Medit up for sale at €2.9 billion—reports

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Medit up for sale at €2.9 billion—reports

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Major healthcare companies may be digging for gold in Seoul this month following reports that Korean oral scanner manufacturer Medit is up for sale. (Image: Joshua Davenport/Shutterstock)

SEOUL, South Korea: Leading 3D dental scanner manufacturer Medit is on the market and could fetch a price as high as KRW4 trillion (€2.97 billion), according to reports by South Korean business media outlets. Medit’s revenue from 3D oral scanners and other digital dentistry products has more than doubled since 2019, and the sale is expected to attract strong interest from healthcare giants and private equity firms.

In July, Medit’s largest shareholder Unison Capital reportedly sent letters to prospective buyers announcing the sale. The Tokyo-based private equity firm has enlisted Citigroup Global Markets to conduct the sale through limited auctions with selected buyers. Initial bidding for full ownership of Medit will begin in August, and the sale is expected to be completed in October, according to the reports.

News of the sale and its details were reported by Maeil Business News Korea and the Korea Economic Daily Global Edition, and both of the outlets cited unnamed sources within the investment banking sector. Dental Tribune International has approached Medit and Unison Capital for comment.

Medit was founded in 2000 by Minho Chang, and its scanning technology is used in dental clinics and laboratories around the world. The company sells its T-Series laboratory scanners to dental laboratories, and its Medit i700, i600 and i500 intra-oral scanners are popular with dentists.

Maeil Business News Korea said that Medit was recently valued at KRW3.2 trillion, which is around five times what it was worth in 2019 when Unison Capital paid KRW320 billion for a 51% stake in the company.

Global healthcare companies such as Straumann Group and Envista Holdings are expected to participate in the bidding together with major global and domestic private equity firms, the business news outlets said.

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