KEYSTONE DENTAL GROUP
Q3 revenue increased 18.9% year-over-year to $16.8M, including $11.9M from the U.S.
Check-Cap shareholders to vote on proposed Business Combination Agreement with Keystone Dental at Annual General Meeting on Monday, December 18th, 2023
IRVINE, Calif., Nov. 28, 2023 (GLOBE NEWSWIRE) -- Keystone Dental Holdings (“Keystone Dental” or the “Company”), a pioneer in dental implant technology, announced today financial results and provided a corporate update for the third quarter and nine months ended September 30, 2023.
“We are pleased by the increased revenue growth over the first few quarters of 2023. This growth coincides with the exciting expansion of our portfolio of products and services over the past year. This momentum is expected to continue to build with the recent launch of several groundbreaking new products, including the GENESIS ACTIVE™ Implant System and Nexus Connect,” commented Melker Nilsson, CEO of Keystone Dental.
Recent Financial Results and Business Highlights
Sustained Revenue Growth – Total third quarter 2023 revenue increased 18.9% to $16.8 million compared to the same period in 2022, which was driven by increased sales of dental implants and Osteon product groups. Total revenue for the nine months ended September 30, 2023 increased 12.7% to $50.2 million compared to the same period in 2022. Revenue generated in the U.S. totaled $11.9 million in the third quarter of 2023 and $35.9 million for the nine months ended September 30, 2023.
GENESIS ACTIVE™ Implant System Commercial Launch – Keystone Dental announced the commercial launch of GENESIS ACTIVE™ Implant System, a state-of-the-art surgical and prosthetic solution that is expected to transform how dental professionals approach implant placement and restoration. The system contains an innovative restorative portfolio of dental implant technologies in one system that enables dental professionals to deliver implant treatments with greater efficiency.
Nexus Connect Market Launch – Keystone Dental announced market launch of Nexus Connect, a unique software solution that utilizes proprietary technology and a machine-learning model to analyze implant scans performed with an intraoral scanner. The Nexus Connect employs proprietary 3D computer vision algorithms and geometric processing to detect Nexus Scan Gauges, segment them from tissue, and calculate their positions to ensure the captured data can proceed to prosthetic design. The analysis mechanism is a mathematical regression model based on thousands of completed real-world cases enabling immediate scan data results at the source of capture.
Patent for Nexus IOS Solution – Keystone Dental announced that the United States Patent and Trademark Office (USPTO) has granted Osteon Medical, a subsidiary of Keystone Dental, a patent for the innovative Nexus IOS solution. The Nexus iOS Scan Gauge technology allows implant dentists to perform direct full-arch implant scans using an Intraoral Scanner with predictable and passive fitting prosthetic outcomes. This technology replaces the traditionally manual impression-taking process through a faster, cost-effective, and accessible workflow. Appointed Industry Veteran to Lead Osteon Medical Subsidiary – Appointed Greg Minzenmayer as Vice President & Global General Manager for Osteon Medical, a leading digital dentistry technology company acquired by Keystone Dental in 2021.
Propose Business Combination Agreement with Check-Cap
In August 2023, Keystone Dental and Check-Cap announced entering into a definitive Business Combination Agreement (the "Business Combination Agreement") under which the stockholders of Keystone Dental will become the majority holders of the combined company. If completed, the business combination will create a public company headquartered in Irvine, CA and focused on advancing commercial execution and market development of Keystone Dental’s comprehensive portfolio of implants, full arch restorations, and other tooth replacement solutions, in addition to biomaterial and digital dentistry capabilities. Upon closing of the transaction, the combined company will trade on the NASDAQ under the symbol “KSD.” The executive team of Keystone Dental will serve as the executive team of the combined company, led by Melker Nilsson, Keystone’s Chief Executive Officer.
Check-Cap has scheduled an Annual General Meeting of Shareholders (the “Meeting”) to be held on Monday, December 18, 2023 at 2:00 p.m. (Israel time) at the offices of Check-Cap’s Israeli legal counsel, FISCHER (FBC & Co.), located at 146 Menachem Begin Rd., Tel Aviv 6492103, Israel. At the Meeting, investors will be asked to consider and vote on several proposals, including a proposal to approve the Business Combination Agreement. Only shareholders of record at the close of business on November 10, 2023, are entitled to notice of and to vote at the Meeting or at any adjournment thereof.
About Keystone Dental Group:
Keystone Dental is a global commercial-stage medical technology company focused on providing end-to-end tooth replacement solutions for dental practitioners. Headquartered in Irvine, California, and with research and development and manufacturing sites in Caesarea, Israel and Melbourne, Australia, Keystone Dental markets its products worldwide. The Company's product portfolio includes proprietary offerings such as its innovative implant systems Genesis Active, Molaris™ and Prima Plus™ that offer unique solutions to dental practitioners. In addition, the Company also offers an attractive dental implant value brand in Paltop, and a well-regarded portfolio of biomaterials mainly sold under the DYNA brand. Keystone Dental acquired Implant Solutions Pty Ltd ("Osteon") in 2021, adding a comprehensive portfolio of prosthetic solutions on implants and digital workflow capabilities, not least of which is the groundbreaking Nexus iOS digital workflow solution for restoring the fully edentulous patient. For more information, refer to www.keystonedental.com.
About Check-Cap
Check-Cap (NASDAQ: CHEK) is a clinical stage medical diagnostics company aiming to redefine colorectal cancer (CRC) screening through the introduction of C-Scan®, a screening test designed to detect polyps before they may transform into colorectal cancer and enable early intervention and cancer prevention. C-Scan is an investigational device and is not available for sale in the United States.
Important Additional Information and Where to Find It
In connection with the business combination, a newly formed wholly owned subsidiary of Keystone Dental (“Keystone Parent”) has filed with the SEC a registration statement on Form S-4 and that will constitute a prospectus with respect to shares of common stock of Keystone Parent to be issued in the business combination and Check-Cap has delivered a proxy statement to its shareholders in connection with the annual general meeting of its shareholders. Check-Cap and Keystone Parent may also file other documents with the SEC regarding the business combination. This press release is not a substitute for the prospectus or any other document which Keystone Parent or Check-Cap may file with the SEC. INVESTORS, KEYSTONE SECURITY HOLDERS AND CHECK-CAP SECURITY HOLDERS ARE URGED TO READ THE PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT ARE OR WILL BE FILED BY KEYSTONE PARENT OR CHECK-CAP WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION AND RELATED MATTERS. Investors, Keystone security holders and Check-Cap security holders will also be able to obtain free copies of the prospectus and other documents containing important information about Check-Cap, Keystone and the business combination that are or will be filed with the SEC by Check-Cap or Keystone through the website maintained by the SEC at www.sec.gov.
