3M announced Thursday that it had signed a definitive agreement to acquire IMTEC Corporation. Terms of the transaction were not disclosed.
IMTEC Corporation designs, develops, manufactures and markets a range of dental specialty products for the global dental market and has its headquarters in Ardmore.
Plans call for IMTEC headquarters to remain in Ardmore. The company employs approximately 230 people at its operations in Ardmore, Los Alamos, N.M. and Boulder, Colo.
Dr. Ron Bulard, DDS, and IMTEC president and chief executive officer, announced the sale to company employees Thursday morning.
“We want to insure a seamless transition. It’s business as usual for IMTEC,” he said. “It a great thing for the City of Ardmore and the State of Oklahoma.”
“Our partnership provides resources we need to grow in the dental field,” said Tim Thompson, IMTEC general manager.
Jeff Lavers, vice president and general manager of 3M’s dental division, met with IMTEC employees to answer questions about the sale.
“We think there are great expansion opportunities,” he said. “We are looking at this as an opportunity to grow and grow rapidly.”
IMTEC’s primary focus is on dental applications and the development of new technology to simplify dentistry. The company is best known for its mini dental implants, which are small-diameter, single-unit dental implants that don’t require invasive surgery, which means bone trauma is minimal and patient discomfort is limited. Dental implants are fast becoming a standard of care for dentistry. IMTEC also builds three-dimensional scanning equipment for dental and medical radiology.
With $24 billion in annual sales, 3M is a recognized leader in research and development, and is one of the world’s largest suppliers to the dental industry. The company manufactures and markets a wide range of products and services used by dentists worldwide.
“We are looking forward to the reputation, resources and worldwide reach that 3M brings to help us build this business,” Bulard said.
Wes Stucky, president of the Ardmore Development Authority and the Ardmore Chamber of Commerce, said Thursday he believes the sale is beneficial to the community.
“It brings an internationally-recognized and respected company into our corporate fold. IMTEC’s potential will be more easily and more rapidly reached with the infusion of capital and 3M’s support network that embraces innovation,” he said. “We also know that further potential from other 3M subsidiaries exist, and I will be meeting with corporate officials in the coming weeks to discuss expansion and attraction opportunities.”
Bulard and Dr. E.S. Gillespie founded IMTEC in 1990. The sale is expected to close sometime in the third quarter.
Steve Biehn, 221-6546
steve.biehn@ardmoreite.com
