Carestream Dental Technology Parent Limited (Carestream Dental), a global frontrunner in digital solutions for oral healthcare, has announced a significant recapitalization effort to advance its strategic innovation plans. The company has successfully raised over $525 million in new capital, led by General Atlantic Credit’s (GA Credit) Atlantic Park fund, which has provided a six-year first lien term loan. This investment establishes a new equity partnership involving GA Credit, Canyon Partners, and additional investors, while Clayton, Dubilier & Rice retains its position as a minority investor.
The primary objectives of this transaction are to substantially reduce debt, extend debt maturities, and afford Carestream Dental the financial flexibility needed for ongoing investments in technology and strategic initiatives, both organic and inorganic.
Since its inception in 2017, Carestream Dental has been committed to transforming dentistry through innovation and digital solutions. The company, which serves over one million users in more than 100 countries, provides cutting-edge oral healthcare solutions backed by expertise in engineering, operational workflow, and treatment planning. This year, Carestream Dental has introduced a new cone beam computed tomography (CBCT) system, significantly expanded its Sensei Cloud practice management software, and formed new partnerships to enhance workflow integration.
Lisa Ashby, CEO of Carestream Dental, expressed enthusiasm about the new investment, stating, “We are thrilled to partner with GA Credit, Canyon Partners, and our broader investor base as we work to build the future of oral healthcare. This transaction strengthens our financial position and enables us to continue investing in our business and customers, fostering innovation with expanded partnerships and AI integration in our solutions.”
In conjunction with the recapitalization, Carestream Dental has launched the Oral Healthcare Innovation Hub (OHIH), an initiative dedicated to revolutionizing oral healthcare. The hub will introduce the Oral Healthcare Practice 2040 at the International Dental Show (IDS) in March 2025 in Cologne, Germany.
Matthew Bonanno, Managing Director at GA Credit, highlighted Carestream Dental’s strong track record and the promising prospects of the recapitalization. “We believe this recapitalization positions Carestream Dental to capitalize on robust global market trends, invest in innovation, and achieve significant growth. We look forward to supporting Lisa and her team in realizing the company’s growth objectives.”
Financial terms of the investment were not disclosed. For more information, visit carestreamdental.com.
About Carestream Dental Carestream Dental, with over 125 years of experience, is a leader in digital dental solutions, offering three key portfolios: Carestream Dental for oral healthcare devices, Swissmeda for clinical software and services, and Sensei for practice management software and services. These portfolios connect partners and optimize workflows in the oral healthcare field. Learn more at carestreamdental.com.
About General Atlantic Credit General Atlantic Credit (GA Credit), a credit investment platform within General Atlantic, provides strategic credit partnerships and customized capital solutions. With a strong track record and approximately $83 billion in assets under management as of June 30, 2024, GA Credit offers flexible capital to high-quality companies. For more information, visit generalatlantic.com.
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