Healthcare Industry News: Royal Philips Electronics
News Release - October 11, 2010
Discus Dental Acquired by PhilipsThe Global Leader in Professional Tooth Whitening and Oral Care Products Acquired by Philips, the Makers of Sonicare, Broadening Its Oral Healthcare Portfolio
CULVER CITY, CA--(Healthcare Sales & Marketing Network) - Today, Discus Holdings, Inc. announced that it has entered into a definitive merger agreement with Royal Philips Electronics (AEX:PHI ) (NYSE:PHG ). Previously privately held, Discus is the global leader in professional tooth whitening products with brands such as Zoom®!, BriteSmile®, and NiteWhite®. In recent years the Company expanded into other areas including oral care, restoratives, endodontics, and soft-tissue lasers. The transaction is expected to close in the fourth quarter of 2010, pending regulatory approvals.
"We created Discus almost 20 years ago with the goal of making it easy to improve patient smiles," said Dr. William Dorfman, founder of Discus Dental. "Since then, millions of people around the world have had smile makeovers using our products and we've become a trusted source of clinical solutions for dentists in more than 100 countries and on virtually every continent. By joining the Philips organization, our products will benefit from unprecedented growth opportunities, making tooth whitening even more accessible to a broader audience."
Philips is a diversified health and well-being company, headquartered in the Netherlands and employing more than 116,000 people in more than 60 countries worldwide. With sales of EUR 23 billion in 2009, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure, with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. In the oral care space, Philips Sonicare® is the number one recommended sonic toothbrush brand by dental professionals worldwide.
"Oral healthcare is an important part of our strategy to enhance consumer health and well-being, and an important growth driver of our portfolio. Discus' professional tooth whitening business provides a strong foundation for growth in the cosmetic dentistry space and will strengthen Philips' position as a leading oral healthcare brand amongst dental professionals and consumers," said Philips Consumer Lifestyle CEO Pieter Nota. "Moreover, Discus' oral care products complement our existing Sonicare portfolio, further building our relationship with dental professionals."
Following the close of the transaction, Discus will become part of the Philips Consumer Lifestyle sector's Health and Wellness business. Financial details of the agreement were not disclosed. Discus was advised in the transaction by Jefferies and Co. and was represented by Cooley LLP.
About Discus Dental LLC: Discus Dental offers a broad array of progressive, quality dental products and equipment that spans aesthetics, whitening, oral hygiene, endodontics, impression materials, composites, lasers and general operatory devices. By selling direct, Discus empowers dental professionals worldwide with premium products and affordable practice solutions. The company is widely recognized as the leading marketing and branding company in dentistry. Discus products are available in over 100 countries. Discus is headquartered in Culver City, California. More information is available at www.discusdental.com.
Source: Discus Dental
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