Debevoise Advises Clayton, Dubilier & Rice in the Acquisition of Carestream Dental

13 April 2017

Debevoise & Plimpton LLP is advising Clayton, Dubilier & Rice, a private equity firm, on the carve-out acquisition of Carestream Dental, the digital dental business of Carestream Health. Debevoise is also advising on the financing aspects of the transaction.

Carestream Dental is a leading provider of dental technology with a portfolio of digital imaging equipment and practice management software that supports a global dental market undergoing rapid advances in standards of care and clinical efficiency. Carestream Dental holds over 500 patents and offers a comprehensive line of 2D and 3D extraoral imaging and intraoral imaging equipment and related software that is complemented by the company’s dental practice management software services, which manage all aspects of a dental practice from patient check-in to creation of digital patient records and image management. The company has approximately 1,500 employees worldwide and serves a large, diverse global customer base across 85,000 dental practices in 100 countries.

As announced, CD&R is partnering with CareCapital Advisors Limited, a specialist investment platform focused on dental and consumer health in Asia and part of Hillhouse Capital Management. Upon completion, CD&R-managed funds will invest 75% of the equity in the transaction, while Hillhouse/CareCapital affiliates will provide 25%. The transaction is expected to close in the third quarter of 2017.

The Debevoise team is led by partners Kevin A. Rinker, Michael A. Diz and Jeffrey E. Ross and includes partners Jeffrey P. Cunard, Peter A. Furci, Meir D. Katz, Scott B. Selinger and counsel Kyra K. Bromley and Stuart Hammer, and associates Joseph M. Binder, Jane Chung, Laura Ann Cicirelli, Michelle Gilmore, Michelle M. Hillenbrand, Ross Liemer, Sue Meng, Franklin L. Mitchell, Andrea Pomana, Christian Richter, Anna Smith, Caitlin Wilcox and Alexander Wolff.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.