Singapore-based consumer dental firm Zenyum and India’s MakeO Toothsi said on Wednesday that they were planning to merge, aiming to create what they called Asia’s leading consumer dental company spanning markets from the Middle East to Japan.
The companies said in a statement that the transaction was expected to be completed by the end of February, pending customary approvals.
They said the combined group would offer orthodontic products, including clear aligners, digital dental services and oral-care products through both online and physical channels.
“It’s a merger of equals in the sense that both businesses are operating on similar topline numbers, while being extremely complementary in terms of their respective geographies,” Zenyum said.
The companies did not disclose the financial terms, and Zenyum CEO Julian Artopé said they were unable to comment on valuation or the post-merger shareholding split.
Under the deal, Zenyum will merge into the Indian holding company MakeO, which will house the subsidiary entities, including Zenyum, the company said. The merged entity will be led by the founders of MakeO and Zenyum, it added.
Arpi Mehta will remain CEO of the joint MakeO group, while Artopé will remain CEO of Zenyum. MakeO’s headquarters in Mumbai will serve as the headquarters for the combined entity, while Zenyum’s headquarters for Southeast and North Asia operations will remain in Singapore.
The combined group will operate across countries, including Malaysia, Vietnam, Saudi Arabia, Qatar and the United Arab Emirates, in addition to India and Singapore.
“The leading markets for the joint entity are India, Taiwan, Singapore, Hong Kong and the Middle East,” Artopé told Reuters.
He added that the company expects synergies “especially on the supply chain side” and plans to leverage technology, including AI capabilities, to unlock efficiencies at larger scale.
In India, Toothsi has about 500 partner doctors and over 50 dental centres, while Zenyum has 600 doctor partners.
Following the merger, the joint entity will have close to 1,100 partner doctors and a team of 80 dental and orthodontic professionals supervising treatment planning and supporting U.S. FDA-certified products, Artopé added.
Both brands will remain independent for consumers, with Zenyum set to benefit from product upgrades and to announce innovations “over the course of the coming month” as integration proceeds, Artopé said.
On longer-term plans, Artopé said India was “one of the most attractive markets for an IPO globally” and the combined group was positioned to pursue that opportunity “in the coming years”, while it remains focused on integration and growth.
Source: Reuters.com