MIDMARK ACQUIRES PROGENY, INC

STRENGTHENS CORE MARKETS
Posted: March 24, 2009
MIDMARK ACQUIRES PROGENY™, INC. - STRENGTHENS CORE MARKETS Acquisition of leading manufacturer of radiographic imaging products will enhance Midmark’s ability to broadly deliver products that are critical to efficient patient care.
 
VERSAILLES, Ohio and LINCOLNSHIRE, Ill. – (March 24, 2009) – Midmark Corporation today announced that it has entered into an agreement to acquire Progeny™, Inc., a leading manufacturer of radiographic imaging products in the dental market. This acquisition will align Progeny’s imaging expertise with Midmark’s vision to provide innovative products to its customers in the dental market, as well as the medical and veterinary markets.
 
“Midmark is a global leader in the markets we serve,” said Anne Eiting Klamar, president and CEO of Midmark. ”Together, Progeny and Midmark create a company with genuine global market presence known for innovation and world-class customer support. Progeny’s top quality equipment will allow us to expand our line of products that are critical to the delivery of efficient patient care,” continued Klamar. 
 
As the demands of the modern dental office are changing, and as technology, imaging and dental equipment continue to become more complex, this partnership allows the capability of addressing the myriad issues confronting the dental clinician of today and of the future.
 
“This acquisition is a game-changer for both Progeny and for Midmark and offers dental customers one company with significant products and resources. Progeny brings the leading dental imaging intraoral x-ray products, and Midmark has been growing steadily in the dental industry for the last decade,” said Eric Shirley, Midmark vice president and general manager, dental division. “In addition, Progeny’s strong reputation is in line with Midmark’s own values and vision.”
 
Ed McDonough, Progeny’s founder and president, will join Midmark as vice president and general manager of its newly created imaging division and will continue to lead the Lincolnshire, Illinois-based team. Ed brings many years of experience and success to guide the successful development and implementation of imaging technology to all of Midmark’s global markets.  
“I am thrilled to join forces with Midmark and to have the opportunity to lead Midmark’s important, new strategic platform based on imaging products,” said McDonough. “Midmark’s ambitious growth plans and focus on innovative, high quality products align perfectly with Progeny’s strategy to become the brand of choice for dental imaging equipment. I am confident that, in combination with Midmark, the worldwide opportunities will be enormous.” 
  
 
Progeny took its lead position in the dental market quickly, having only entered the dental market in 2002. In addition to intraoral x-ray products, Progeny manufactures digital imaging sensors, intra-oral cameras and the software used to integrate these various images into a patient’s electronic record. Progeny employs approximately 75 teammates.
  About Midmark
 
The most trusted name in the field of medical, dental and veterinary examination and procedure equipment, Midmark Corporation is dedicated to helping healthcare providers deliver the most efficient patient care. The company’s full line of high-quality products for the medical, dental and veterinary markets helps practices improve the patient experience while improving safety, productivity and profitability. As the healthcare industry evolves, Midmark continues to focus on developing quality products with an emphasis on listening to doctors, dentists, veterinarians and patients to determine ways to help increase the quality and efficiency of patient care. Headquartered in Versailles, Ohio, Midmark also has subsidiaries in Gardena, California; Orchard Park, New York; Glasgow, Kentucky; Tampa, Florida, Lincolnshire, Illinois and Ernee, France. For more information about Midmark, visit the company’s Web site at http://www.midmark.com.
 
 
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