Carestream Dental Secures New Investment to Drive Next Stage of Growth

Funding, Secured as A part of Recapitalization, Led by Common Atlantic Credit score’s Atlantic Park Fund

Launch of New Oral Healthcare Innovation Hub to Construct the Follow of the Future

Atlanta, GA – September 9, 2024 – Carestream Dental Know-how Dad or mum Restricted (“Carestream Dental” or “the Firm”), a world chief in digital transformation for the oral healthcare {industry}, immediately introduced that it has secured new funding as a part of a recapitalization to help the continued execution of its strategic innovation agenda. Facilitated by elevating greater than $525 million of recent capital, with Common Atlantic Credit score’s (“GA Credit score”) Atlantic Park fund main a six-year first lien time period mortgage, the transaction establishes an fairness partnership comprising GA Credit score, Canyon Companions, and a number of other others. Clayton, Dubilier & Rice will proceed as a minority investor. The proceeds from the transaction will goal to considerably scale back debt, meaningfully prolong maturities, and supply ample flexibility for continued funding in instruments and expertise and help natural and inorganic strategic initiatives.

Carestream Dental was shaped in 2017 as an innovation and digital-led dental firm with a mission to remodel dentistry, simplify expertise and alter lives. Serving a couple of million customers throughout over 100 international locations, the Firm delivers industry-leading oral healthcare options, supported by market main experience and expertise in engineering, follow and DSO operational and scientific workflow, and remedy planning. 12 months so far, Carestream Dental has efficiently expanded its vary of merchandise and options, together with the launch of a brand new cone beam computed topography (CBCT) system, executed the numerous enlargement of its Sensei Cloud follow administration software program for specialty and enterprise clients, and shaped a number of new partnerships to offer clients with a extra seamless and built-in workflow expertise.

“We’re thrilled to companion with GA Credit score, Canyon Companions and our broader investor base as we work to construct the way forward for oral healthcare,” stated Lisa Ashby, Chief Govt Officer of Carestream Dental. “This transaction considerably strengthens Carestream Dental’s monetary place, offering a stronger platform for us to proceed investing in our enterprise and clients. We are going to proceed to innovate with expanded partnerships, the applying of AI throughout our options, and novel expertise centered on the prevention, remedy, and administration of oral healthcare. We’re excited for our robust future forward.”

Along with the recapitalization, Carestream Dental has launched the Firm’s Oral Healthcare Innovation Hub (“OHIH”), an innovation incubator centered on revolutionizing oral healthcare. OHIH will unveil Oral Healthcare Follow 2040 on the Worldwide Dental Present (“IDS”) in March 2025 in Cologne, Germany.

Matthew Bonanno, Managing Director at GA Credit score, stated, “Carestream Dental has a demonstrated observe report of efficiently delivering differentiated merchandise and complete options to its world buyer base. We consider this recapitalization positions Carestream Dental to make the most of robust secular tailwinds within the world market by persevering with to spend money on innovation and strategic partnerships.  Additional, we consider Carestream Dental is poised for significant development throughout a number of markets as the usual of care continues emigrate to the digitally enabled dental market. We stay up for leveraging our healthcare and software program experience to help Lisa and the crew in attaining the Firm’s development targets.”

Extra monetary phrases weren’t disclosed.

About Carestream Dental

Carestream Dental is a digital options chief constructed on greater than 125 years of expertise that’s dedicated to reworking dentistry, simplifying expertise and altering lives. On this pursuit, it presents three model portfolios that allow follow optimization, effectivity and development: The Carestream Dental model portfolio of world-class oral healthcare gadgets; the Swissmeda model portfolio of market-leading scientific software program and companies; and the Sensei model portfolio of best-in-class follow administration software program and companies. These options join {industry} companions, laboratories and payers to optimize oral healthcare suppliers’ most popular workflows. For extra data, please go to carestreamdental.com.

About Common Atlantic Credit score

Common Atlantic Credit score (“GA Credit score”) is the devoted credit score funding platform inside Common Atlantic, a number one world development investor. GA Credit score leverages a demonstrated observe report of strategic credit score partnerships throughout market cycles and capital buildings alongside Common Atlantic’s greater than 44 years of area experience and company-building capabilities. GA Credit score’s Atlantic Park technique supplies versatile capital to high-quality corporations in search of a strategic companion at varied levels of the company and financial lifecycle. This partnership method allows Atlantic Park to create personalized capital options tailor-made to an organization’s particular capital wants.

Common Atlantic has roughly $83 billion in property below administration inclusive of all merchandise as of June 30, 2024. For extra data, please go to: www.generalatlantic.com.