Geographic expansion and advanced technology help drive acquisitions in the dental products market.
The dental products market is expected to grow at an annualized rate of around 7%, reaching $27.6 billion by 2015. The market for dental implants and dental biomaterials is expected to grow at 6% and 10.5% respectively from 2010 – 2015.1
Revenue multiples are currently tracking at a median of 1.8x, while EBITDA multiples have a median of 14.2x. Since 2012, these have seen 71% and 35% increases, respectively.
Since the acquisition of Astra Tech by DENTSPLY in August 2011 and the acquisition of BioHorizons by Henry Schein in December 2013, there has been further consolidation among the top players in the market. In April 2014 Zimmer announced an agreement to acquire Biomet for $13.4 billion. Seven months later, Nobel Biocare, the world’s second-biggest maker of dental implants, was sold to Danaher Corp. for $2.4 billion.