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(“BioHorizons” or the “Company”) has been formed to create a leading digital dentistry company in the dental implant market by combining DTI Dental Technologies, Inc. and BioHorizons Implant Systems. The uniqueness stems from expertise in the digital world provided by a large scale dental laboratory and the implant expertise provided by a leading dental implant company.
Digital dentistry is the future of implant dentistry. The sophisticated dental laboratory has almost all of the experience and knowledge of digital data gathering, computer aided design of crowns and abutments, and computer aided manufacturing. Today, virtually no dental implant company has knowledge of or experience with digital technology or its use. Long term, leadership and success in the dental implant industry will go to early adopters who can execute, support, and deliver to dentists a digitally designed and manufactured, complete and customized set of products and tools for each patient procedure. BioHorizons, Inc. will be the first dental implant company in the age of digital dentistry.
BioHorizons’ headquarters will be in Birmingham, Alabama. The combined company generated approximately $150 million in revenues in 2007, making it one of the largest implant dentistry companies in the world. The Company will have 23 operating facilities in North America, eight international facilities and over 1,000 employees. Most importantly, this marriage creates a differentiated restorative dental company that has the most complete product offering in the industry. This provides BioHorizons the ability to streamline the implant and restorative process creating a more efficient continuum of care and superior patient outcomes.
“This development creates a leader in restorative and implant dentistry” stated R. Steven Boggan, President and CEO of BioHorizons. “We are confident that we can decrease treatment times while simultaneously improving patient outcomes. Being the only company with direct experience from surgical planning through final restoration, we offer our current and future customers superior service.”
Wallace Sholdice, President of DTI explained, “We are very excited about this combination. BioHorizons and DTI share a vision for how to move the practice of dentistry into the digital age, especially implant dentistry. We will have the resources and expertise to provide significant value to our customers, particularly through continuing education and marketing programs that only an integrated company like BioHorizons can offer.”
Canaccord Adams acted as financial advisor in the merger.
For More Information:
Steve Boggan
President and CEO of BioHorizons, Inc.
205.967.7880
BioHorizons was founded in 1994 based on technology developed at the University of Alabama at Birmingham. The company has a broad product offering of dental implants including Tapered Internal, Single-stage, Internal, External, One-piece 3.0, and Overdenture. BioHorizons has exclusive distribution agreements with LifeCell Corp. and Osteotech, Inc. to market their allograft regeneration products to the dental community. The company has a direct sales force in the U.S., Canada, Germany, Spain, United Kingdom, Australia, Mexico, and Chile. Products are distributed in the rest of the world via a network of independent distributors.
www.biohorizons.com
DTI is the only dental laboratory network that provides innovative full practice growth support to dentists who want to excel above the status quo. The Company is a leader in digital dentistry which includes CAD/CAM restorations. Strategically located throughout North America, DTI’s laboratory network extends beyond a simple dental laboratory support as each laboratory represents an epicenter of innovation and artistry for the benefit of each practice we serve.
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NEW YORK, New York, VANCOUVER, Canada, and DUBLIN, California, March 12, 2007 /PRNewswire/ -- (“DTI” or “Micro”) by its portfolio company, DTI | Dental Technologies Inc. (“DTI”). DTI is the world’s leading cosmetic dentistry laboratory and maker of industry-leading MACVENEERS™. In the past 42 years, it has developed strong relationships with the nation’s most-prominent cosmetic dentists and is renowned for supplying award-winning, custom-manufactured restorative, reconstructive and cosmetic dental products such as crowns, bridges, veneers, implants, and dentures. Prior to this transaction, DTI had been a portfolio company of Riverside Partners since 2001. Terms of the transaction were not disclosed.
“The dental market represents one of the fastest growing sectors in the medical technology industry,” stated John H. Foster, Chairman of the Board of DTI and Chairman and Managing Director of HealthpointCapital. “The dental laboratory industry is a primary beneficiary of the public’s increasing interest in and willingness to pay for improved dental function and aesthetics. We were particularly attracted to DTI because of its strong brand, the depth of its management team and staff, and the relationships it has built through unparalleled service to cosmetically-oriented dentists.
The combination of Micro and DTI will create significant value because of its increased ability to utilize the latest in technology and provide continuing education to its technicians and dentists, while maintaining the service levels our clients expect.”
Fred Walke, President of Micro, stated, “Our management team is excited about the opportunity to join with DTI. As the third largest company in the industry, and the leading provider to the cosmetic dentistry market, we will be able to bring even more value to our customers.”
DTI is the world’s largest and most advanced cosmetic dental laboratory, setting the industry standard for innovation and quality for more than 40 years. DTI works closely with leading manufacturers, cosmetic dentists and professional organizations to help develop new materials, dental procedures and meaningful continuing educational opportunities for dental industry professionals. The company holds numerous patents, and many of the procedures DTI has developed have become industry best practices. DTI employs over 900 people.
Headquartered in Vancouver, British Columbia, DTI custom designs and fabricates crowns, bridges, dentures, cosmetic appliances and orthodontic appliances for its customers, dentists serving patients in need of restorative and cosmetic dentistry. DTI was founded in 1997 and has grown into one of the largest dental laboratory companies in the world with over 400 employees and a network of 16 labs in Canada and the United States. Consistency, quality, and communication are the cornerstones of success for each of DTI's labs and enable DTI to deliver “Peace of Mind” to its clientele.
HealthpointCapital is a values-driven, research-based private equity firm exclusively focused on orthopedic and the broadly based musculoskeletal businesses, the fastest growing segment within the medical device industry. Our cumulative 70 years of experience in healthcare technology, research and private investing enable us to help our clients capitalize on the explosive growth and unique investment opportunities in this sector. HealthpointCapital has approximately $600 million of institutional capital.
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