Jul 23 2004
Sybron Dental Specialties, Inc., a leading manufacturer of value-added products for the dental and orthodontic professions and products for use in infection prevention, announced today that its subsidiary Kerr Corporation has purchased the Bioplant synthetic bone regeneration product line from Bioplant Products, Inc., a privately held biomedical company headquartered in South Norwalk, CT. The acquired Bioplant product line, which generated sales of approximately $2 million in 2003, is a material used to promote the regeneration of bone in an extraction socket. In this transaction, Kerr Corporation has purchased the inventory and manufacturing equipment related to this product line, and received the exclusive license to sell Bioplant in the dental market.
Utilized in tooth implant and restoration procedures, Bioplant acts as a scaffold for new bone formation. In 2004, Bioplant was the only bone regeneration product to be named a Choice Product by Reality Publishing, a leading authority on products for the dental community.
"We are very pleased to add another highly differentiated product that expands our offerings for restorative procedures," said Floyd W. Pickrell, Jr., Chief Executive Officer of Sybron Dental Specialties. "Bioplant has been recognized by leading industry researchers as the premier bone regeneration product available in dentistry, yet still has relatively low awareness in the marketplace. As we leverage the breadth and experience of our sales force to educate dentists about the superior qualities of Bioplant, we believe we can generate significant growth in this product line in the future.
"We believe this transaction has many similarities to our highly successful acquisition of the Safe-Wave line of disposable air/water syringes in 2000. In that transaction, we acquired a single product line, transferred the production to our own facilities, and used our sales and marketing teams to generate double-digit sales increases of the Safe-Wave products each year. We are optimistic that we can use the same strategy and produce similar results with the Bioplant product line," said Mr. Pickrell.
Sybron will finance the acquisition through the existing cash on its balance sheet. The Company expects the acquisition to be accretive within the first year of operations.
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