Danaher to create new dental company: Envista
Today, the Danaher Corporation announced plans to create a spin-off company comprised of three companies in the firm’s existing dental segment: Nobel Biocare Systems, KaVo Kerr, and Ormco. These businesses, which all have significant brands and holdings related to the dental implants, orthodontics, dental equipment and consumables markets, will operate under the direction of the new entity: the Envista Holdings Corporation.
Danaher’s group executive in charge of its dental segment, Amir Aghdaei, will become President and Chief Executive Officer at Envista.
"Envista's culture will be built on four core values: 'Better Choices, Better Outcomes,' 'Relationships Built on Trust,' 'Innovation in Action,' and 'Continuous Improvement as a Competitive Advantage,’” said Aghedaei in a statement. “Our Danaher heritage helped us shape these values and serves as a strong foundation for our business. The Envista Business System, which will be based on the Danaher Business System, will be our common operating model."
Envista’s separation from Danaher will give the company the agility to compete in a market which is seeing technological disruptions create dramatic change in a short amount of time.
3D printing, the popularization of natural dental products, digital imaging and automated organizational and business tools are all impacting the industry, which is expected to exhibit an average annual growth rate of 1.65%, reaching $37.6bn by 2021 according to MarketWatch.
Envista is expected to undergo an initial public offering in the second half of 2019. The company will employ approximately 12,000 people and be listed on the NYSE.