WASHINGTON, June 27, 2019 /PRNewswire/ -- Danaher
Corporation (NYSE: DHR) ("Danaher") today announced that Envista
Holdings Corporation ("Envista" or the "Company") will be the name
of the separate company Danaher intends to create and take public
via an initial public offering in the second half of 2019.
Envista will be comprised of three operating companies within
Danaher's Dental segment: Nobel Biocare Systems, KaVo Kerr, and Ormco. These businesses have
significant positions in dental implants, orthodontics, dental
equipment and consumables, and include brands such as Nobel
Biocare, KaVo, Kerr, i-CAT, Dexis, Metrex, Pelton & Crane,
Ormco, Implant Direct, and Orascoptic. Envista will be led by Amir
Aghdaei, who will become President and Chief Executive Officer. Mr.
Aghdaei currently serves as Danaher Group Executive with
responsibility for the Dental segment.
Mr. Aghdaei stated, "Envista's name is a combination of two
Latin root words: 'en', a prefix meaning to be within, and 'vista',
meaning a view. Our logo of concentric circles represents our
ability to collaboratively achieve endless possibilities ahead. The
Envista brand reflects the forward-looking energy that embodies our
company culture."
Aghdaei continued, "Envista's culture will be built on four core
values: 'Better Choices, Better Outcomes,' 'Relationships Built on
Trust,' 'Innovation in Action,' and 'Continuous Improvement as a
Competitive Advantage.' Our Danaher heritage helped us shape these
values and serves as a strong foundation for our business. The
Envista Business System, which will be based on the Danaher
Business System, will be our common operating model."
Envista intends to apply to list its common stock on the New
York Stock Exchange. The stock symbol will be NVST.
Envista will employ 12,000 people worldwide. The company's
website is www.envistaco.com.
NOT AN OFFER OF ANY SECURITIES
The information in this communication is for informational
purposes only and shall not constitute, or form a part of, an offer
to sell or the solicitation of an offer to sell or the solicitation
of an offer to buy any securities.
ABOUT DANAHER
Danaher is a global science and technology innovator committed
to helping its customers solve complex challenges and improving
quality of life around the world. Its family of world class brands
has leadership positions in the demanding and attractive health
care, environmental and applied end-markets. With more than 20
operating companies, Danaher's globally diverse team of
approximately 71,000 associates is united by a common culture and
operating system, the Danaher Business System, and our Shared
Purpose, Helping Realize Life's Potential. For more
information, please visit www.danaher.com.
FORWARD-LOOKING STATEMENTS
Statements in this release that are not strictly historical,
including the statements regarding the anticipated initial public
offering of Envista, Envista's leadership, strategy, prospects and
business plans, and any other statements regarding events or
developments that we believe or anticipate will or may occur in the
future are "forward-looking" statements within the meaning of the
federal securities laws. There are a number of important factors
that could cause actual results, developments and business
decisions to differ materially from those suggested or indicated by
such forward-looking statements and you should not place undue
reliance on any such forward-looking statements. These
factors include, among other things, the ability to complete the
initial public offering of Envista on the currently contemplated
timeline or at all and achieve the intended benefits thereof,
deterioration of or instability in the economy, the markets served
by us and the financial markets, developments and uncertainties in
U.S. policy stemming from the U.S. administration, such as changes
in U.S. trade and tariff policies and the reaction of other
countries thereto, contractions or growth rates and cyclicality of
markets we serve, competition, our ability to develop and
successfully market new products and technologies and expand into
new markets, the potential for improper conduct by our employees,
agents or business partners, our compliance with applicable laws
and regulations (including regulations relating to medical devices
and the health care industry), the results of our clinical trials
and perceptions thereof, our ability to effectively address cost
reductions and other changes in the health care industry, our
ability to successfully identify and consummate appropriate
acquisitions and strategic investments and successfully complete
divestitures and other dispositions, our ability to integrate the
businesses we acquire and achieve the anticipated benefits of such
acquisitions, contingent liabilities relating to acquisitions,
investments and divestitures (including tax-related and other
contingent liabilities relating to past and future IPOs, split-offs
or spin-offs), security breaches or other disruptions of our
information technology systems or violations of data privacy laws,
the impact of our restructuring activities on our ability to grow,
risks relating to potential impairment of goodwill and other
intangible assets, currency exchange rates, tax audits and changes
in our tax rate and income tax liabilities, changes in tax laws
applicable to multinational companies, litigation and other
contingent liabilities including intellectual property and
environmental, health and safety matters, the rights of
the United States government to
use, disclose and license certain intellectual property we license
if we fail to commercialize it, risks relating to product, service
or software defects, product liability and recalls, risks relating
to product manufacturing, the impact of our debt obligations on our
operations and liquidity, our relationships with and the
performance of our channel partners, uncertainties relating to
collaboration arrangements with third-parties, commodity costs and
surcharges, our ability to adjust purchases and manufacturing
capacity to reflect market conditions, reliance on sole sources of
supply, the impact of deregulation on demand for our products and
services, labor matters, international economic, political, legal,
compliance and business factors (including the impact of the
United Kingdom's decision to leave
the EU and uncertainty relating to the terms and timing of such
separation), disruptions relating to man-made and natural disasters
and pension plan costs. Additional information regarding the
factors that may cause actual results to differ materially from
these forward-looking statements is available in Danaher's SEC
filings, including our 2018 Annual Report on Form 10-K and
Quarterly Report on Form 10-Q for the first quarter of 2019. These
forward-looking statements speak only as of the date of this press
release, and except to the extent required by applicable law,
Danaher and the Company do not assume any obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events and developments or otherwise.
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SOURCE Danaher Corporation