BURLINGTON, Mass., Sept. 01, 2021 (GLOBE NEWSWIRE) — Keystone Dental Inc. ("Keystone"), the largest independent dental implant company operating in North America, today announced a $25 million financing. The financing round was led by Nantahala, with participation from Accelmed and Accelmed's anchor investor, Migdal Insurance.
Proceeds from the financing were used to support Keystone's acquisition of Osteon Medical, a commercial stage leader in breakthrough dental implant solutions. In addition, remaining funds will be used for continued growth, including market expansion activities and other strategic investments. Key areas of focus are a highly innovative dental implant product portfolio in combination with market leading digital capability.
"It is a great honor to have such strong support from well–known investors on our journey of providing the global dental implant market with a comprehensive, world–class portfolio," said Melker Nilsson, CEO of Keystone. "These funds provide us with the additional capital we need for the acquisition of Osteon Medical. In addition, this financing delivers us working capital for the further acceleration of our anticipated growth, including exploration of organic as well as other in–organic initiatives within the dental implant market. We are very excited about the opportunities ahead."
Dr. Uri Geiger, Managing Partner at Accelmed and Chairman of Keystone, commented, "In just three years, Keystone's leadership team, supported by Accelmed, executed a complete turnaround of the business, transforming it into a rapidly–growing company rife with innovation and a market leader in the premium–value dental segment in the US. The acquisitions of Paltop Advanced Dental Solutions LTD in 2019 and Osteon Medical, announced earlier today, further establish Keystone's leadership position in this $5 billion market opportunity. We are confident that these growth initiatives, combined with robust digital capabilities, and a premium–value product portfolio, ensure that Keystone is well–poised for continued growth."
About Accelmed Partners
Accelmed is a U.S.–based private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market HealthTech companies. Since 2009, Accelmed has deployed over $400 million into companies spanning medical devices, diagnostics, digital health and technology–enabled healthcare services, Accelmed seeks to accelerate value and scale innovation across the HealthTech field by bringing to bear the team's industry experience, operational and financial expertise, and strong global relationships. For more information, please visit https://www.accelmed.com
About Keystone Dental Inc.
Keystone Dental is an oral healthcare company dedicated to the delivery of breakthrough dental implant, biomaterial technologies and providing a highly innovative digital workflow. Headquartered in Burlington, Massachusetts with manufacturing and distribution facilities in Irvine, California, Keystone markets its products worldwide and is the largest independent dental implant company in North America. 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
Contacts:
Leigh Salvo
Gilmartin Group
leigh@gilmartinir.com
Amanda Klein/Alex Jeffrey
Gasthalter & Co.
(212) 257–4170
Accelmed@gasthalter.com
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