CDPQ invests USD 113 million to support the growth of Carestream Dental
Today, Caisse de dépôt et placement du Québec (CDPQ) announced that it has provided a total of USD 113 million of loans to Carestream Dental, a leading developer, manufacturer and marketer of imaging systems and practice management software for general and specialist dental offices globally. CDPQ is collaborating in the financing under the leadership of Carestream Dental’s majority owners Clayton, Dubilier & Rice (CD&R), a private investment firm, with which CDPQ has been partnered since 2004.
“Carestream Dental’s offering responds to core demands in the health industry, including the need for faster and more efficient services from dental health professionals. With the industry’s ongoing transition to digital dental health records and images, Carestream is a company well-positioned to succeed and expand across markets,” said Marc Cormier, Executive Vice-President, Fixed Income at CDPQ. “By collaborating with CD&R – a reliable and experienced partner to CDPQ – we’re continuing our strategy of investing with the best industry players to generate long-term value.”
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Carestream Dental’s products are used by seven out of ten practitioners in the dental health sector, and deliver more precise diagnoses, improved workflows and superior patient care. The company, which has 1,500 employees worldwide, was recently purchased by a group led by CD&R, which will support the company as it expands its products and services to new markets.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2017, it held $286.5 billion in net assets. As one of Canada's leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
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