The Corus group of dental laboratories, specialized in prosthetics and orthodontics, buys the Scandinavian company Nordentic. The operation, of which the figure has not been disclosed, will allow it to add a business of 40 million euros, 13 laboratories and activity in Sweden, Norway and Denmark. In total, the forecast is to close the year with a turnover of 180 million euros between organic growth and acquisitions. It is more than double that of the previous year, thanks to the popularity of the sector.
Founded in 2015, Corus shares headquarters between Barcelona and Amersfoort, the Netherlands. The integration of laboratories throughout Europe is proposed to combine technologies and digitize processes in a fragmented sector, betting on digitization. Behind it is the support of the Careventures fund and the investment firm Quadrum Capital. Nordentic's is the first foray into the Scandinavian region, as it has so far operated in Spain, France, Portugal, the Netherlands and Belgium. "By working together we will be able to consolidate our position as leaders in advanced digital dentistry in Europe," says Nicolas Bonnard, co-CEO.
The company gains size. In addition to the jump in billing, it will reach 63 laboratories and 1,500 employees. It will take its services to some 12,000 dental consultations, to which it offers protocols, products –implants, invisible orthodontics, splints for nocturnal bruxism...–, services, training and education. With this model, it becomes a digital platform where dentists can interact with laboratories and the patient. Thus, better attention and follow-up is achieved, it is stated.
Looking to the future, it seeks to maintain the pace of growth, open to more acquisitions. "We continue to work for further expansion in Europe," says Bonnard. Always, yes, without forgetting the clinic approach with local roots for the client.
Once the purchase is completed, the directors and owners of the 13 acquired laboratories will become shareholders in Corus, while the investor Adelis leaves Nordentic. The integration will also mean the incorporation of Johnny Tekin, until now CEO of Nordentic, in the Corus executive, with responsibility for the Scandinavian region.
In the operation, the Barcelona-based firm has been advised by Deloitte Corporate Finance, Baker McKenzie and Alvarez