Participants in the Solicitation
Check-Cap, Keystone Parent and their respective directors and executive officers may be deemed under SEC rules to be participants in the solicitation of proxies from the shareholders of Check-Cap in connection with the business combination. Information about Check-Cap's directors and executive officers is set forth in Check-Cap's Annual Report on Form 20-F for the year ended December 31, 2022 which was filed with the SEC on March 31, 2023. Information about Keystone Dental's directors and executive officers is set forth in the prospectus. Other information regarding the interests of such individuals, as well as information regarding other persons who may be deemed participants in the business combination, is set forth in the prospectus, the proxy statement and other relevant materials filed or submitted with the SEC. Investors, Keystone security holders and Check-Cap security holders and other readers should read the prospectus and the proxy statement carefully before making any voting or investment decisions.
No Offer or Solicitation
This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
Legal Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements”. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies of Check-Cap and/or Keystone Dental regarding the future including, without limitation, statements regarding Keystone’s technology and the benefits of tooth replacement solutions, expectations regarding the ownership structure of the combined company, and the structure, timing and completion of the proposed business combination. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “aim,” “target,” “commit,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward looking. Forward-looking statements are based on current expectations and assumptions that, while considered reasonable are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management’s control including general economic conditions; the outcome of any legal proceedings that may be instituted against Keystone Dental or Check-Cap following the announcement of the business combination; the inability to complete the business combination, including due to the inability to concurrently close the business combination or due to failure to obtain approval of the shareholders of Check-Cap; delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals, or delays in completing regulatory reviews, required to complete the business combination; the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the business combination; the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth, maintain relationships with customers and suppliers and retain key employees; costs related to the business combination; the possibility that the combined company may be adversely affected by other economic, business, and/or competitive factors; other risks and uncertainties indicated from time to time in the registration statement on Form S-4 filed by Keystone Parent with the SEC and other risks, uncertainties and factors set forth under “Risk Factors” therein as well as in the section entitled “Risk Factors,” in Check-Cap’s Report on Form 6-K furnished to the SEC on August 4, 2023, and its other filings with the SEC, as well as factors associated with companies, such as Keystone and Check-Cap, that operate in the life science industry. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Neither Check-Cap nor Keystone undertakes or accepts any duty to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or in the events, conditions or circumstances on which any such statement is based. This press release does not purport to summarize all of the conditions, risks and other attributes of an investment in Keystone, Check-Cap or the combined company.
Jeremy Feffer
LifeSci Advisors
212-915-2568
jfeffer@lifesciadvisors.com
IRVINE, Calif., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Keystone Dental Holdings (“Keystone Dental” or the “Company”), a pioneer in dental implant technology, announced today the commercial launch of GENESIS ACTIVE™ Implant System, a state-of-the-art surgical solution that is expected to transform how dental professionals approach implant placement and restoration.
“The GENESIS ACTIVE Implant System is a game-changing innovation that marks a new area in dental implantology. With a solid commitment to meaningful innovation, patient care, and scientifically proven concepts, we aim to redefine the standard of implant procedures,” said Melker Nilsson, CEO of Keystone Dental. “The GENESIS ACTIVE Dental Implant System brings together a robust portfolio of dental implant technologies into a single solution that is intended to empower dental professionals to deliver clinically proven implant treatment with greater efficiency.”
The GENESIS ACTIVE Implant System is a comprehensive, innovative restorative portfolio of solutions that is backed by over a decade of research and development. The system offers one connection, three emergence profiles, and multiple restorative platforms facilitating aesthetic restorations that follow the natural tooth contour while simplifying the restorative protocol. The GENESIS ACTIVE Implant System brings together:
AnaTite™ - a cutting-edge, gradual pink anodization process on the coronal aspect designed to emulate the hue of natural soft tissue. BioSpark™ - a proven surface treatment covering the remainder of the implant body, mimicking natural bone, promoting bone growth and fast osseointegration, making the GENESIS ACTIVE Implant System beneficial for immediate load protocols.
Digital Guidance Sleeve (DGS) – allows a GENESIS ACTIVE implant to be placed guided by engaging the handpiece, eliminates the need for drill guide keys, and allows for an increased entry angle in limited posterior interarch spaces.
GENESIS ACTIVE conical implant connection - creates a secure implant-to-abutment interface, offering a bacterial barrier and high mechanical stability.
Multi-Unit Abutments solutions – a line of pink premium abutments with concave profiles designed to reduce the need for bone profiling. The complete line of digital Multi-Unit abutment prosthetics, offer an ANGLEBase® Abutment which features a 0° to 25° of angle correction in a 360° radius. ELLIPTIBase® Abutment – a solution for areas of limited interdental space. Allowing up to 20° angle correction for screw-retained solutions. The SelectGrip® - a new and innovative abutment surface, improves restorative adhesion to the final prosthetic, thus completing the diverse range of restorative innovations.
About Keystone Dental Group:
Keystone Dental is a global commercial-stage medical technology company focused on providing end-to-end tooth replacement solutions for dental practitioners. Headquartered in Irvine, California, and with research and development and manufacturing sites in Caesarea, Israel and Melbourne, Australia, Keystone Dental markets its products worldwide. The Company's product portfolio includes proprietary offerings such as its innovative implant systems Genesis Active, Molaris™ and Prima Plus™ that offer unique solutions to dental practitioners. In addition, the Company also offers an attractive dental implant value brand in Paltop, and a well-regarded portfolio of biomaterials mainly sold under the DYNA brand. Keystone Dental acquired Implant Solutions Pty Ltd ("Osteon") in 2021, adding a comprehensive portfolio of prosthetic solutions on implants and digital workflow capabilities, not least of which is the groundbreaking Nexus iOS digital workflow solution for restoring the fully edentulous patient. For more information, refer to www.keystonedental.com.
Proposed Business Combination Agreement
In August 2023, Keystone Dental and Check-Cap Ltd. ("Check-Cap") (NASDAQ: CHEK) announced entering into a definitive Business Combination Agreement (the "Business Combination Agreement") under which the stockholders of Keystone Dental will become the majority holders of the combined company. If completed, the business combination will create a public company headquartered in Irvine, CA and focused on advancing commercial execution and market development of Keystone Dental’s comprehensive portfolio of implants, arches and other tooth replacement solutions comprised of restoration products, prosthetic solutions, biomaterial, and digital dentistry capabilities. Upon closing of the transaction, the combined company will trade on the NASDAQ under the symbol “KSD.” The executive team of Keystone Dental will serve as the executive team of the combined company, led by Melker Nilsson, Keystone’s Chief Executive Officer.
