Earlier in the week, news broke that Dentsply Sirona had purchased Byte, which, according to the company, has a direct-to-consumer clear aligner system supported by a U.S. network of licensed dentists and orthodontists. The transaction was reportedly an all-cash deal worth $1.04 billion.
The news had many in the dental industry wondering what this meant for both Dentsply Sirona and Byte. Don Casey, CEO of Dentsply Sirona, shared some general thoughts about the acquisition, explained why both companies will benefit, and hypothesized why this move has the potential to connect more patients with dental professionals.
Don Casey, CEO of Dentsply Sirona.Q: Why did Dentsply Sirona decide to acquire Byte?
A: First of all, we share a passion for making dental care more accessible and helping patients have happy, healthy smiles. We decided to take this step because the acquisition presents a compelling opportunity to add scale and introduce new capabilities to our leading portfolio of dental solutions. Byte has a direct-to-consumer, doctor-directed clear aligner system supported by a nationwide network of licensed dentists and orthodontists. The combination has the potential to expand the market for orthodontic and dental care by connecting new patients with our existing network of dental professionals and helping them access quality oral healthcare.
Q: Why was this transaction interesting for Byte?
A: The transaction has a lot of advantages for both Byte and Dentsply Sirona. Byte will benefit from our strong global footprint and supply chain expertise. Moreover, our commitment to innovation and R&D will position our combined company for its next level of growth. Byte provides a strong platform of capabilities, including advanced digital marketing and data analytics. Together, we are expanding our clear aligner portfolio and adding an important set of capabilities to create a strengthened platform.
Q: Dentsply Sirona enters the business-to-consumer market with this acquisition. Is this a shift in your future strategy?
A: I would put it a different way. Acquiring Byte is the next step in our progression to drive revenue growth. This is a strategic acquisition that adds significant scale in the important clear aligner space. The global orthodontics market remains a large and underserved opportunity. We are excited to deepen our relationships with dental professionals who serve millions of customers worldwide.
Q: What does this mean for SureSmile?
A: SureSmile is an important part of our dental portfolio and will continue to play a key role in the overall growth of our company. We do not expect our current suite of products to change at this time, including our portfolio of SureSmile products. With SureSmile and Byte, we will have two powerful assets that will enhance our scale in a rapidly growing dental market, enabling more patients, dentists, and orthodontists to access our strengthened, combined clear aligner portfolio.
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