ZURICH, Switzerland, Feb. 8, 2006 (PRIMEZONE) -- Nobel Biocare (Other OTC:NBCHF) (Stockholm:NOBE), world leader in innovative esthetic dental solutions, announced today that it will establish its own subsidiaries in Moscow, Russia, and Vilnius, Lithuania by acquiring the sales operations from the existing distributor, The Chicago Center for Advanced Dentistry, for an undisclosed sum.
"With this move, Nobel Biocare is strengthening its leading position of close proximity to the market through its own subsidiaries and sales offices, now in 31 countries. Both Russia and the Baltic states have a strong base of leading dental institutions with which we can join forces for broad training and education initiatives," says Heliane Canepa, President and CEO of Nobel Biocare.
Nobel Biocare has been successfully represented by The Chicago Center for Advanced Dentistry in Russia and the Baltic since 1998 and 2001 respectively. Management and staff that have been involved in the marketing and sales of Nobel Biocare products in these markets will be joining Nobel Biocare, thus ensuring seamless business continuity and customer service in these markets.
Russia is the single largest country in Europe with a population of 150 million. The market offers substantial growth potential with its 70,000 dentists and more than 45 dental institutions involved in education. Transfer of the sales operations and respective assets to the new Russian subsidiary is expected to take place in late March 2006.
The transition in Vilnius started on 6 February 2006. The new subsidiary will provide direct sales and support to the dental communities in the three Baltic countries of Lithuania, Latvia and Estonia.
Nobel Biocare is a medical devices group and the world leader in innovative esthetic dental solutions with its brands Branemark System(r), NobelSpeedy(tm), NobelReplace(tm), NobelPerfect(r), NobelDirect(r), Replace(r) Select, (dental implants) and Procera(r) (individualized dental prosthetics). Nobel Biocare is a one-stop shop for restorative esthetic dentistry, offering a wide range of innovative Crown & Bridge and Implant products, as well as training and education and clinically documented treatment concepts. Nobel Biocare has some 1,600 employees and recorded revenue of EUR 388 million in 2004. The company is domiciled in Zurich, Switzerland with headquarters in Zurich and in Gothenburg, Sweden. Production takes place at four production sites located in Sweden and the USA. Nobel Biocare has direct sales organizations in 29 countries. The shares of the parent company Nobel Biocare Holding AG are listed on the SWX Swiss Exchange and on the Stockholm Stock Exchange, Sweden. www.nobelbiocare.com.