About Check-Cap
Check-Cap (NASDAQ: CHEK) is a clinical stage medical diagnostics company aiming to redefine colorectal cancer (CRC) screening through the introduction of C-Scan®, a screening test designed to detect polyps before they may transform into colorectal cancer and enable early intervention and cancer prevention. C-Scan is an investigational device and is not available for sale in the United States.
Important Additional Information and Where to Find It
In connection with the business combination, a newly formed wholly owned subsidiary of Keystone Dental (“Keystone Parent”) has filed with the SEC a registration statement on Form S-4 and that will constitute a prospectus with respect to shares of common stock of Keystone Parent to be issued in the business combination and Check-Cap intends to deliver a proxy statement to its shareholders in connection with the special meeting of its shareholders. Check-Cap and Keystone Parent may also file other documents with the SEC regarding the business combination. This press release is not a substitute for the prospectus or any other document which Keystone Parent or Check-Cap may file with the SEC. INVESTORS, KEYSTONE SECURITY HOLDERS AND CHECK-CAP SECURITY HOLDERS ARE URGED TO READ THE PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT ARE OR WILL BE FILED BY KEYSTONE PARENT OR CHECK-CAP WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION AND RELATED MATTERS. Investors, Keystone security holders and Check-Cap security holders will also be able to obtain free copies of the prospectus (when available) and other documents containing important information about Check-Cap, Keystone and the business combination that are or will be filed with the SEC by Check-Cap or Keystone through the website maintained by the SEC at www.sec.gov.
Participants in the Solicitation
Check-Cap, Keystone Parent and their respective directors and executive officers may be deemed under SEC rules to be participants in the solicitation of proxies from the shareholders of Check-Cap in connection with the business combination. Information about Check-Cap's directors and executive officers is set forth in Check-Cap's Annual Report on Form 20-F for the year ended December 31, 2022 which was filed with the SEC on March 31, 2023. Information about Keystone Dental's directors and executive officers will be set forth in the prospectus (when available). Other information regarding the interests of such individuals, as well as information regarding other persons who may be deemed participants in the business combination, will be set forth in the prospectus, the proxy statement and other relevant materials to be filed or submitted with the SEC when they become available. Investors, Keystone security holders and Check-Cap security holders and other readers should read the prospectus and the proxy statement carefully when they become available before making any voting or investment decisions.
No Offer or Solicitation
This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
Legal Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements”. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies of Check-Cap and/or Keystone Dental regarding the future including, without limitation, statements regarding Keystone’s technology and the benefits of tooth replacement solutions, expectations regarding the ownership structure of the combined company, and the structure, timing and completion of the proposed business combination. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “aim,” “target,” “commit,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward looking. Forward-looking statements are based on current expectations and assumptions that, while considered reasonable are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management’s control including general economic conditions; the outcome of any legal proceedings that may be instituted against Keystone Dental or Check-Cap following the announcement of the business combination; the inability to complete the business combination, including due to the inability to concurrently close the business combination or due to failure to obtain approval of the shareholders of Check-Cap; delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals, or delays in completing regulatory reviews, required to complete the business combination; the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the business combination; the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth, maintain relationships with customers and suppliers and retain key employees; costs related to the business combination; the possibility that the combined company may be adversely affected by other economic, business, and/or competitive factors; other risks and uncertainties indicated from time to time in the registration statement on Form S-4 filed by Keystone Parent with the SEC and other risks, uncertainties and factors set forth under “Risk Factors” therein as well as in the section entitled “Risk Factors,” in Check-Cap’s Report on Form 6-K furnished to the SEC on August 4, 2023, and its other filings with the SEC, as well as factors associated with companies, such as Keystone and Check-Cap, that operate in the life science industry. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Neither Check-Cap nor Keystone undertakes or accepts any duty to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or in the events, conditions or circumstances on which any such statement is based. This press release does not purport to summarize all of the conditions, risks and other attributes of an investment in Keystone, Check-Cap or the combined company.
Contact:
Jeremy Feffer
LifeSci Advisors
212-915-2568
jfeffer@lifesciadvisors.com
IRVINE, Calif., Nov. 06, 2023 (GLOBE NEWSWIRE) -- Keystone Dental Holdings (“Keystone Dental” or the “Company”), announced today the market launch of Nexus Connect (the “system”), a unique software system that utilizes proprietary technology and a machine-learning model to analyze implant scans performed with an intraoral scanner.
The system employs proprietary 3D computer vision algorithms and geometric processing to detect Nexus Scan Gauges, segment them from tissue, and calculate their positions to ensure the captured data can proceed to prosthetic design. The analysis mechanism is a mathematical regression model based on thousands of completed real-world cases enabling immediate scan data results at the source of capture.
For the first time, implant clinicians can get chairside results that indicate the quality and accuracy of their digital implant-scans. A successful result using Nexus Connect denotes that a prosthetic device manufactured by Osteon Medical, which Keystone Dental acquired in September 2021, using this data will achieve a passive fit prior to production. They AI enabled technology also provide feedback how to improve the scan is it is unsuccessful.
“We are proud to be able to offer Nexus Connect to all Nexus Users globally. The introduction of this A.I. enabled intraoral implant-scan analyzer software represents another example of Osteon Medical bringing forward a paradigm shift in the world of digital implant dentistry," said Melker Nilsson, CEO of Keystone Dental. “Nexus Connect was developed over a two-year period, beginning as an engineering assessment tool and expanding to become a sophisticated doctor facing analyzer. We are excited to see this innovative system come to the market to help dentists ensure that a prosthetic fits a patient the first time."
“We are excited to bring this software into the hands of our users and help them streamline their treatment cycles whilst improving on predictability,” said Michael Tuckman, Chief R&D Officer of Keystone Dental, founder of Osteon Medical, and inventor of Nexus iOS Scan Gauge technology.
The Nexus Connect PC startup page
Nexus Connect launches on a PC. Visit www.nexusios.com/nexus-connect to download Nexus Connect.
