Nobel Biocare CEO aims for growth, not M&A: paper
ZURICH (Reuters) - Swiss dental implant maker Nobel Biocare Holding AG NOBN.VX is hoping to grow at a high single-or low double-digit rate, its chief executive was quoted as saying on Sunday.
The economic downturn has caused patients to put off pricey dental work, hurting implant makers like Nobel Biocare and rival Straumann Holding AG (STMN.S: Quote). The firm's screw-in prosthetic teeth can cost thousands of francs apiece.
"If we do everything right and the economy improves, it would be possible that we grow twice as fast as the sector average," CEO Richard Laube told the SonntagsZeitung in response to a question about where Nobel Biocare would be in five years' time.
"In concrete terms, I think growth in the upper single digit or even in the lower double digit realm is realistic."
In response to a question about whether Nobel Biocare would remain autonomous, Laube said the board was not currently involved in any talks on acquisitions or a buyout of the company.
"We ourselves have looked at takeovers but came to the conclusion that you'd not make any money with them," he said. "But consolidation in the sector will go ahead without us."
Laube also said he would work for the firm beyond 2014, if the board wished him to continue.
(Reporting by Catherine Bosley; editing by Patrick Graham)
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