Discus Dental/BriteSmile deal
This article was originally published in The Rose Sheet
Executive SummaryZoom professional tooth whitening system marketer has signed a definitive agreement to purchase assets of BriteSmile's Associated Center business and "substantially all of BriteSmile's intellectual property" for $35 mil. in cash and the assumption of certain liabilities, firm announces Jan. 3. Expected to close in February, deal includes 5,000 independent dental offices in more than 75 countries, as well as the rights to manufacture, market and distribute BriteSmile whitening products and accessories to Associated Centers. BriteSmile will use proceeds "to reduce debt, to operate or sell its Spa Centers Business, and to continue to prosecute legal claims related to enforcement of certain proprietary teeth-whitening rights," according to the company. However, Discus Dental notes the firms "have also agreed to settle all outstanding litigation between the two companies"...
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