The Nexus Connect Offers Clear Outcomes
Upon uploading a patient’s scans of 2.0 Scan gauges in both Left to Right and Right to Left sequences and following a few steps, a dentist will receive one of three outcomes: SUCCESS, CONSIDER RESCAN, SCAN FAILURE. Above is an example of a successful scan that passed alignment analysis, allowing a dentist to confidently continue to order a Nexus prosthesis.
About Keystone Dental Group:
Keystone Dental is a global commercial-stage medical technology company focused on providing end-to-end tooth replacement solutions for dental practitioners. Headquartered in Irvine, California, and with research and development and manufacturing sites in Caesarea, Israel and Melbourne, Australia, Keystone Dental markets its products worldwide. The Company's product portfolio includes proprietary offerings such as its highly innovative implant systems Genesis Active, Molaris™ and Prima Plus™ that offers unique solutions to the dental practitioners. In addition, the Company also offers an attractive dental implant value brand in Paltop, and a well-regarded portfolio of biomaterials mainly sold under the DYNA brand. Keystone Dental acquired Implant Solutions Pty Ltd ("Osteon") in 2021, adding a comprehensive portfolio of prosthetic solutions on implants and digital workflow capabilities, not least the groundbreaking Nexus iOS digital workflow solution for restoring the fully edentulous patient. For more information, refer to www.keystonedental.com.
Proposed Business Combination Agreement
In August 2023, Keystone Dental and Check-Cap Ltd. ("Check-Cap" or the “Company”) (NASDAQ: CHEK) announced entering into a definitive Business Combination Agreement (the "Business Combination Agreement") under which the stockholders of Keystone Dental will become the majority holders of the combined company. If completed, the business combination will create a public company headquartered in Irvine, CA and focused on advancing commercial execution and market development of Keystone Dental’s comprehensive portfolio of implants, arches and other tooth replacement solutions comprised of restoration products, prosthetic solutions, biomaterial, and digital dentistry capabilities. Upon closing of the transaction, the combined company will trade on the NASDAQ under the symbol “KSD.” The executive team of Keystone Dental will serve as the executive team of the combined company, led by Melker Nilsson, Keystone’s Chief Executive Officer.
About Check-Cap
Check-Cap (NASDAQ: CHEK) is a clinical stage medical diagnostics company aiming to redefine colorectal cancer (CRC) screening through the introduction of C-Scan®, a screening test designed to detect polyps before they may transform into colorectal cancer and enable early intervention and cancer prevention. C-Scan is an investigational device and is not available for sale in the United States.
Important Additional Information and Where to Find It
In connection with the business combination, a newly formed wholly owned subsidiary of Keystone Dental (“Keystone Parent”) has filed with the SEC a registration statement on Form S-4 and that will constitute a prospectus with respect to shares of common stock of Keystone Parent to be issued in the business combination and Check-Cap intends to deliver a proxy statement to its shareholders in connection with the special meeting of its shareholders. Check-Cap and Keystone Parent may also file other documents with the SEC regarding the business combination. This press release is not a substitute for the prospectus or any other document which Keystone Parent or Check-Cap may file with the SEC. INVESTORS, KEYSTONE SECURITY HOLDERS AND CHECK-CAP SECURITY HOLDERS ARE URGED TO READ THE PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT ARE OR WILL BE FILED BY KEYSTONE PARENT OR CHECK-CAP WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION AND RELATED MATTERS. Investors, Keystone security holders and Check-Cap security holders will also be able to obtain free copies of the prospectus (when available) and other documents containing important information about Check-Cap, Keystone and the business combination that are or will be filed with the SEC by Check-Cap or Keystone through the website maintained by the SEC at www.sec.gov.
Participants in the Solicitation
Check-Cap, Keystone Parent and their respective directors and executive officers may be deemed under SEC rules to be participants in the solicitation of proxies from the shareholders of Check-Cap in connection with the business combination. Information about Check-Cap's directors and executive officers is set forth in Check-Cap's Annual Report on Form 20-F for the year ended December 31, 2022 which was filed with the SEC on March 31, 2023. Information about Keystone Dental's directors and executive officers will be set forth in the prospectus (when available). Other information regarding the interests of such individuals, as well as information regarding other persons who may be deemed participants in the business combination, will be set forth in the prospectus, the proxy statement and other relevant materials to be filed or submitted with the SEC when they become available. Investors, Keystone security holders and Check-Cap security holders and other readers should read the prospectus and the proxy statement carefully when they become available before making any voting or investment decisions.
No Offer or Solicitation
This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
Legal Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements”. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies of Check-Cap and/or Keystone Dental regarding the future including, without limitation, statements regarding Keystone’s technology and the benefits of tooth replacement solutions, expectations regarding the ownership structure of the combined company, and the structure, timing and completion of the proposed business combination. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “aim,” “target,” “commit,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward looking. Forward-looking statements are based on current expectations and assumptions that, while considered reasonable are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management’s control including general economic conditions; the outcome of any legal proceedings that may be instituted against Keystone Dental or Check-Cap following the announcement of the business combination; the inability to complete the business combination, including due to the inability to concurrently close the business combination or due to failure to obtain approval of the shareholders of Check-Cap; delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals, or delays in completing regulatory reviews, required to complete the business combination; the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the business combination; the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth, maintain relationships with customers and suppliers and retain key employees; costs related to the business combination; the possibility that the combined company may be adversely affected by other economic, business, and/or competitive factors; other risks and uncertainties indicated from time to time in the registration statement on Form S-4 filed by Keystone Parent with the SEC and other risks, uncertainties and factors set forth under “Risk Factors” therein as well as in the section entitled “Risk Factors,” in Check-Cap’s Report on Form 6-K furnished to the SEC on August 4, 2023, and its other filings with the SEC, as well as factors associated with companies, such as Keystone and Check-Cap, that operate in the life science industry. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Neither Check-Cap nor Keystone undertakes or accepts any duty to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or in the events, conditions or circumstances on which any such statement is based. This press release does not purport to summarize all of the conditions, risks and other attributes of an investment in Keystone, Check-Cap or the combined company.
