Envista this week announced that it has entered into a binding agreement to sell its KaVo treatment unit and instrument business to Planmeca for up to $455 million.
Through the deal, Planmeca will pay up to $455 million with a potential earn-out payment of up to $30 million. The sale is expected to close at the end of this year.
The KaVo business to be sold is a manufacturer and supplier of dental treatment units and instruments, part of Envista’s equipment and consumables segment. Envista’s imaging business will remain a part of the company as part of the equipment and consumables segment.
“Envista is focused on its strategic priorities to build and optimize a more consumables and digitally-enabled, workflow-oriented portfolio. This sale will better position Envista to invest organically and inorganically and expand our product offerings within these areas,” CEO Amir Aghdaei said in a news release.
KaVo treatment unit and instrument business is expected to be reported as a discontinued operation beginning with Envista’s third-quarter 2021 filing.