The spinout, announced in July 2018, will unite the Nobel Biocare, KaVo Kerr and Ormco dental brands under the Envista umbrella. The newly public company, which employs some 12,000 workers, is headquartered in Brea, Calif.
Envista plans to float 26.8 million shares at $21 to $24 apiece, for a range of $562.1 million to $642.4 million, or $602.3 million at the midpoint. Its stock is slated to trade on the New York Stock Exchange under the NVST symbol.
As part of the spin-out, Danaher dental group head Amir Aghdaie is slated to become president & CEO of Envista, joined by EVP Dan Daniel and SVP Daniel Raskas.
“Envista’s name is a combination of two Latin root words: ‘en’, a prefix meaning to be within, and ‘vista’, meaning a view. Our logo of concentric circles represents our ability to collaboratively achieve endless possibilities ahead. The Envista brand reflects the forward-looking energy that embodies our company culture,” Aghdaei said in June 2019 when the new brand was unveiled. “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.’ 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.”