Healthcare Industry News: Healthpoint
News Release - August 24, 2006
HealthpointCapital Announces the Purchase of DTI Dental Technologies Inc.NEW YORK and VANCOUVER, British Columbia, Aug. 24 (HSMN NewsFeed) -- HealthpointCapital, LLC ("HealthpointCapital") announced today its purchase of DTI Dental Technologies Inc. ("DTI" or "Company"). 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, headquartered in Vancouver, British Columbia, Canada, is one of the largest companies in the dental laboratory industry.
"The dental market represents one of the fastest growing sectors in the medical technology industry," stated John H. Foster, 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 first-rate management team and the lab's reputation for providing high quality products and unparalleled service to its dentist customers."
Paolo Kalaw, CEO of DTI, commented, "I am excited about the DTI/HealthpointCapital partnership. HealthpointCapital's expertise in helping healthcare companies expand will allow DTI to build the leading dental lab organization in North America."
Mr. Foster will serve as the Chairman of the Board, and Mortimer Berkowitz III, President and Managing Director of HealthpointCapital, will serve as a Director of the Company. HealthpointCapital intends to have Paolo Kalaw continue as Director and CEO of the company and HealthpointCapital intends to retain DTI's entire Executive and Lab Management Team.
DTI Dental Technologies Inc.
Headquartered in Vancouver, British Columbia, DTI Dental Technologies Inc. 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 focused on the orthopedic and musculoskeletal industries. HealthpointCapital has $500 million of institutional capital under management.
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