Envista Holdings Corporation (NVST) is a global provider of dental products and services, focusing on the diagnosis, treatment, and prevention of dental diseases and conditions, as well as enhancing dental aesthetics. The company offers a wide range of innovative dental consumables, technologies, and services to support dental professionals in delivering high-quality patient care. Envista operates in over 130 countries, providing solutions that cater to various clinical needs through its extensive portfolio of trusted dental brands.
- Specialty Products & Technologies - Offers dental implant systems, regenerative solutions, dental prosthetics, orthodontic bracket systems, aligners, and lab products, along with associated treatment software and technologies.
- Equipment & Consumables - Provides dental equipment and supplies used in dental offices, including digital imaging systems, software, visualization/magnification systems, endodontic systems, restorative materials, rotary burs, impression materials, bonding agents, cements, and infection prevention products.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Paul Keel ExecutiveBoard | President and Chief Executive Officer | Paul Keel is the CEO of Envista Holdings Corporation (NVST) since May 1, 2024, and previously served as CEO of Smiths Group plc from May 2021 to March 2024. | View Report → | |
Eric Hammes Executive | Senior Vice President and Chief Financial Officer (Principal Financial Officer) | Eric Hammes has over 25 years of financial and operational leadership experience and joined NVST as CFO in August 2024. He has held key roles at companies including 3M and Rockwell Automation, driving financial and operational improvements across global businesses. | ||
Mark E. Nance Executive | Senior Vice President, General Counsel, and Secretary | Mark E. Nance has served as Senior Vice President, General Counsel, and Secretary of NVST since September 2019. Previously, he was the Chief Legal Officer at INSYS Therapeutics, Inc. from October 2018 to July 2019 and served as Special Advisor at FIPRA International, Ltd. from July 2017 to July 2019. | ||
Mischa M. Reis Executive | Senior Vice President, Strategy and Corporate Development | Mischa M. Reis has been the Senior Vice President, Strategy and Corporate Development at NVST since September 2019 and has played a key role in shaping the company’s strategic initiatives. Previously, he served as Vice President, Business Development & Strategy at Danaher's Dental business from October 2012. | ||
Robert Befidi Executive | President, Diagnostics | Robert Befidi is President, Diagnostics at NVST since August 2023 and previously held senior roles at 3M from 2018 to 2023. | ||
Stefan Nilsson Executive | President of Nobel Biocare | Stefan Nilsson is the President of Nobel Biocare at Envista Holdings Corporation since July 15, 2024. Previously, he served as CEO at Colosseum Dental Group from July 2018 to May 2023 and at GrandVision Brazil from 2015 to 2018. | ||
Veronica Acurio Executive | President, Orthodontics | Veronica Acurio is the President of Orthodontics at NVST, leading the Ormco business focused on innovation in orthodontics since August 2, 2024. Prior to joining NVST, she held executive roles at 3M Company and Solventum Corporation. | ||
Barbara Hulit Board | Director | Director at Novanta Inc.; Director at PACCAR Inc. | Barbara Hulit has been Director at NVST since 2021 and does not serve on any board committees; she has previously held executive roles such as President and CEO of the Advanced Healthcare Solutions Segment at Fortive Corporation and holds board positions at Novanta Inc. and PACCAR Inc. | |
Christine Tsingos Board | Director | Member of the Board of Directors at Onto Innovation Inc.; Member of the Board of Directors at Varex Imaging Corporation | Director at NVST since 2019, serving on multiple board committees including Audit (Chair), Compensation, and Finance. Previously served as EVP and CFO at Bio-Rad Laboratories, Inc. from 2002 to May 2019. | |
Daniel A. Raskas Board | Director | Daniel A. Raskas has been a Director at NVST since 2019 and serves on the Compensation and Finance Committees. Previously, he held executive roles at Danaher Corporation as Senior Vice President and Vice President of Corporate Development, and served as Managing Director at Thayer Capital Partners. | ||
J. Andrew Pierce Board | Board of Directors Member | Group President, MedSurg & Neurotechnology at Stryker Corporation | J. Andrew Pierce was elected to the Board of Directors of Envista Holdings Corporation effective July 14, 2025 and serves on its Audit Committee. He has also held executive roles at Stryker Corporation, including Group President, MedSurg & Neurotechnology since August 2019. | |
