Envista Holdings (NVST) expects to raise $603 million in an initial public offering on Wednesday, September 18th, IPO Scoop reports. The company will be issuing 26,800,000 shares at $21.00-$24.00 per share.
In the last year, Envista Holdings generated $2.8 billion in revenue and $214.7 million in net income. Envista Holdings has a market-cap of $3.5 billion.
J.P. Morgan, Goldman Sachs and Morgan Stanley acted as the underwriters for the IPO and Baird, Evercore ISI, Jefferies, BofA Merrill Lynch, Credit Suisse, Stifel and William Blair were co-managers.
Envista Holdings provided the following description of their company for its IPO: “Envista is one of the largest global dental products companies with significant market positions in some of the most attractive segments of the dental products industry, including implants, orthodontics and digital imaging technologies. We develop, manufacture and market one of the most comprehensive portfolios of dental consumables, equipment and services to dental professionals covering an estimated 90% of dentists’ clinical needs for diagnosing, treating and preventing dental conditions as well as improving the aesthetics of the human smile. Our operating companies, Nobel Biocare Systems, Ormco and KaVo Kerr, serve more than 1 million dentists in over 150 countries through one of the largest commercial organizations in the dental products industry and through our dealer partners. Innovation is a core part of our strategy and we believe that in 2018, our research and development expenditure of $172 million was one of the highest R&D spends in the dental products industry. Our business is deeply rooted in the Danaher operating culture, with an executive officer team that has over 50 collective years of service with Danaher leading a team of over 12,000 employees. In 2018, we generated total sales of $2,845 million, of which approximately 70% were derived from sales of consumables, services and spare parts. “.
Envista Holdings was founded in 2018 and has 12800 employees. The company is located at 200 S. Kraemer Blvd., Building E, Brea, CA 92821, US and can be reached via phone at (714) 817-7000 or on the web at http://www.envistaco.com.
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