BURLINGTON, Mass., Sept. 01, 2021 (GLOBE NEWSWIRE) -- Keystone Dental Inc. (“Keystone”), the largest independent dental implant company operating in North America, today announced a $25 million financing. The financing round was led by Nantahala, with participation from Accelmed and Accelmed’s anchor investor, Migdal Insurance.
Proceeds from the financing were used to support Keystone’s acquisition of Osteon Medical, a commercial stage leader in breakthrough dental implant solutions. In addition, remaining funds will be used for continued growth, including market expansion activities and other strategic investments. Key areas of focus are a highly innovative dental implant product portfolio in combination with market leading digital capability.
“It is a great honor to have such strong support from well-known investors on our journey of providing the global dental implant market with a comprehensive, world-class portfolio,” said Melker Nilsson, CEO of Keystone. “These funds provide us with the additional capital we need for the acquisition of Osteon Medical. In addition, this financing delivers us working capital for the further acceleration of our anticipated growth, including exploration of organic as well as other in-organic initiatives within the dental implant market. We are very excited about the opportunities ahead.”
Dr. Uri Geiger, Managing Partner at Accelmed and Chairman of Keystone, commented, “In just three years, Keystone’s leadership team, supported by Accelmed, executed a complete turnaround of the business, transforming it into a rapidly-growing company rife with innovation and a market leader in the premium-value dental segment in the US. The acquisitions of Paltop Advanced Dental Solutions LTD in 2019 and Osteon Medical, announced earlier today, further establish Keystone’s leadership position in this $5 billion market opportunity. We are confident that these growth initiatives, combined with robust digital capabilities, and a premium-value product portfolio, ensure that Keystone is well-poised for continued growth.”
About Accelmed Partners
Accelmed is a U.S.-based private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market HealthTech companies. Since 2009, Accelmed has deployed over $400 million into companies spanning medical devices, diagnostics, digital health and technology-enabled healthcare services, Accelmed seeks to accelerate value and scale innovation across the HealthTech field by bringing to bear the team’s industry experience, operational and financial expertise, and strong global relationships. For more information, please visit https://www.accelmed.com
About Keystone Dental Inc.
Keystone Dental is an oral healthcare company dedicated to the delivery of breakthrough dental implant, biomaterial technologies and providing a highly innovative digital workflow. Headquartered in Burlington, Massachusetts with manufacturing and distribution facilities in Irvine, California, Keystone markets its products worldwide and is the largest independent dental implant company in North America. The company’s product portfolio includes proprietary offerings such as Genesis – The Biomimetic Implant System™, the TILOBEMAXX™, PrimaConnex® and Prima Plus™ Implant Systems, the DynaMatrix® Extracellular Membrane, and the DynaBlast® and DynaGraft® bone graft substitutes. For more information, refer to www.keystonedental.com
Amanda Klein/Alex Jeffrey
Gasthalter & Co.
BURLINGTON, Mass., Sept. 01, 2021 (GLOBE NEWSWIRE) -- Keystone Dental Inc. (“Keystone”), the largest independent dental implant company operating in North America, announced today that it has completed the acquisition of Osteon Medical, a Melbourne, Australia-based technology company providing digital solutions for clinicians and dental laboratories leveraging proprietary software and unique hardware developments, significantly improving digital workflows.
The transaction significantly increases Keystone's global visibility in the dental market with innovative solutions and a high value proposition. In addition, it immediately provides Keystone with the opportunity to market a full-arch implant portfolio through dedicated production facilities in both Melbourne and Osaka, Japan. Osteon’s newly patented Nexus iOS mapping technology and scanning system provides the first of its kind digital solutions to dentists and dental laboratories across the world. In addition, Osteon’s continued innovation has resulted in rapid growth while seeking international expansion as new distribution channels are established throughout Europe and Asia.
“In our ongoing search for exceptional business partners, we are very pleased to be combining forces with Osteon Medical,” said Melker Nilsson, CEO of Keystone. “The combination of Keystone and Osteon enables us to offer a more comprehensive portfolio of unique and innovative solutions for our customers and partners, in particular when it comes to digital workflows, increased efficiency and improved accuracy. The acquisition further provides Keystone with a significantly expanded and synergistic implant sales opportunity to both existing and new customers.
“We welcome Michael Tuckman, CEO of Osteon Medical, and his colleagues to Keystone and highly value the business they have built,” concluded Nilsson.
“Keystone is the perfect partner for Osteon Medical as their leading dental implant offerings are combined with our full-arch dental prosthesis portfolio”, said Michael Tuckman, CEO of Osteon Medical. “Our mission at Osteon Medical fully aligns with that of Keystone – to simplify complex procedures through innovation and technological improvements and to deliver tomorrow's solutions today.”
The combined companies will continue to operate independently as separate businesses while supporting Keystone Dental’s expanding digital product offerings for its premium and value market segments. The terms of the acquisition were not disclosed.
About Osteon Medical
Osteon Medical, a commercial stage leader in digital dental implant solutions, develops innovative and advanced customized implant retained prosthetics and advanced engineering solutions based on propriety CAD/CAM scanning and design technology. The result delivers a much more efficient, shorter and accurate complex implementation procedure. Osteon’s solution includes a scanning component, AI based-CAD/CAM design software, 3D printing of the tooth and augmented reality supported implantation procedure. Osteon is headquartered in Melbourne, Australia and supported by dedicated production facilities in both Melbourne and Osaka, Japan. The company’s products are available in Japan, Europe, and pending FDA clearance, are expected to launch in the U.S. in early 2022.
About Keystone Dental Inc.
Keystone Dental is an oral healthcare company dedicated to the delivery of breakthrough dental implant and biomaterial technologies. Headquartered in Burlington, Massachusetts with manufacturing and distribution facilities in Irvine, California, Keystone markets its products worldwide and is the largest independent dental implant company in North America. The company’s product portfolio includes proprietary offerings such as Genesis – The Biomimetic Implant System™, the TILOBEMAXX™, PrimaConnex® and Prima Plus™ Implant Systems, the DynaMatrix® Extracellular Membrane, and the DynaBlast® and DynaGraft® bone graft substitutes. For more information, refer to www.keystonedental.com.