ST. PAUL, Minn.--(BUSINESS WIRE)--3M today acquired Brontes Technologies Inc., a Lexington, Mass.-based
developer of proprietary 3-D intraoral imaging technology for $95
million in cash.
The acquisition adds to 3M’s oral care business proprietary intraoral
scanning technology that enables capturing 3-D digital dental
impressions used to design and produce crowns, bridges and orthodontic
appliances. Digital dentistry represents an important growth opportunity
for 3M as oral care procedures transition to digital processes.
Traditional methods for creating an impression of teeth involve placing
conformable materials inside the mouth. Dental professionals continue to
seek more convenient and patient-friendly impression solutions. Brontes’
leading edge intraoral scanning system will offer dentists a new and
powerful way to capture high-speed, precise impressions digitally, with
no materials involved, and provide significant productivity enhancements
and high-quality care for patients.
“This investment reflects 3M’s commitment to advanced technology and to
invest in markets which are likely to become high-growth areas in the
not too distant future,” said Brad Sauer, executive vice president, 3M
Health Care Business.
“Adding Brontes’ innovative technology to our oral care business, along
with previously announced investments and partnerships, strengthens our
technology portfolio and product development programs for the future,
and creates solid platforms for growth in adjacent market segments,”
said Tom Engels, division vice president, 3M ESPE.
“We believe that intraoral 3-D scanning will become the standard of care
in our field, and we have confidence that 3M will help our vision become
a reality,” commented Eric Paley, chief executive, Brontes Technologies.
“We’re delighted to join the 3M team.”
One of the world’s largest suppliers to the dental industry, 3M
manufactures and markets a wide range of products and services used by
dental professionals worldwide to improve oral health. These products
are designed to meet restorative, crown and bridge, orthodontic,
preventive, infection control, and cosmetic dentistry needs. 3M’s
current digital dentistry offering includes the Lava crown and bridge
system – an innovative restorative design and milling system that has
become a benchmark of quality among dentists and dental labs.
The transaction will result in an estimated fourth-quarter 2006 charge
in the range of $0.12 to $0.13 per share, reflecting the one-time
write-off of in-process research and development costs. Financial
accounting standards require companies to expense such costs upon
completion of the transaction. 3M will discuss fourth-quarter earnings
guidance on Oct. 20 during its third-quarter earnings conference call.
This news release contains forward-looking information (within the
meaning of the Private Securities Litigation Reform Act of 1995) about
the company’s financial results and estimates, business prospects, and
products under development that involve substantial risks and
uncertainties. You can identify these statements by the use of words
such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,”
“believe,” and other words and terms of similar meaning in connection
with any discussion of future operating or financial performance. Among
the factors that could cause actual results to differ materially are the
following: (1) worldwide economic conditions; (2) competitive conditions
and customer preferences; (3) foreign currency exchange rates and
fluctuations in those rates; (4) the timing and acceptance of new
product offerings; (5) the availability and cost of purchased
components, compounds, raw materials and energy (including oil and
natural gas and their derivatives) due to shortages, increased demand or
supply interruptions (including those caused by natural and other
disasters and other events); (6) the impact of acquisitions, strategic
alliances, divestitures, and other unusual events resulting from
portfolio management actions and other evolving business strategies, and
possible organizational restructuring; (7) generating less productivity
improvements than estimated; and (8) legal proceedings, including the
outcome of pending Congressional action concerning asbestos-related
litigation and other significant developments that could occur in the
legal and regulatory proceedings described in the company’s Annual
Report on Form 10-K for the year-ended Dec. 31, 2005 (the “Report”).
Changes in such assumptions or factors could produce significantly
different results. A further description of these factors is located in
the Report under Part I, Item 1A, “Risk Factors.” The information
contained in this news release is as of the date indicated. The company
assumes no obligation to update any forward-looking statements contained
in this news release as a result of new information or future events or
About Brontes Technologies Inc.
Brontes’ “real-time” 3-D intraoral imaging technology can quickly and
conveniently scan both arches of the mouth and will provide an
alternative to the traditional dental impression process. Brontes’
technology will capture 3-D digital data directly from the patient’s
mouth and enable streamlining the production of a wide variety of dental
restorations and appliances. The Brontes 3-D system will provide
patients high-quality care, offer dentists significant productivity
enhancements, and give laboratories more automated fabrication processes.
About 3M - A Global, Diversified Technology Company
Every day, 3M people find new ways to make amazing things happen.
Wherever they are, whatever they do, the company's customers know they
can rely on 3M to help make their lives better. 3M's brands include
Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command
and Vikuiti. Serving customers in more than 200 countries around the
world, the people of 3M use their expertise, technologies and global
strength to lead in major markets including consumer and office; display
and graphics; electronics and telecommunications; safety, security and
protection services; health care; industrial and transportation.
3M ESPE Dental and 3M Unitek Orthodontics are part of 3M Health Care,
which provides world-class innovative products and services to help
health-care professionals improve the practice and delivery of patient
care in medical, dental, orthodontic, pharmaceutical and health
Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete,
Command, Vikuiti, and Lava are trademarks of 3M.