Modern Dental Group Enters into Definitive
Agreement to Acquire MicroDental Laboratories
TROY, MICHIGAN (October 3, 2016) – Modern Dental Group Limited (SEHK: 3600), a global dental prosthetic device provider, proudly announces that it has entered into a definitive agreement to acquire MicroDental Laboratories, a leading network of dental labs across North America. The transaction is anticipated to close in October 2016, subject to shareholder approval.
Modern Dental Group, a publicly-held company trading on the Hong Kong Stock Exchange, and maintains the largest share of the dental prosthetic markets in Western Europe, Australia, China and Hong Kong. As a result of this transaction, Modern’s existing North American operations will be enhanced by 21 new dental lab locations in the United States and Canada.
Godfrey Ngai, Executive Director and CEO of Modern Dental Group, said: “Quality is at the forefront of everything we do at Modern Dental. The acquisition of MicroDental Laboratories accelerates and aligns perfectly with our strategy for global growth and growth in North America. We are very excited about our future and this is a great day for Modern Dental Group and for MicroDental. We will continue to build on the strength of the MicroDental brand and leverage our breadth of technical support, education and product offering backed by the best customer care in the business.”
“We are pleased that Modern Dental is acquiring our business because they have a unique appreciation of the people, onshore production, technological capabilities and brand at MicroDental. It is a great marriage that will be positive for the employees, customers and patients by making them a part of the strongest dental laboratory company globally,” said Laing F. Rikkers, Board Member of MicroDental and Managing Director of HealthpointCapital, which owns a majority interest in MicroDental.
About Modern Dental Group
Modern Dental Group Limited is a leading global dental prosthetic device provider with a focus on providing custom-made prostheses to customers in the growing prosthetics industry. Our product portfolio is broadly categorized into three product lines: fixed prosthetic devices, such as crowns and bridges; removable prosthetic devices, such as removable dentures; and other devices, such as orthodontic devices, sports guards and anti-snoring devices. Our success in this industry is rooted in our global proprietary sales and distribution network, which we established through a series of strategic acquisitions of our former distributors.
Our sales and distribution network provides us with direct access to customers, including dentists, dental clinics, hospitals, distributors and other customers, in key prosthetics markets around the globe, allowing us to promote our products in a targeted manner and better satisfy the needs and preferences of our diverse global customer base.
Modern Dental has a global portfolio of respected brands, including; Labocast in France, Permadental in Germany, Elysee in Western Europe, YZJ in China, Modern Dental in Hong Kong, Modern Dental USA in the United States, and Southern Cross Dental in Australia. We have grown these brands by providing premium and consistent quality products and superior customer service.