3M to Acquire Dental Implant Manufacturer IMTEC Corp.
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3M Corporate Headquarters, 3M Center
St. Paul, MN, 55144
Press release date: May 15, 2008
May 15, 2008
ST. PAUL, Minn.--3M announced today that it has signed a definitive agreement to acquire IMTEC Corp., a manufacturer of dental implants and cone beam computed tomography (CBCT) scanning equipment for dental and medical radiology headquartered in Ardmore, Okla. Terms of the transaction were not disclosed.
This acquisition gives 3M ESPE access to two of the fastest growing segments in the dental industry. "Our combined digital products and expertise will enable a digital 'total restorative' approach with more options than ever, including IMTEC implants, 3MTM ESPETM LavaTM crowns, and 3M's advanced digital workflow solutions," said Jeffrey Lavers, vice president and general manager, 3M ESPE. "Together, we will have an end-to-end implantology solution, making the process easier, faster and better for dentists everywhere."
Dental implants are rapidly emerging as a standard of care for dentistry. A titanium screw replaces the roots of an extracted tooth and is integrated into the bone structure of the jaw over the course of a few months to become a highly-stable platform for a crown, bridge, or full-arch denture. Implants offer several advantages over traditional crown and bridge work such as no preparation of adjacent teeth, better esthetics, and no resorption of bone in the jaw.
IMTEC is best known for its mini dental implants, which are small-diameter, single-unit dental implants that don't require invasive surgery so bone trauma is minimal and patient discomfort is limited. Mini dental implants are primarily used for denture fixation, but are also appropriate for orthodontic anchorage.
"We are looking forward to the reputation, resources and worldwide reach that 3M brings to help us build this business," said Ron Bulard, DDS and Chairman of the Board, IMTEC Corp. "Its overall strength in oral care with both the 3M ESPE and 3M Unitek divisions makes them a particularly good partner for us."
One of the world's largest suppliers to the dental industry, 3M manufactures and markets a wide range of products and services used by dental professionals worldwide to improve oral health. These products are designed to meet restorative, crown and bridge, orthodontic, preventive, infection control, and cosmetic dentistry needs. 3M's current digital dentistry offering includes the Lava crown and bridge system - an innovative restorative design and milling system that has become a benchmark of quality among dentists and dental labs.
IMTEC employs approximately 230 people located at its operations in Ardmore; Los Alamos, N.M.; and Boulder, Colo. The transaction is expected to close in the third quarter, subject to customary closing conditions.
About IMTEC Corp. IMTEC Corp.'s primary focus is on dental applications and the development of new technology to simplify dentistry. IMTEC created a revolution in implantology with the introduction of the MDI Implant line and has grown into the global leader in small diameter implants.
IMTEC's ILUMA system is a leader in Cone Beam Computed Tomography for dentistry and medicine. With this technology and IMTEC's groundbreaking applications, its customers can access the power of three-dimensional radiography in the convenience of their own offices. IMTEC also produces a wide array of industrial CT scanning equipment powered by its proprietary and award winning FlashCT(TM) software and its internationally recognized engineering team. For more information, visit www.imtec.com.
About 3M A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M's core strength is applying its more than 40 distinct technology platforms - often in combination - to a wide array of customer needs. With $24 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 60 countries. For more information, visit www.3M.com.
Contacts 3M Donna Fleming Runyon, 651-736-7646 or Investor Contacts: Matt Ginter, 651-733-8206 or Bruce Jermeland, 651-733-1807