HealthpointCapital LLC of New York plans to buy DTI Dental Technologies Inc, Canada’s largest maker of dentures and braces, in a $24.3-million acquisition that will give it 16 dental laboratories across Canada and the United States.
“We’re very stretched on the financial resource side of things and HealthpointCapital has the financial resources to allow us to grow in the areas we have been targeting,” says Brenda Edwards, chief financial officer of DTI Dental Technologies.
HealthpointCapital has agreed to pay $1.60 per share for DTI Dental Technologies in a deal that more than doubled the stock market value of the Vancouver-based company.
DTI operates dental laboratories in Vancouver, Calgary, Ottawa Hamilton, and seven US states. It designs and manufactures crowns, bridges, and orthodontic appliances that are sold across North America.
[www.cbc.ca, July 17, 2006]