MBK Selected as Preferred Negotiation Partner for 'M&A Big Fish' Medit Acquisition... Proposes Mid-to-Late 20 Trillion Won Range

[Asia Economy Reporter Myunghwan Lee] MBK Partners has been selected as the preferred bidder for the acquisition of Medit, an oral scanner company considered a major target in this year's mergers and acquisitions (M&A) market.

According to the investment banking (IB) industry on the 29th, Unison Capital, which holds the management rights of Medit, chose MBK as the preferred bidder for the acquisition.

The sale price proposed by MBK is reported to be in the mid-to-high 20 trillion KRW range. This is somewhat lower compared to the approximately 30 trillion KRW offered earlier by the Carlyle-GS consortium.

Previously, Citi Global Markets Securities (Citi Securities), the lead manager for Medit's sale, decided not to extend the preferred negotiation rights granted to the Carlyle-GS consortium. As a result, the sale process was reset to the starting point.

Medit is a company specializing in three-dimensional (3D) dental oral scanner technology. It was founded by Minho Jang, a professor of mechanical engineering at Korea University and a Massachusetts Institute of Technology (MIT) alumnus, in 2000. Unison Capital acquired 50% plus one share of the company for about 320 billion KRW at the end of 2019.

After joining Unison Capital, Medit embarked on a growth trajectory. It established a global sales organization and aggressively expanded into overseas markets. Following its flagship product 'i500,' it launched the new product 'i700' last year. Medit currently holds approximately the third-largest market share globally in the oral scanner market.