Dentsply Sirona acquires clear aligner provider Byte in all-cash deal valued at 1.04 billion

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Dentsply Sirona Inc. said Monday it has acquired Byte, a privately owned clear aligner provider, in an all-cash deal valued at $1.04 billion. Byte offers doctor-directed care to patients with mild to moderate orthodontic needs, using a network of licensed dentists and orthodontists to deliver clear aligners to straighten teeth directly to a consumer’s home. The current chief executive, Neeraj Gunsagar, and management team will continue to run the company. “We have been pleased with the growth of our SureSmile clear aligner business and we are confident that adding the innovative platform of Byte adds scale for us in the important clear aligner market,” Dentsply Chief Executive Don Casey said in a statement. The deal is expected to boost adjusted per-share earnings by 5 cents in 2021 and combined with SureSmile, to generate a clear aligner revenue run rate of more than $300 million by year-end. The deal closed on Dec. 31 and was funded with cash on Dentsply’s balance sheet. Shares rose 0.7% premarket but have fallen 7% in the last 12 months, while the S&P 500 has gained 16%.
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