Dental Firm vVardis Files for US IPO Showing Narrowing Loss
(Bloomberg) — Dental technology firm vVardis Holding AG filed for a US initial public offering, showing rising revenue and narrower losses.
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, versus a net loss of $32.1 million on revenue of $9.1 million for the corresponding period a year before, according to a filing Friday with the US Securities and Exchange Commission.
The company’s flagship Curodont products treating early-stage tooth cavities without the need for drilling have been sold to more than 20,000 dental practices since being launched commercially in the US in 2024, the filing shows. Curodont Repair Fluoride Plus generates the majority of vVardis’ revenue.
vVardis was valued at more than $1 billion in a funding round in April and will likely seek a higher valuation than that in an IPO, Bloomberg News reported in June.
Curodont products penetrate the tooth’s enamel, enabling minerals in the patient’s saliva to repair the tooth from within. They can be particularly effective with children’s cavities and used instead of waiting for smaller cavities to increase in size.
After the IPO, founders and Haley and Goly Abivardi will continue to hold the majority of shareholder voting power through their holdings of supervoting Class B shares, according to the filing.
The Abivardi sisters are both dentists, and previously ran dental clinics in Switzerland before selling the chain and acquiring the intellectual property that underpins the company.
vVardis’ other investors include Cerebro Equity, affiliates of Apollo Global Management Inc., KKR & Co.-backed Heartland Dental and healthcare investment firm OrbiMed Advisors.
The offering is being led by Goldman Sachs Group Inc. and JPMorgan Chase & Co. The company expects its shares to trade on the New York Stock Exchange under the symbol VVVV.
–With assistance from Liana Baker and Michelle F. Davis.
(Updates with context in third paragraph.)
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