Corus and Signadens join forces to create the European leader of digital dental prosthesis
- Door de integratie zal de onderneming haar producten aanbieden in Frankrijk, Spanje, Nederland, België en Portugal, met 49 laboratoria en meer dan 1.200 werknemers.
- Corus zal worden geleid door de co-CEO’s Nicolas Bonnard (Corus) en Jeroen van Asten (Signadens), die de verantwoordelijkheden zullen delen voor de ontwikkeling van het bedrijf in respectievelijk Zuid-Europa en Noord-Europa.
- De onderneming zal voor toekomstige groei kunnen blijven rekenen op de steun van haar huidige private equity-investeerders Careventures en Quadrum Capital.
Barcelona (ES)/Amersfoort (NL), 23 of March 2022 – Corus, the leading dental laboratory group in Spain, France and Portugal, and Signadens, reference laboratory group in the Netherlands and Belgium, have joined forces to consolidate the European market of dental laboratories and become the market leader in European digital dental prosthesis.
Both companies unite their forces under the brand name Corus, with the aim of consolidating its position at the forefront of technology and innovation supporting dentists in the ongoing modernization and digital transformation of the industry. As part of its strategy, the company seeks to integrate local entrepreneurs who then become shareholders in the company, maintaining the highest level of service locally to their existing clients. Corus works as an integrated digital platform where dentists can interact with the local laboratory and the patient at the same time guaranteeing the traceability of the prescription and information necessary to make the products and services tailored to the patient. This, along with the integration of the wider network of laboratories, offers a global solution based on an innovative and differentiated portfolio of protocols of work, products, services, training and education while maintaining a local and personal environment., thus ensuring a better patient dental care and experience (more about the company’s strategy in Annex 2).
Corus and Signadens reached a consolidated size of €100M revenue as of the end of 2021. With 49 laboratories and over 1,200 employees they both serve more than 9,000 dental practices spread across Spain, France, Netherlands, Belgium and Portugal (see Annex 1). Following the integration, the company plans to grow its revenue to a total of circa €150M in 2022 by combining organic growth and the consolidation of more laboratories, both in current regions and further afield. In addition, both current private equity investors Careventures and Quadrum Capital have committed to continue their support through the company´s plans of future growth.
Nicolas Bonnard, co-CEO at Corus, said: “I am very enthusiastic to take on the challenge of leading and further developing our company with highly talented entrepreneurial partners and an excellent team of experienced managers. Corus, in collaboration with dentists, is driving the paradigm shift in the new era of dentistry: digital, personalized and high value-add for the dentist and for the patient. Based on our company’s structure, where all laboratories own shares in the group, we are in a great position to deliver excellent services and products to our customers in the most efficient way.”
Jeroen Van Asten, co-CEO at Corus, added: “The European dental prosthesis market is undergoing a process of consolidation and profound change thanks to digitalization. We want to be at the forefront of this transformation in the coming years through the integration of leading laboratories and capitalize on the group’s capacity for innovation. We look forward to further expanding our products and services across the European market where we see huge potential. Countries such as Germany, the UK or Italy present our company with a big opportunity.
Juan Roma, partner at Careventures and executive President of Corus, added: “At Corus we are committed to the European development of the Company. The confidence, talent and results we have achieved over the last few years are testament of the success of our work. The joining of forces with Signadens highly strengthens our position as a leader in the market. In addition, with the leadership of both Nicolas and Jeroen, I have no doubt that we will continue to succeed as we see Corus continue to grow across new jurisdictions.”
Advisors on the deal where Deloitte on the Financial DD support and BakerMckenzie, Houthoff, Broseta and Atlas.
Corus is the leading European company in cutting-edge dental prostheses and orthodontics headquartered in Barcelona. Founded in 2015, Corus is immersed in the paradigm shift towards a new dentistry, 100% digitized, personalized and with added value for the patient. Since its creation, Corus has integrated 37 dental prosthesis laboratories distributed between Spain, France and Portugal, with a team of more than 920 professionals, offering to dentists differentiating and exclusive protocols, products and services.
Signadens was created in 2016 as a collaborative initiative of independent dental technicians to realise a high-quality label in dental care “Certified by Signadens” by: (i) Investing in automation and digitalization of activities; (ii) Relieving dental technicians through centralization of non-dental activities; (iii) Bundling purchasing volume and jointly realize economies of scale. In December 2020, the Dutch mid-market Private Equity Quadrum Capital acquired c.60% of the company to implement a build-and-buy strategy to consolidate the dental lab market in Benelux and Germany.