3M Sells Dental Local Anesthetic Portfolio Assets to Pierrel S.p.A.

News
Article

Oral care company completes $70 million sale; will prioritize investments that leverage its Health Care business' core Oral Care technologies.

3M Sells Dental Local Anesthetic Portfolio Assets to Pierrel S.p.A.

Stating a prioritized focus on its health care business' core Oral Care technologies, 3M has completed the sale of certain assets from its dental local anesthetic portfolio, based in Seefeld, Germany, to Pierrel S.p.A.

Pierrel S.p.A. agreed to complete the purchase at a price of $70 million, subject to closing and other adjustments.

The local anesthetic products included in the portfolio being sold include products sold under the Ubistesin™, Xylestesin™ and Mepivastesin™ brands as well as related syringe and needle products. Sold primarily in Europe and Asia, these products were formerly a part of the dental materials business in 3M's Oral Care Solutions Division.

3M Sells Dental Local Anesthetic Portfolio Assets to Pierrel S.p.A.

According to Tuesday’s press release from 3M, the St. Paul, Minnesota company decided to exit these products and prioritize investments that leverage its Health Care business' core Oral Care technologies. 3M has retained ownership of its Seefeld facility and operations, which support 3M's Oral Care business.

These local anesthetic products had annual sales last year of around $30 million and the impact of its ongoing operations were not material to 3M's financial results, the company states.

The press release adds that 3M expects to record a gain in the third quarter of 2023 related to this business's divestiture which it will reflect as an adjustment in arriving at results, adjusted for special items.

3M Oral Care has long been a leader in dental restoratives. Last fall the company introduced the 3M™ Filtek™ Matrix – a restorative solution that makes composite placement less stressful and more predictable for dentists and more affordable for their patients. Clinicians can pair the Filtek Matrix with 3M™ Filtek™ Dental Restoratives to deliver optimal composite strength and wear resistance for patients.

Recent Videos
CDA 2024 Video Interview with Kuraray Noritake's Dinesh Weerasinghe and Richard Young, DDS
2024 Dental Products Report Spring Selection Bracket Reveal Video
2024 Chicago Dental Society Midwinter Meeting – Interview with Peter Maroon, business development and sales lead at Spectrum Solutions® on the new salivary diagnostic test, SimplyPERIO.
Product Bites – March 8, 2024 Part 2
Product Bites – March 8, 2024 Part 1
Contemporary Cosmetic Dentistry – Part II: Arresting Marginal Caries
GNYDM23 Product Focus: CandidPro with Kristin Lange, VP of Sales at Candid
Greater New York Dental Meeting 2023 – Interview with Suzanne Cano from LunaLite Dental
Greater New York Dental Meeting 2023 — Interview with Shannon Carroll, RDH
© 2024 MJH Life Sciences

All rights reserved.