Kieran T. Gallahue Board | Director at NVST | Director at Edwards Lifesciences Corp | Kieran T. Gallahue has been a director at NVST since 2019 and serves as the Chair of the Nominating and Governance Committee. He has extensive leadership experience, having served as CEO and Chairman at CareFusion Corporation and as President, CEO, and Director at ResMed, Inc., and he continues to serve on the board of Edwards Lifesciences Corp. | |
Scott Huennekens Board | Chairman of the Board | Board member of Hyperfine, Inc. | Scott Huennekens serves as the independent Chairman of the Board at NVST since February 13, 2025 and has been a director since at least February 2024. He previously held CEO roles at Verb Surgical, Inc. (2015–2019), Volcano Corporation (2002–2015), and Digirad Corporation (1999–2002). | |
Vivek Jain Board | Director | CEO and Chairman of the Board at ICU Medical, Inc. | Vivek Jain has been a Director at NVST since 2020, serving as an Independent Director on the Audit and Finance Committees. He also serves as CEO and Chairman of the Board at ICU Medical, Inc. since February 2014. | |
Wendy Carruthers Board | Director | Wendy Carruthers has been an independent director at NVST since 2019, serving as Chair of the Compensation Committee and a member of the Nominating and Governance Committee. Previously, she held executive roles at Boston Scientific Corporation, including Executive Vice President of Human Resources from February 2022 to February 2025. |
- Given the reported 20% to 30% decline in China’s brackets and wires business in H1, can you break down the key drivers of this drop and explain what specific corrective measures are in place ahead of VBP implementation?
- With tariffs expected to cost approximately $15–20 million in H2 and having already impacted margins in Q2, how resilient is your mitigation plan if U.S. tariff policies abruptly shift, and what would be the expected margin implications?
- You mentioned that local manufacturing in China did not influence the first implant VBP; could you elaborate on how this new infrastructure might enhance your competitive position in future VBP rounds and affect pricing dynamics?
- Spark’s path to turning EBIT positive in the second half, supported by nearly 20% year-over-year unit cost reductions, is encouraging—what specific milestones will you use to measure sustained progress, and how might market volatility affect these cost improvements?
- The updated EPS guidance reflects benefits from share buybacks and a reduced tax rate from 37% to 33%; can you detail how much of the EPS uplift is driven by core operational improvements compared to financial adjustments, and what risks might undermine these gains?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Henry Schein | Major distributor | All | Approx. 10% of $2,510.6 million in 2024 ($251.1 million) ; 10% in 2023 ; 11% in 2022. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Osteogenics Biomedical Inc., Allotech LLC, and OBI Biologics, Inc. | 2022 | The acquisition was completed for approximately $128.2 million, including a mix of cash, receivables, inventory, intangible assets, and goodwill ($77.5 million), and is intended to bolster Envista’s implant and regenerative solutions portfolio with products under the Cytoplast™ brand. |
Carestream Dental Technology Parent Limited's Intraoral Scanner Business | 2022 | Completed for about $580.0 million (including $7.5 million contingent consideration), this deal—accompanied by $370.6 million in goodwill—was strategically aimed at enhancing Envista’s digitization of dental workflows by integrating leading intraoral scanner technology rebranded as DEXIS, while excluding imaging and practice management segments. |
Recent press releases and 8-K filings for NVST.
- CEO Paul Keel reported that Envista's strategic thesis has largely played out as expected, despite macro uncertainty in Q1 2025.
- The company's orthodontics business is the fastest growing, and consumables are performing well, while the diagnostics segment remains in contraction.
- Envista has invested an additional $25 million to accelerate growth in high-margin areas, leading to four consecutive quarters of accelerating growth in its premium implants business.
- The Spark clear aligner business is projected to achieve EBIT positive status in the second half of 2025, supported by 20 consecutive quarters of sequential unit cost reduction through automation.
- Envista is actively mitigating tariff impacts by leveraging its global manufacturing flexibility and implementing price adjustments, having secured 1 point of price in Q1 2025.