Straumann's Sale of DrSmile: What You Need to Know
Key Details
* Straumann has sold its DrSmile aligner business to Impress Group. * Straumann will retain a 20% minority stake in DrSmile. * The sale was completed on August 13, 2024.
Financial Implications
* Straumann raised its full-year outlook following the sale. * Half-year revenue reached CHF 13 billion, with organic growth of 16.1%. * Operating profit increased by 22.6% to CHF 6549 million.
Reasons for the Sale
* Straumann's primary focus is on dental implants. * The sale allows Straumann to concentrate on its core business. * Impress Group, a provider of orthodontic treatment, is a better fit for DrSmile's aligner business.
Impact on Shareholders
* Straumann shareholders will benefit from the sale as it strengthens the company's financial position. * The sale is expected to have a positive impact on Straumann's margins and return on equity.
Additional Information
* The transaction is subject to regulatory approval in certain jurisdictions. * The sale will be completed in two stages, with the first stage expected to close before the end of 2024.
FAQ
Q: Why did Straumann sell its DrSmile aligner business? A: Straumann sold DrSmile to focus on its core business of dental implants.
Q: Who acquired the DrSmile aligner business? A: The DrSmile aligner business was acquired by Impress Group, a provider of orthodontic treatment.
Q: What are the financial implications of the sale? A: The sale has allowed Straumann to raise its full-year outlook and has had a positive impact on its margins and return on equity.
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