Tax counsel to Danaher on the separation and IPO of its dental business
Davis Polk is acting as special tax counsel to Danaher Corporation on the separation of its dental division into a new publicly traded company called Envista Holdings Corporation and the $589 million initial public offering of 26,768,000 shares of Envista common stock. The initial public offering closed on September 20, 2019 and shares of common stock are listed on the New York Stock Exchange under the symbol “NVST.”
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 healthcare, environmental and applied end-markets. As part of Danaher, Envista is a global dental products company that develops and provides a comprehensive portfolio of dental consumables, equipment and services to dental professionals covering an estimated 90% of dentists' clinical needs for diagnosing, treating and preventing dental conditions as well as improving the aesthetics of the human smile. Envista's operating companies, Nobel Biocare Systems, Ormco and KaVo Kerr, serve more than one million dentists in over 150 countries.
The Davis Polk tax team includes Managing Partner Neil Barr, partner William A. Curran and associates Elina Khodorkovsky and Lex L. Varga. All members of the Davis Polk team are based in the New York office.