Dentsply Sirona Merger: An interview with CEO Jeffrey T. Slovin

What excites you the most about the merger of DENTSPLY and Sirona?
There are a number of reasons why I am incredibly excited about this merger and our future as Dentsply Sirona. And I should add that the dental professionals, distributors, patients and employees I regularly speak with around the world are equally excited.
The global dental industry is in the midst of an evolution. The digitization of dentistry is happening and awareness about single visit dentistry and technology is rising. Dental professionals across the globe are moving toward more integrated solutions, even in new emerging markets, to deliver care efficiently and to improve clinical outcomes.
I believe that Dentsply Sirona is optimally positioned to continue leading this industry, serving our customers and advancing patient care. This merger harnesses the impressive capabilities of DENTSPLY and Sirona to make a new company with the strengthened ability to create innovative products to advance patient care. Dentsply Sirona will help shape the industry for years to come.
By combining DENTSPLY’s leading consumables platform with Sirona’s leading dental technology and equipment offerings, Dentsply Sirona now offers dental practitioners, dental laboratories and specialists more products and solutions than any other organization in the dental marketplace. As Dentsply Sirona we will excel at serving dental professionals through our comprehensive and leading consumables, equipment and technology solutions offering, world-class global sales and service infrastructure and the broadest clinical education platform in the global marketplace.
Finally, Dentsply Sirona has exceptionally strong leadership, with solid track records of growth and collaboration, drawn from both companies. This is an excellent and solid foundation on which to build and accelerate growth. As one combined team we will drive better, safer and faster dentistry around the world.

The new company is the world's largest manufacturer of professional dental products and technologies. How do you expect this will affect the global dental industry?
By merging together, Dentsply Sirona is well positioned to drive adoption of better, safer and faster dental solutions. As a more diversified, financially stronger and larger global company with a broader product platform, we have more resources to focus on innovation and support dental professionals and labs with the largest sales and service infrastructure in dental. The combination of DENTSPLY’s and Sirona’s product offerings unites some of the most well-established and effective dental brands, known throughout the years for their quality and innovation.
Dentistry will continue its rapid evolution. Today, general practitioners are taking on more specialized procedures that require integrated workflows with consumables and equipment to enhance efficiency and patient care. We’re also seeing increasing demand for dental care from developing and emerging markets. We expect these needs to keep evolving. Dentsply Sirona will be best positioned to uniquely meet the changing needs of the industry.
As the combination of the two largest innovators in the industry, Dentsply Sirona will drive digital and more efficient dentistry as the market leader. Our focus is on developing products that improve the patient experience by further enabling single-visit dentistry, reducing chair times and improving clinical outcomes. Combined with having the largest sales and service infrastructure in dental, supported by leading dental distributors and direct sales, we will be able to provide a broader, more complementary and compelling product offering. Ultimately, this will strengthen the ability of dental professionals to meet customer demand for more integrated solutions, digital dentistry and other key trends.

What is the overall objective of Dentsply Sirona? How do you plan to achieve this?
Our objective is to empower dental professionals to provide the better, safer and faster dental care. We will achieve this through the development of products and solutions that improve the patient experience, advance patient care and deliver better clinical outcomes worldwide.
As the world’s leading manufacturer of professional dental products and technologies, we will bring scale and product breadth to customers on a global basis. We will also improve solutions for dental practitioners, dental laboratories and specialists with faster technologies and workflow solutions. By doing this, we’ll expand access to care around the world and fundamentally improve oral health outcomes globally.
We plan to achieve this through an enhanced commitment to innovation and R&D, a broad clinical education platform, a more diversified product platform and by having the largest sales and service infrastructure in dental that brings us closer to our customers and their needs. The future of dentistry is about providing total solutions across the spectrum of treatment for patients, and we’ll be at the forefront of this industry evolution.

What is your vision for the future of dentistry?
The level of innovation and change we’ve seen in the dental industry over the last 20 years has been significant, but the pace and depth of innovation today are even more incredible. There are exciting new ideas and products being developed now that will have an immediate, transformative and lasting impact on the dental industry.
If we can count on one thing, it’s that dentistry will continue to evolve quickly. The important trends we see today will only accelerate – general practitioners will continue to take on more specialized procedures and require integrated workflows with consumables and equipment to enhance efficiency and patient care. Developing and emerging markets will experience growing demand for dental care, requiring increased productivity and efficiency brought about by integrated and digital solutions. What seems new and groundbreaking today will soon become the new normal, as patients will come to expect sophisticated mobile technology and 3D imaging in every visit.
One thing we can say with certainty is that Dentsply Sirona will continue to be at the forefront of this incredible evolution in dentistry. This merger is combining the two largest innovators, each with more than 100 years of experience, industry leading R&D platforms and more than 600 scientists and engineers. We’re enhancing our commitment to innovation in consumables, technology, equipment and specialty products, so that we are poised to continue driving key industry trends for our next 100 years.

What advantages will this merger offer dental professionals worldwide?
Blending DENTSPLY’s consumables and specialty products, including implants, orthodontics and endodontics, with Sirona’s technology and equipment will provide a comprehensive, end-to-end solutions offering to dental professionals, dealers and labs worldwide. By combining some of the most well-established and effective brands, known for their quality and innovation, Dentsply Sirona will be better able to serve dental professionals and develop new products to advance patient care. Our broader array of integrated dental solutions will give dental professionals the ability to reduce their patients’ chair time and make their practices more efficient. In addition to advancing clinical care, Dentsply Sirona will develop solutions that improve aesthetics and increase patient acceptance of care and satisfaction with treatments.

