On 9/4/19 Enivsta Holdings updated the filing for its upcoming $738 million IPO. The dental supplies and equipment company spun out of Danaher will be comprised of three operating units: Nobel Biocare Systems, KaVo Kerr and Ormco. The company will trade on the New York Stock Exchange (“NYSE”) under the symbol “NVST.”
The company's prospectus states that Envista is one of the largest global dental supply companies. In 2018 the company generated total sales of $2,845 million, of which approximately 70% were derived from sales of consumables, services and spare parts.
The company serves more than 1 million dentists in over 150 countries. The company also provides clinical training to enhance patient access to high-quality dental care, reaching over 100,000 dental professionals annually through more than 4,000 training and education events we directly organize.
Envista intends to pay to Danaher all of the net proceeds they will receive from this offering. This will be in partial consideration for the Dental business Danaher is contributing to Envista in connection with the separation.