TCW Fund Sees Envista Growth From Demand and Cost Cuts

The TCW Relative Value Mid Cap Fund added Envista Holdings to its portfolio in the second quarter of 2026. It cited improving dental demand, expansion into new markets and restructuring as potential growth drivers.

The fund described Envista as a dental products company whose offerings include implants, imaging systems, treatment software and aligners. It said the company’s portfolio spans more than 30 brands and covers an estimated 90% of dentist-office clinical needs.

Envista is expanding its Spark clear aligner system into Japan, where the market opportunity is estimated at $300 million. Management believes Spark can capture a high-single-digit share there, similar to Envista’s global share in aligners, the fund said.

The fund said Envista’s value creation plan focuses on growth, operations and people. It includes streamlining operations, reducing general and administrative costs, and shifting toward higher-growth segments.

TCW said the company’s restructuring is supported by the Envista Business System, which it described as derived from Danaher’s business system. The fund expects improving dental demand, market expansion and leaner operations to help Envista improve margins, earnings and cash flow over the next few years.