Contact:
Jeremy Feffer
LifeSci Advisors
212-915-2568
jfeffer@lifesciadvisors.com
Proposed business combination to create a Nasdaq-listed medical device company focused on advancing the commercial execution and market development of Keystone’s comprehensive portfolio of implants, arches and other tooth replacement solutions
Keystone 2022 revenues exceeded $60 million
The combined company will trade on the NASDAQ with the ticker “KSD”
Investor conference call and webcast scheduled for 8:30 a.m. ET on Thursday, August 17th
IRVINE, Calif. and BURLINGTON, Mass., Aug. 16, 2023 (GLOBE NEWSWIRE) -- Keystone Dental Holdings, Inc. ("Keystone Dental") and Check-Cap Ltd. ("Check-Cap" or the “Company”) (NASDAQ: CHEK) today announced that they have entered into a definitive Business Combination Agreement (the "Business Combination Agreement") under which the stockholders of Keystone Dental will become the majority holders of the combined company. If completed, the business combination will create a public company headquartered in Irvine, CA and focused on advancing commercial execution and market development of Keystone Dental’s comprehensive portfolio of implants, arches and other tooth replacement solutions comprised of restoration products, prosthetic solutions, biomaterial, and digital dentistry capabilities.
Upon closing of the transaction, the combined company will trade on the NASDAQ under the symbol “KSD.” The executive team of Keystone Dental will serve as the executive team of the combined company, led by Melker Nilsson, Keystone’s Chief Executive Officer.
"We are excited to enter into a definitive business combination agreement with Keystone Dental, a commercial-stage medical technology company focused on providing end-to-end solutions for dental practitioners and tooth replacement procedures,” said Steven Hanley, Chairman of the Board of Directors of Check-Cap. “Following a comprehensive and thorough review of strategic alternatives that Check-Cap’s board and its advisors undertook involving the review of over 40 formal offers, Check-Cap’s Board of Directors concluded that the proposed transaction with Keystone Dental is in the best interest of our shareholders. We intend to hold a special meeting of Check-Cap shareholders in the fourth quarter of 2023 to vote on this business combination."
“The proposed business combination with Check-Cap is expected to be a transformative step forward in the execution of our mission to establish Keystone Dental as a leading, pure-play global provider of tooth replacement solutions. Over the past few years, we have developed a comprehensive portfolio of end-to-end solutions for dental practitioners and tooth replacement procedures with the goal of giving patients a better and more comfortable experience while providing our customers with unique tools to enhance their daily workflow. During that time, we have also established a growing salesforce across the U.S. and distribution system, which has contributed to our robust revenue growth and improved market share position among the premium players,” stated Mr. Nilsson.
Based upon the number of shares to be issued in the business combination, current Check-Cap security holders are expected to own approximately 15% of the combined company representing an equity valuation of $39.7 million and Keystone Dental security holders are expected to own approximately 85% of the combined company representing an equity valuation of $225 million. The actual allocation will be subject to adjustment based on Check-Cap’s net cash balance at the time of closing. The Business Combination Agreement provides for a Check-Cap net cash target of $22.3 million at closing of the transaction which implies a $17.4 million premium to the Check-Cap net cash target.
The proposed transaction has been approved by the board of directors of both companies. The business combination is subject to the approval of Check-Cap shareholders at a special meeting of shareholders, which is expected to occur in the fourth quarter of 2023, along with the satisfaction or waiver of other customary conditions.
Ladenburg Thalmann & Co. Inc. is acting as financial advisor to Check-Cap for the transaction. BofA Securities is acting as capital markets advisor to Keystone Dental.
Conference Call Information
Keystone Dental and Check-Cap will host a conference call and webcast tomorrow, August 17, at 8:30 AM Eastern Time. The call can be accessed by dialing (877) 269-7751 (U.S. and Canada) or (201) 389-0908 (international) and entering passcode 13740624. A link to the live webcast, including the presentation of corporate slides, by clicking here. To access a subsequent archived recording, visit the “Events & Presentations” section of the Check-Cap website at https://ir.check-cap.com/events-and-presentations, or the “Events” section of the Keystone Dental website at https://keystonedental.com/pages/events.
About Keystone Dental Holdings, Inc.
Keystone Dental is a global commercial-stage medical technology company focused on providing end-to-end tooth replacement solutions for dental practitioners. Headquartered in Irvine, California, and with research and development and manufacturing sites in Caesarea, Israel and Melbourne, Australia, Keystone Dental markets its products worldwide. The company's product portfolio includes proprietary offerings such as its highly innovative implant systems Genesis Active, Molaris™ and Prima Plus™ that offers unique solutions to the dental practitioners. In addition, the company also offers an attractive dental implant value brand in Paltop, and a well-regarded portfolio of biomaterials mainly sold under the DYNA brand. Keystone acquired Implant Solutions Pty Ltd ("Osteon") in 2021, adding a comprehensive portfolio of prosthetic solutions on implants and digital workflow capabilities, not least the groundbreaking Nexus iOS digital workflow solution for restoring the fully edentulous patient. For more information, refer to www.keystonedental.com.
About Check-Cap
Check-Cap (NASDAQ: CHEK) is a clinical stage medical diagnostics company aiming to redefine colorectal cancer (CRC) screening through the introduction of C-Scan®, the first and only patient-friendly preparation-free screening test to detect polyps before they may transform into colorectal cancer and enable early intervention and cancer prevention. C-Scan is an investigational device and is not available for sale in the United States.
Important Additional Information and Where to Find It
In connection with the business combination, a newly formed wholly owned subsidiary of Keystone Dental (“Keystone Parent”) intends to file with the SEC a registration statement on Form S-4 and that will constitute a prospectus with respect to shares of common stock of Keystone Parent to be issued in the business combination and Check-Cap intends to deliver a proxy statement to its shareholders in connection with the special meeting of its shareholders. Check-Cap and Keystone Parent may also file other documents with the SEC regarding the business combination. This press release is not a substitute for the prospectus or any other document which Keystone Parent or Check-Cap may file with the SEC. INVESTORS, KEYSTONE SECURITY HOLDERS AND CHECK-CAP SECURITY HOLDERS ARE URGED TO READ THE PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT ARE OR WILL BE FILED BY KEYSTONE PARENT OR CHECK-CAP WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION AND RELATED MATTERS. Investors, Keystone security holders and Check-Cap security holders will also be able to obtain free copies of the prospectus (when available) and other documents containing important information about Check-Cap, Keystone and the business combination that are or will be filed with the SEC by Check-Cap or Keystone through the website maintained by the SEC at www.sec.gov.
Participants in the Solicitation
Check-Cap, Keystone Parent and their respective directors and executive officers may be deemed under SEC rules to be participants in the solicitation of proxies from the shareholders of Check-Cap in connection with the business combination. Information about Check-Cap's directors and executive officers is set forth in Check-Cap's Annual Report on Form 20-F for the year ended December 31, 2022 which was filed with the SEC on March 31, 2023. Information about Keystone Dental's directors and executive officers will be set forth in the prospectus (when available). Other information regarding the interests of such individuals, as well as information regarding other persons who may be deemed participants in the business combination, will be set forth in the prospectus, the proxy statement and other relevant materials to be filed or submitted with the SEC when they become available. Investors, Keystone security holders and Check-Cap security holders and other readers should read the prospectus and the proxy statement carefully when they become available before making any voting or investment decisions.
