Dental equipment co TRD Instrum to raise NIS 40-50m on TASE

Sources: The company posted a profit of NIS 5 million on NIS 15 million revenue in 2005.

TRD Instrum has already filed a draft prospectus with the Israel Securities Authority, and the institutional tender is scheduled for March 27.

The company and underwriters declined to comment on the report.

Capital market sources estimate that TRD Instrum posted a profit of NIS 5 million on NIS 15 million revenue in 2005. The company has pledged to distribute a NIS 4 million dividend around the time of its IPO.

TRD Instrum’s main product is called “Smartlite”, a device that uses a laser beam to harden and whiten dental filler during treatment. The company does not market the product independently, but via Dentsply International Inc. (Nasdaq:XRAY), a leading manufacturer and marketer of dental equipment.

A second TRD Instrum product is Gutta Cut, which dentists use to slice gutta percha fillings for root canal work. A number of distributors market Gutta Cut worldwide, including Gunz Dental of Australia, DentCorp, and VDW GmbH of Germany.

TRD Instrum is developing other dental products.

TRD Instrum does not market its products under its own brand, and generally keeps a low profile to the point of being underground. The company is not listed in the Golden Pages (Dapei Zahav), or in the databases of IVC Research and the Israel Life Science Industry (ILSI). It cannot be found through a Google search. It is hard to find anyone in the market who has heard about the company, including investors and advisors knowledgeable about the life sciences, and dental equipment companies.

Published by Globes [online], Israel business news - www.globes.co.il - on March 21, 2006

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