Envista Holdings, the dental equipment and services provider being spun out of Danaher, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Envista is one of the largest global dental products companies with market positions in multiple segments of the dental products industry, including implants, orthodontics and digital imaging technologies. In 2018, the company spent $172 million on research and development, accelerating product development initiatives including the DTX software suite, the N1 implant system, and Spark Aligners. Its operating companies Nobel Biocare Systems, Ormco, and KaVo Kerr serve more than 1 million dentists in over 150 countries.
The Brea, CA-based company was incorporated in 2018 and booked $2.8 billion in sales for the 12 months ended March 29, 2019. It plans to list on the NYSE under the symbol NVST. Envista Holdings filed confidentially on May 20, 2019. J.P. Morgan is the sole bookrunner on the deal. No pricing terms were disclosed.