No Offer or Solicitation
This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
Legal Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements”. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies of Check-Cap and/or Keystone Dental regarding the future including, without limitation, statements regarding Keystone’s technology and the benefits of tooth replacement solutions, expectations regarding the ownership structure of the combined company, and the structure, timing and completion of the proposed business combination. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “aim,” “target,” “commit,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that statement is not forward looking. Forward-looking statements are based on current expectations and assumptions that, while considered reasonable are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management’s control including general economic conditions; the outcome of any legal proceedings that may be instituted against Keystone Dental or Check-Cap following the announcement of the business combination; the inability to complete the business combination, including due to the inability to concurrently close the business combination or due to failure to obtain approval of the shareholders of Check-Cap; delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals, or delays in completing regulatory reviews, required to complete the business combination; the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the business combination; the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth, maintain relationships with customers and suppliers and retain key employees; costs related to the business combination; the possibility that the combined company may be adversely affected by other economic, business, and/or competitive factors; other risks and uncertainties indicated from time to time in the registration statement on Form S-4 which is expected to be filed by Keystone Parent with the SEC and other risks, uncertainties and factors set forth under “Risk Factors” therein as well as in the section entitled “Risk Factors,” in Check-Cap’s Report on Form 6-K furnished to the SEC on August 4, 2023, and its other filings with the SEC, as well as factors associated with companies, such as Keystone and Check-Cap, that operate in the life science industry. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Neither Check-Cap nor Keystone undertakes or accepts any duty to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or in the events, conditions or circumstances on which any such statement is based. This press release does not purport to summarize all of the conditions, risks and other attributes of an investment in Keystone, Check-Cap or the combined company.
Contact:
Jeremy Feffer
LifeSci Advisors
212-915-2568
jfeffer@lifesciadvisors.com
BURLINGTON, Mass., June 14, 2023 /PRNewswire/ -- Keystone Dental Holdings, Inc. ("Keystone Dental"), a global commercial-stage medical technology company with a comprehensive portfolio of tooth replacement solutions comprised of implants, prosthetic solutions, biomaterial, and digital dentistry capabilities, announced that effective May 1, 2023, Greg Minzenmayer has been appointed Vice President & Global General Manager for Osteon Medical.
Mr. Minzenmayer assumes global responsibility for Osteon Medical ("Implant Solutions Pty Ltd"), a leading digital dentistry technology company founded in 2011 and acquired by Keystone Dental Holdings, Inc. in 2021.
Mr. Minzenmayer has over 27 years of industry experience finding and implementing ways to grow revenue and develop organizations. In his recent role, Mr. Minzenmayer served as Vice President and General Manager of the Prosthetic and Digital business unit for Nobel Biocare, part of Envista. Prior to that, he was the Chief Operating Officer of Glidewell Dental for over 15 years, leading Glidewell's digital transformation efforts.
Melker Nilsson, CEO of Keystone Dental, commented: "Keystone continues to attract great talent, and Greg will be a vital addition to our management team. Not only does he have significant operational know-how, but his general knowledge and experience of the dental market will be highly valuable as we continue to grow."
Michael Tuckman, the founder of Osteon Medical, and creator behind the highly acclaimed Nexus iOS technology, will transition into the Global Chief Research and Development Officer role for Osteon. This will allow Mr. Tuckman to focus on the development and commercialization of new digital technologies to further expand the competitive digital position of Keystone Dental globally within the $5 billion dental implant market. Mr. Tuckman will remain an active board member of the KDG Board of Directors.
"Innovation carries significant strategic value and is a core part of our business. With Michael Tuckman's proven track record in digital technologies, we will significantly expand our new developments," said Melker Nilsson.
About Keystone Dental Holdings, Inc.
Keystone Dental is a global commercial-stage medical technology company focused on providing end-to-end solutions for dental practitioners and tooth replacement procedures. Headquartered in Burlington, Massachusetts, with a distribution facility in Irvine, California, and a research and development and manufacturing site in Caesarea, Israel, Keystone Dental markets its products worldwide. The company's product portfolio includes proprietary offerings such as Osteon, Nexus iOS, Genesis – The Biomimetic Implant System™, the TILOBEMAXX™, PrimaConnex® and Prima Plus™ Implant Systems, the DynaMatrix® extracellular membrane, and the Dyna Blast® and DynaGraft D® bone graft substitutes. Keystone acquired Implant Solutions Pty Ltd ("Osteon") in 2021, adding a comprehensive portfolio of prosthetic solutions on implants and digital workflow capabilities. For more information, refer to www.keystonedental.com.
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 more accurate complex implementation procedure. Nexus IOS solution includes a scanning component, AI-based design software, and industrialized additive and subtractive production processes. Osteon is headquartered in Melbourne, Australia, and supported by dedicated production facilities in Melbourne, Australia, Osaka, Japan, and Irvine, California. The company's products are available in Australia, Japan, Europe, and North America.
Contact:
Amnon Tamir
CFO Keystone Dental Group
atamir@keystonedental.com
BURLINGTON, Mass., June 09, 2022 (GLOBE NEWSWIRE) -- Keystone Dental Holdings, Inc. (“Keystone Dental”), a global commercial stage medical technology company with a comprehensive portfolio of tooth replacement solutions comprised of implants, prosthetic solutions, biomaterial solutions, and digital dentistry capabilities, announced today highlights from the Company’s 2022 Global Interdisciplinary Symposium, hosted in Las Vegas, NV from May 19-21, 2022.
Serving as a customer engagement event and the launch pad for more than 300 new products, Keystone Dental hosted a three-day Symposium, which was attended by more than 600 dental professionals and 45 exhibitors, facilitated by more than 20 industry-leading educators.
In addition, the event included a total of 15 hands-on workshops and 19 scientific sessions that showcased the broad Keystone Dental product portfolio including: Nexus iOS, Genesis, Prima Plus, Paltop, Molaris, and DYNA.
Melker Nilsson, CEO of Keystone Dental, stated, “The Symposium exceeded our expectations. I am proud of our team for executing such a successful event, bringing together our customers and partners, plus many of the most well-respected industry leading influencers to compose an extensive line up of scientific lectures. We are incredibly excited about the continued innovation we can provide to the dental market.”
