CULVER CITY, California--Discus Holdings has announced entering into a definitive merger agreement with Royal Philips Electronics.
Previously privately held, Discus is a leader in professional tooth whitening products with brands such as Zoom, BriteSmile, and NiteWhite. In recent years, the company has expanded into other areas including oral care, restoratives, endodontics, and soft-tissue lasers.
The transaction is expected to close in the fourth quarter of 2010, pending regulatory approvals.
“We created Discus almost 20 years ago with the goal of making it easy to improve patient smiles,” said Dr. William Dorfman, founder of Discus Dental.
“Since then, millions of people around the world have had smile makeovers using our products and we’ve become a trusted source of clinical solutions for dentists in more than 100 countries and on virtually every continent. By joining the Philips organization, our products will benefit from unprecedented growth opportunities, making tooth whitening even more accessible to a broader audience.”
Philips is a diversified health and well-being company, headquartered in the Netherlands, and employing more than 116,000 people in more than 60 countries worldwide. Philips Sonicare is the No. 1 recommended sonic toothbrush brand by dental professionals worldwide.
“Oral health care is an important part of our strategy to enhance consumer health and well-being, and an important growth driver of our portfolio,” said Philips Consumer Lifestyle CEO Pieter Nota.
"Discus’ professional tooth whitening business provides a strong foundation for growth in the cosmetic dentistry space and will strengthen Philips’ position as a leading oral health-care brand amongst dental professionals and consumers. Moreover, Discus’ oral care products complement our existing Sonicare portfolio, further building our relationship with dental professionals.”
Following the close of the transaction, Discus will become part of the Philips Consumer Lifestyle sector’s health and wellness business.
Financial details of the agreement were not disclosed. Discus was advised in the transaction by Jefferies and Co. and was represented by Cooley LLP.
More information is available at www.discusdental.com.
To read more about Discus Dental, go to Discus Dental.
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