Oct 9 (Reuters) – Dental firm vVardis on Friday revealed a more than threefold rise in first-half revenue in its filing for an initial public offering in the US.
Here are some more details:
• The Zug, Switzerland-based company had a net loss of $27.8 million on revenue of $28.6 million for the six months ended June 30 2026, compared to a net loss of $32.1 million on revenue of $9.1 million, a year ago.
• vVardis, founded by dentists and sisters Haley Abivardi and Goly Abivardi, develops non-invasive treatments for early-stage cavities.
• The filing comes as the US IPO market remains selective after a strong start to the year, with investors scrutinizing valuations more closely.
• However, analysts say healthcare and pharmaceutical companies have remained largely insulated from broader macroeconomic uncertainty.
• Medical device maker Centinel Spine also filed for an IPO on Wednesday.
• vVardis said its products had been sold to more than 20,000 of the roughly 110,000 general dental practices in the United States as of June 30.
• It counts healthcare investor OrbiMed, Heartland Dental and affiliates of Apollo Global Management among its backers.
• It plans to use IPO proceeds for purposes that include working capital, operating expenses and capital expenditures.
• Goldman Sachs, J.P. Morgan, William Blair, UBS Investment Bank, Deutsche Bank Securities, Apollo Global Securities are the underwriters for the offering.
• It plans to list its shares on NYSE under the symbol “VVVV”.
(Reporting by Pragyan Kalita in Bengaluru)