Concurrently with the event, Keystone Dental introduced its Nexus iOS platform in the U.S., and the launch of the Paltop Dynamic Conical Implant, Torque Calibration Unit, and new Restorative Components.
About Keystone Dental Holdings, Inc.
Keystone Dental Group is a global commercial stage medical technology company focused on providing end-to-end solutions for dental practitioners and tooth replacement procedures. Headquartered in Burlington, Massachusetts with a distribution facility in Irvine, California, and a research and development and manufacturing site in Caesarea, Israel and in Melbourne, Australia, Keystone Dental Group markets its products across the world. The Company’s comprehensive portfolio of tooth replacement solutions is comprised of implants, prosthetic solutions, biomaterial solutions and digital dentistry capabilities. It includes proprietary offerings such as Osteon, Nexus iOS, Genesis – The Biomimetic Implant System™, the TILOBEMAXX™, PrimaConnex® and Prima Plus™ Implant Systems, the DynaMatrix® extracellular membrane, and the Dyna Blast® and DynaGraft D® bone graft substitutes. Keystone Dental Group acquired Implant Solutions Pty Ltd (“Osteon”) in 2021, adding a comprehensive portfolio of prosthetic solutions on implants and digital workflow capabilities. For more information, refer to www.keystonedental.com.
Contact:
Leigh Salvo
Gilmartin Group
leigh@gilmartinir.com
BURLINGTON, MASS., April 13, 2022 - Keystone Dental Holdings, Inc. (“Keystone Dental”), a global commercial stage medical technology company with a comprehensive portfolio of tooth replacement solutions comprised of implants, prosthetic solutions, biomaterial solutions, and digital dentistry capabilities, announced today that the company has collaborated with Milestone Scientific to become a strategic channel partner for its STA Single Tooth Anesthesia® System.
Arjan Haverhals, CEO of Milestone Scientific Inc. commented, “We are delighted to announce a series of key initiatives to expand domestic distribution of the STA Single Tooth Anesthesia system. Keystone Dental Group is an ideal strategic channel partner given their dedicated sales force and broad reach across the U.S. Implant dentistry is a natural fit for the STA Single Tooth Anesthesia system, since it allows for localized anesthesia across a wide range of dental procedures. Through the use of our STA Single Tooth Anesthesia system, implant dentistry can be performed without the discomfort or potential risks and complications that could occur when numbing an entire quadrant of the patient’s mouth. Keystone Dental Group has a proven track record of introducing new products, including specialized instruments that require hands on training and support.”
Melker Nilsson, CEO of Keystone Dental, stated, “Keystone is very pleased to work with a leading partner in Milestone Scientific. This collaboration provides potential for improved patient care by embracing solutions that create a better, more comfortable patient experience and provide our customers with unique tools that enhance their daily workflow. We look forward to introducing these new capabilities from the STA Single Tooth Anesthesia system across our sales force and customer base.”
About Milestone Scientific, Inc.
Milestone Scientific Inc. (MLSS), a technology focused medical research and development company that patents, designs and develops innovative injection technologies and instruments for medical, dental and cosmetic applications. Milestone Scientific’s computer-controlled systems are designed to make injections precise, efficient and increase the overall patient comfort and safety. Their proprietary DPS Dynamic Pressure Sensing Technology® instruments is the platform to advance the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetic. To learn more, view the MLSS brand video or visit milestonescientific.com.
About Keystone Dental Holdings, Inc.
Keystone Dental Group is a global commercial stage medical technology company focused on providing end-to-end solutions for dental practitioners and tooth replacement procedures. Headquartered in Burlington, Massachusetts with a distribution facility in Irvine, California, and a research and development and manufacturing site in Caesarea, Israel and in Melbourne, Australia, Keystone Dental Group markets its products across the world. The Company’s comprehensive portfolio of tooth replacement solutions is comprised of implants, prosthetic solutions, biomaterial solutions and digital dentistry capabilities. It includes proprietary offerings such as Osteon, Nexus iOS, Genesis – The Biomimetic Implant System™, the TILOBEMAXX™, PrimaConnex® and Prima Plus™ Implant Systems, the DynaMatrix® extracellular membrane, and the Dyna Blast® and DynaGraft D® bone graft substitutes. Keystone Dental Group acquired Implant Solutions Pty Ltd (“Osteon”) in 2021, adding a comprehensive portfolio of prosthetic solutions on implants and digital workflow capabilities. For more information, refer to www.keystonedental.com.
Contact:
Leigh Salvo
Gilmartin Group
leigh@gilmartinir.com
BURLINGTON, MASS., February 24, 2022 - Keystone Dental Holdings, Inc. (“Keystone Dental”), a global commercial stage medical technology company with a comprehensive portfolio of tooth replacement solutions comprised of implants, prosthetic solutions, biomaterial solutions, and digital dentistry capabilities, announced that effective March 1, 2022 Ofer Zigman joins the Company as Vice President of R&D and Kishore Pranjivan joins the Company as Country Manager Canada.
Melker Nilsson, CEO of Keystone Dental commented: “We are very excited to welcome Kishore and Ofer to the Keystone leadership team. Geographical expansion and continuous innovation are key components of our growth strategy as we emerge in the market as a global provider of tooth replacement solutions. I am very pleased to add two distinguished individuals in their respective roles to lead these facets of our business.”
Mr. Zigman, who assumes responsibility for Keystone’s Israeli development team, brings more than 15 years of executive level experience in the medical device industry that included seven years leading R&D teams in the dental implant industry. In this new role at Keystone Dental, Mr. Zigman will primarily focus on R&D and product management. He will also oversee the development of new products and support the acceleration of Keystone Dental’s development pipeline. Most recently Mr. Zigman served as VP of R&D at Hospitech Respiration formulating the company’s innovation roadmap and execution. Prior to that, he was the VP of Product and R&D at AlphaBio Tec (ABT), where he led dental implant developments and go-to-market strategy. Before AlphaBio Tec, he was the VP of R&D at Xenolith Medical where he oversaw product development from concept to commercialization.
Mr. Pranjivan assumes responsibility for the establishment and development of Keystone Dental’s direct sales organization in Canada. Mr. Pranjivan has more than 30 years of experience in the dental market, including more than 20 years of senior-level manager and director roles within Nobel Biocare. During his tenure with Nobel Biocare Mr Pranjivan held various subsidiary roles, such as Regional Director in Australia and Asia, Country Manager in Canada and Regional Director in UK and Ireland.
