No. 1 Player in Global Oral Scanner Market
MBK Partners, the No. 1 private equity fund (PEF) in Northeast Asia, will acquire Medit, the No. 1 oral scanner company in the world.
MBK signed a contract to acquire 99.5% of the Medit shares held by Unison Capital Korea (UCK), the largest shareholder of Medit, and the company’s founder and related parties. The sale price is about 2.4 trillion won, and it is known that the founder of Medit, Jang Min-ho, and related parties will reinvest a significant portion of the proceeds from the stake sale.
MBK is known to have structured the acquisition in the form of investing about 1 trillion won in MBK Partners No. 5 Fund. Closing of the transaction is expected at the end of the first quarter of 2023.
Medit is the global No. 1 company in the intraoral scanner solution field, and its global market share rose from 22% last year to 24% this year. The intraoral scanner market was an oligopoly in which five companies, including Medit, secured a market share of over 85%. However, the market is expected to change to a two-runner system.
Medit, which has entered the intraoral scanner market in earnest since 2018, has established sales channel subsidiaries in the United States, Germany, and China, and has 230 dealerships in over100 countries around the world.
Meanwhile, Medit's sales last year were 190.5 billion won and EBITDA were 105.9 billion won, and this year's sales and EBITDA are expected to increase by more than 40% year-on-year to 270 billion won and 150 billion won, respectively.