesses which provide solutions for dental practices, groups, DSOs, and industry partners.
The sale of the scanning technology business will deliver significant proceeds representing the value of the company’s innovation processes and allow Carestream Dental to focus its investments and efforts in the growing dental cloud and technology solutions market.
Subject to legal, regulatory, and employee consultation requirements, it is anticipated that the transaction will close in late Q1/early Q2 of 2022.
Its recent investments in Sensei Cloud practice management and Swissmeda’s suite of clinical software solutions complement the company’s focus on device innovation with new growing software as a service applications focused on helping practices and groups build new revenue, profits, and patient flows.
“We’ve had a multi-year investment plan in cloud solutions and technology, and this transaction allows us to better focus and accelerate our innovation in AI tools, clinical cloud applications, and cloud practice management for GPs, DSOs, and specialty practices,” said Lisa Ashby, chief executive officer of Carestream Dental. “We will continue to work together with our customers and partners to create innovation which delivers both clinical and operational value, and think Envista represents a great home for our Scanning Technology business under which our employees and customers will thrive.”
Photo via Carestream Dental