DENTSPLY SIRONA Buys MIS Implants For $375 Million Cash

DENTSPLY SIRONA Inc. (NASDAQ: XRAY) revealed that it reached a definitive agreement to buy all the outstanding shares of privately held Israel-based MIS Implants Technologies Ltd. for $375 million in cash.

According to Dentsply, this transaction would be accretive to its adjusted earnings per share within the first twelve months after the closure of the transaction. The company added that MIS is a growing, as well as profitable dental implant systems maker with annual sales of approximately $80 million. The company claimed its leadership position in the value segment of the market, and sells its products under the MIS brand through a broad distribution network. It included a direct sales force and reaching of more than 65 nations.

The company's CEO, Jeffery T. Slovin, said, "MIS is uniquely positioned to address the value segment of the market in both its home region and around the globe. It is strategically important to be able to address the entire multi-billion dollar implant market with distinct organizations, portfolios and brands targeting both the premium and value segments."

He continued, "MIS has a broad portfolio of implants and related products under a well-established brand making it a great complement to our company. This acquisition underscores our commitment to deploying capital to drive growth and create shareholder value."

On Friday, the stock traded down by 4.53 percent.