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Friday, February 23, 2024

Baker advises Corus on its integration agreement with Signadens

Baker McKenzie has advised dental laboratory group Corus (Careventures PE Fund) on its agreement to join forces with Signadens, a reference laboratory group in the Netherlands and Belgium

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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 €100 million 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.

Advisors on the deal where Deloitte on the Financial DD support and BakerMckenzie, Houthoff, Broseta and Atlas.

Baker McKenzie advised Corus (Careventures PE Fund) with a Barcelona office team led by Javier Menor, head of the firm´s Corporate/M&A practice group and managing partner of the Baker McKenzie Barcelona office, together with lawyer Gerard Giménez.

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