WALTHAM, Mass., Sept. 27 /PRNewswire/ -- The Swedish medical technology company Astra Tech AB, a subsidiary of AstraZeneca, is purchasing the US dental company Atlantis Components Inc. for USD 71 million in cash. This business deal is part of Astra Tech's growth strategy.
"The purchase of Atlantis gives us an even stronger product portfolio in the field of dental implants. We strengthen our position in the North American market and can introduce the latest digital CAD/CAM(1) technology in Europe. This also gives us a leading position in the fastest growing segment in the field of implants," says Astra Tech's President and CEO, Peter Selley.
In the past few years, Astra Tech has grown at a rate of over 40 percent a year while the global market for dental implants has shown a growth rate of 20 percent. "Our objective is to be one of the three largest dental implant companies within the next three years," Peter Selley continues.
For the past ten years, Atlantis Components Inc. has developed a patented method for digitally producing "abutments." Using the latest CAD/CAM1 technology, individually adapted abutments are produced for each patient. As opposed to standard abutments,
Atlantis' technology is built around a unique method that is based on the appearance of the final tooth. The end result is optimized individual esthetics and long-term reliability. For the clinician and patient this technology means reduced chair time since the precision of the abutments eliminates the need for the dentist to make further adjustments. Atlantis' method makes it possible to fabricate individual abutments for most of the major implant systems on the market. The technology also allows for increased efficiency and profitability for the dental laboratory.
Atlantis Components Inc. is based in Cambridge, Massachusetts and has 100 employees. The company has had very positive growth in recent years and now has a market-leading position in its segment. Sales in 2008 are expected to reach USD 25 million.
"Astra Tech with its focus on research and its global sales organization is the perfect owner for Atlantis as it offers the ideal environment within which to further develop Atlantis' unique technology as well as grow the business," says Bob Stockard, CEO, Atlantis.
Operations will be integrated within Astra Tech's North American headquarter in Waltham, Massachusetts. The North American market represents approximately one third of the world market, and is Astra Tech's most important one. It is currently one of the fastest growing markets for the Astra Tech Group.
"The two companies complement each other perfectly. Through the acquisition of Atlantis, we can offer all dentists working with implants an optimal solution, in terms of both esthetics and function," says Scott Root, President and CEO, Astra Tech Inc., North America.
"We will develop a Center of Excellence in the US for esthetics, based on Atlantis' unique know-how and technology in order to offer advanced innovative digital dentistry solutions," says Peter Selley.
In 2008, Astra Tech will begin producing Atlantis' CAD/CAM abutments for the European market at its headquarters in Molndal, Sweden. The launch and sales in Europe will be handled by Astra Tech's existing sales organization.
As recently as June of this year, Astra Tech opened a new training center at its headquarters in Molndal, where dental professionals from all over the world are invited there to study the latest implant technology.
Astra Tech, a subsidiary of the AstraZeneca Group, develops, manufactures, and markets dental implants and advanced disposable medical equipment for the healthcare sector. The company develops products that lead to improved treatment results, simplified work for healthcare personnel, and which contribute to reducing healthcare costs.
Astra Tech's headquarters and production facilities are located in Molndal, Sweden. The company is represented globally by 16 subsidiaries and selected local partners. Astra Tech has a total of 1,900 employees worldwide. The company puts 5 percent of its revenues annually into research. Astra Tech's revenues in 2006 totaled SEK 2.7 billion.
Astra Tech's North American subsidiary is headquartered out of Waltham, Massachusetts, and urology operations are centered in Torrance, California. Since 2004, the North American subsidiary has grown from 60 to over 200 employees.
Images for free publication can be downloaded from http://www.astratech.com
(1) CAD=Computer-Aided Design CAM=Computer-Aided Manufacturing
|SOURCE Astra Tech|
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