Keystone Dental Enters into Definitive Agreement to be Acquired by Accelmed
Established Healthcare Investor to Build on Keystone’s Leadership Position in the U.S. Dental Implant Market to Create a Market Leader
Accelmed to Commit Significant Capital for Acquisitions and Licensing of Innovative Products
BURLINGTON, Mass., June 04, 2018 (via GLOBE NEWSWIRE) — Keystone Dental, Inc. (“Keystone” or “the Company”), a leading oral health care company dedicated to the delivery of breakthrough dental surgical and prosthetic technology, today announced it has entered into a definitive agreement to be acquired by Accelmed, a U.S. and Israel-based investment firm focused on value creation for medical device companies and technologies. The Company also announced that current CEO, Michael Kehoe, will transition out of his role for personal reasons over the next several months. The terms of the agreement were not disclosed.
“The acquisition of Keystone by Accelmed promises to catalyze the next phase of our company’s evolution to becoming a leader in the dental market,” said Michael Kehoe, Keystone’s CEO. “In addition to providing the growth capital required to ensure our premier positioning in the dental implant market, we believe that our team will benefit immediately from Accelmed’s track record of identifying innovative technologies that will enable us to anticipate our customers’ emerging needs for their practices. The combination of new technologies and expanded growth capital combined with Keystone’s large, experienced direct sales force is a recipe for accelerated expansion and enhanced offerings for customers. I look forward to working closely with the Accelmed team in the coming months to ensure a seamless transition as we identify a new CEO and will continue to support the company in the years to come.”
Headquartered in Burlington, Massachusetts with manufacturing and distribution facilities in Irvine, California, Keystone is the largest independent implants company in North America, with revenues in excess of $40 million. The company’s diverse product portfolio includes proprietary offerings in dental implants, biomaterials for oral surgery and digital dentistry.
“We are thrilled to acquire Keystone Dental, the best dental platform in the U.S. and our first acquisition in the rapidly growing dental implant market,” said Dr. Uri Geiger, Managing Partner of Accelmed and Chairman of Keystone. “We intend to leverage the trusted Keystone brand through a number of business combinations with innovative companies in dental implanting and digital dentistry to establish Keystone as a high growth industry leader.”
About Keystone Dental
Keystone Dental is an oral health care company dedicated to the delivery of breakthrough dental surgical and prosthetic technology. Headquartered in Burlington, Massachusetts with manufacturing and distribution facilities in Irvine, California, Keystone markets its products worldwide. The company’s product portfolio includes proprietary offerings such as Genesis – The Biomimetic Implant System™, the TILOBEMAXX™, PrimaConnex® and Prima Plus™ Implant Systems, the DynaMatrix® Extracellular Membrane, and the DynaBlast® and DynaGraft® bone graft substitutes.
For more information, refer to www.keystonedental.com.
Accelmed is a U.S./Israel-based investment firm focused on value creation for medical device companies and technologies. It was founded in 2009 by Dr. Uri Geiger and Mori Arkin and invests in small and mid-cap private and public companies. With its proven track record and large team of accomplished investment professionals, Accelmed’s vision is to create leading med-tech players by merging commercial platforms with small innovative growth companies, predominantly from Israel. For more information, refer to www.accelmed.com.
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