How will dental patients benefit from this merger?
We are truly a global company, and this merger will enable us to reach even more patients and have a positive impact on overall and specifically oral health globally. This merger is about continuing to deliver on our promise to dental professionals – to continuously advance patient care; to develop new, innovative products to drive better, safer and faster dentistry; and to use our incredible technological capabilities and educational outreach to lead the way in providing better clinical outcomes.
This merger, and our mission to patients, is entirely about being at the forefront of progress in dentistry. We will improve the patient experience by further enabling single-visit dentistry, not only with our Restorative products but also with our Integrated Implantology offerings, across Orthodontics, and all of our important areas of service. We will reduce chair times for patients and develop solutions that improve aesthetics and patient acceptance of care and satisfaction with their treatments. 

How will Dentsply Sirona integrate the product offerings from both companies?
DENTSPLY is a leader in consumables, while Sirona is a leader in dental technology and equipment offerings. Combined, Dentsply Sirona has a comprehensive end-to-end dental solutions offering that marries some of the most well-established and effective dental brands. We develop, manufacture and market a complete line of dental and oral health products. These products include general dental supplies and devices, CAD/CAM restoration systems (CEREC), a full suite of dental restorative products, digital intra-oral, panoramic and 3D imaging systems, dental treatment centers, hand pieces, hygiene systems, and dental specialty products in orthodontics, endodontics and implants. Our product and solution offering is comprehensive and complementary, enabling us to provide a diverse and valuable range of products to patients, dental professionals and labs. Additionally, our global consumable healthcare product team provides innovative urological and surgical solutions designed to improve the quality of life for patients.
Indeed, we are proud to be a preferred partner for dental practices, clinics, dental laboratories and authorized distributors worldwide. Our customers have been asking for integrated products that will improve their workflows and enable superior outcomes for patients. Dentsply Sirona is focused on delivering those desired solutions to our customers.

Can you tell us about your plans for new products and other innovations?
Innovation is at the core of Dentsply Sirona. By bringing together the two largest R&D platforms in the industry, each with more than 100 years of experience, and more than 600 experienced scientists and engineers, we have an enhanced commitment to developing new products to drive better, safer and faster dentistry.

The combined revenue of both companies is estimated at nearly $4 billion. How much do you expect your business to grow in the near future?
Our merger is all about growth through expanded solutions for dental professionals and improved patient care. We will be a larger global company with approximately 15,000 employees, the largest sales and service infrastructure in dental, a more diversified product offering and a deeper focus on R&D. We anticipate that the growing demand, both in developed and emerging markets, for dental services worldwide will continue to grow and evolve. Dentsply Sirona is well-positioned to capitalize on and drive these key trends and we’re excited about our growth prospects as a combined company. 

Will the merger create new jobs or opportunities for employees?
Merging DENTSPLY and Sirona presents a tremendous opportunity for talent, both within the combined company and the industry as a whole. We expect that with our larger size and enhanced R&D efforts there will be opportunities for both personal and professional growth for our associates. Transforming the industry and driving the adoption of digital dental solutions will require the creativity and efforts of our outstanding employees. As we make further progress on integration and transition planning, we will carefully study the opportunities before us to create an even greater organization going forward.

DENTSPLY and Sirona both had global operations. What will happen to these locations now that the companies are combined?
Dentsply Sirona’s Global Headquarters is in York, Pennsylvania and its International Headquarters is in Salzburg, Austria. Having these two main hubs anchored on two major continents, as well as our locations in more than 40 countries around the world, provides Dentsply Sirona with the critical mass we need to effectively support our global operations. We are truly a global company with deep roots in North America, Europe, Asia and across the world. One of the many benefits of this merger is that our global footprint gives the company and our employees the ability to collaborate, contribute and learn around the world. We live in an increasingly global world now, and we are excited about the possibilities for Dentsply Sirona with our expanded footprint.

What will the company’s expanded global footprint mean for employees?
As a global employer of choice, Dentsply Sirona offers various international career opportunities and supports personal and professional development through our world-class individual training and talent management programs. With the largest and most diversified product portfolio of professional dental products in the world, plus our locations in more than 40 countries and sales in over 120 countries, our employees will benefit from growth and career development opportunities with increased exposure to different aspects of the business and the marketplace.

What does the future look like in terms of further transactions? Are you looking into opportunities to acquire other dental companies?
Right now we are focused on integrating and running the business and executing our growth strategy as a combined company. Our future is full of opportunity and we are working hard to deliver on that promise to our employees, the global dental community and, ultimately, dental patients around the world.

How will this merger benefit Dentsply Sirona investors?
We believe the merger of DENTSPLY and Sirona will benefit our investors, which the shareholders of both companies overwhelmingly affirmed with their approvals of the transaction. The new company will have a stronger financial profile, robust cash flow and the enhanced financial flexibility to accelerate growth through improved solutions to dental professionals and their patients, as well as deliver returns to investors. Dentsply Sirona’s strong cash flow and flexible capital structure will also enable us to make growth reinvestments back into the business, which will benefit all of our stakeholders as we meet the challenge of and drive key industry trends to achieve growth.

 

date                          29. April, 2016

source                      Dentsply Sirona, press release