Most recently, Mr. Pranjivan held a position of Director of Special Markets and Institutions at Henry Schein Canada. In this role, his key focus was development and support of group practices and DSO’s in Canada
About Keystone Dental Holdings, Inc.
Keystone Dental is a global commercial stage medical technology company focused on providing end-to-end solutions for dental practitioners and tooth replacement procedures. Headquartered in Burlington, Massachusetts with a distribution facility in Irvine, California, and a research and development and manufacturing site in Caesarea, Israel and in Melbourne, Australia, Keystone Dental markets its products across the world. The Company’s comprehensive portfolio of tooth replacement solutions is comprised of implants, prosthetic solutions, biomaterial solutions and digital dentistry capabilities. It includes proprietary offerings[1] such as Osteon, Nexus iOS, Genesis – The Biomimetic Implant System™, the TILOBEMAXX™, PrimaConnex® and Prima Plus™ Implant Systems, the DynaMatrix® extracellular membrane, and the Dyna Blast® and DynaGraft D® bone graft substitutes. Keystone acquired Implant Solutions Pty Ltd (“Osteon”) in 2021, adding a comprehensive portfolio of prosthetic solutions on implants and digital workflow capabilities. For more information, refer to www.keystonedental.com.
Contact:
Leigh Salvo
Gilmartin Group
leigh@gilmartinir.com
BURLINGTON, MASS., February 28, 2022 - Keystone Dental Holdings, Inc. (“Keystone Dental”), a global medical technology company with a comprehensive portfolio of tooth replacement solutions comprised of implants, prosthetic solutions, biomaterial solutions, and digital dentistry capabilities, announced the appointment of Sheryl Conley to the company’s Board of Directors, effective February 25, 2022.
Dr. Uri Geiger, Chairman of Keystone’s Board commented: “We are delighted to welcome Sheryl to Keystone and our board of directors. Sheryl brings to the board more than 35 years of healthcare industry experience, with specific expertise in operations, product development, global brand management, and sales. Her vast executive and board experience will be an invaluable asset to leverage as the company moves ahead towards solidifying its place as a leader in the tooth replacement market. With Sheryl’s joining, Keystone has completed the formation of independent and diversified high caliber board”
Ms. Conley spent 25 years with Zimmer, Inc. in escalating management roles including Group President, Americas and Global Brand Management, and Chief Marketing Officer. In these roles, Ms. Conley worked across numerous product segments, including responsibility for the Dental Division, and geographies managing and developing commercial releases of over 50 industry leading brands. She currently serves as a public board director for Neuronetics, Inc., Surgalign Holdings, Inc., and Anika Therapeutics, Inc. Sheryl received a Bachelor of Science in Biology and Chemistry and a Master of Business Administration from Ball State University.
About Keystone Dental Holdings, Inc.
Keystone Dental is a global commercial stage medical technology company focused on providing end-to-end solutions for dental practitioners and tooth replacement procedures. Headquartered in Burlington, Massachusetts with a distribution facility in Irvine, California, and a research and development and manufacturing site in Caesarea, Israel and in Melbourne, Australia, Keystone Dental markets its products across the world. The Company’s comprehensive portfolio of tooth replacement solutions is comprised of implants, prosthetic solutions, biomaterial solutions and digital dentistry capabilities. It includes proprietary offerings such as Osteon, Nexus iOS, Genesis – The Biomimetic Implant System™, the TILOBEMAXX™, PrimaConnex® and Prima Plus™ Implant Systems, the DynaMatrix® extracellular membrane, and the Dyna Blast® and DynaGraft D® bone graft substitutes. Keystone acquired Implant Solutions Pty Ltd (“Osteon”) in 2021, adding a comprehensive portfolio of prosthetic solutions on implants and digital workflow capabilities. For more information, refer to www.keystonedental.com.
Contact:
Leigh Salvo
Gilmartin Group
leigh@gilmartinir.com
BURLINGTON, Mass., Nov. 01, 2021 (GLOBE NEWSWIRE) -- Keystone Dental Holdings, Inc. (“Keystone Dental”), a global commercial stage medical technology company with a comprehensive portfolio of tooth replacement solutions comprised of implants, prosthetic solutions, biomaterial solutions, and digital dentistry capabilities, announced today that Mark Neri has been appointed Senior Vice President International Sales.
Mr. Neri assumes responsibility for all of the Keystone Dental’s implants systems, as well as the company’s regenerative product portfolio. In his new role, Mr. Neri will drive Keystone Dental’s continued expansion of offerings in international geographies, with oversight of direct sales professionals in select international geographies and third-party distributors in other regions.
Mr. Neri has developed and led high-performance teams in the dental device and related industries for more than 30 years, including as SVP of International Sales for BioHorizons Implant Systems. Most recently, Mr. Neri was President of the Americas for Neoss, Inc., a dental solutions company.
Melker Nilsson, CEO of Keystone Dental, commented: “We welcome Mark to the Keystone team. We are confident that his extensive knowledge and experience in the global dental industry, combined with his worldwide connections, will support our intention to expand our footprint while simultaneously aiding the existing network to increase visibility and sales through customer focused management, education and marketing.”
About Keystone Dental Holdings, Inc.
Keystone Dental is a global commercial stage medical technology company focused on providing end-to-end solutions for dental practitioners and tooth replacement procedures. Headquartered in Burlington, Massachusetts with a distribution facility in Irvine, California, and a research and development and manufacturing site in Caesarea, Israel, Keystone Dental markets its products across the world. The company’s product portfolio includes proprietary offerings such as Osteon, Nexus iOS, Genesis – The Biomimetic Implant System™, the TILOBEMAXX™, PrimaConnex® and Prima Plus™ Implant Systems, the DynaMatrix® extracellular membrane, and the Dyna Blast® and DynaGraft D® bone graft substitutes. Keystone acquired Implant Solutions Pty Ltd (“Osteon”) in 2021, adding a comprehensive portfolio of prosthetic solutions on implants and digital workflow capabilities. For more information, refer to www.keystonedental.com.
Contact:
Leigh Salvo
Gilmartin Group
leigh@gilmartinir.com
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
Contacts:
Leigh Salvo
Gilmartin Group
leigh@gilmartinir.com
Amanda Klein/Alex Jeffrey
Gasthalter & Co.
(212) 257-4170
Accelmed@gasthalter.com
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.
Contacts:
Leigh Salvo
Gilmartin Group
leigh@gilmartinir.com
