The Straumann Group announced on 13 Aug the signing of a definitive agreement to sell its DrSmile business to Impress Group.
The transaction is expected to close in due course and will see Straumann Group receive a minority shareholding of 20%, on a fully diluted basis, in the company.
In Dec 2020, the Straumann Group has acquired DrSmile, a start-up company that was formed 2017 in Berlin and which developed into one of the leading providers of aligner treatment in Europe.
Founded in 2019 and headquartered in Barcelona, Spain, Impress Group is a leading provider of clear aligners in Europe and operates a network of clinics in countries such as Spain, the UK, Italy and Portugal. With the acquisition of DrSmile, Impress Group is said to be aiming to build a leadership position in the direct-to-consumer clear aligner space in Europe, by combining quality clinical treatment with consumer marketing expertise at scale.
The news of the sale was made under an ad hoc announcement by Straumann Group where the company also shared its second quarter performances highlighting strong growth in key markets and sectors.
“We are very pleased with the half-year results. Our double-digit revenue growth reflects the team’s continued strong execution which led to winning new customers and gaining market share … On the consumer side, selling DrSmile to Impress Group will give this company the necessary scale and patient journey expertise to further strengthen patient care to succeed in the European direct-to-consumer clear aligner market. Due to this new situation, we restated the figures and updated our outlook for 2024,” said Guillaume Daniellot, CEO of Straumann Group.
Among the updates, it also highlighted the Asia Pacific region’s strong and continued growth. It read that the Asia Pacific region achieved revenue of CHF154.6m in the second quarter, a strong 33.8% organic revenue growth against a gradually higher comparison base, as the prior-year quarter was still driven by pent-up demand and the VBP roll-out in China.
Moreover, implantology remained the main revenue contributor with premium implants and Anthogyr growing in China. The challenger brands Anthogyr and Neodent also grew significantly outside China, namely in Australia, India, Thailand and Vietnam. Demand for digital solutions like SmileCloud and the AlliedStar intraoral scanners remained encouraging. The orthodontics business had a positive impact on the regional performance.
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