Dentsply buys Astra Tech for $1.8 billion
Dentsply International has announced it has signed a definitive agreement to acquire dental implants experts, Astra Tech, from AstraZeneca for approximately £1.1 billion.
This transaction combines two of the fastest growing dental implant businesses, creating a strong global competitor with a number three market position.
In a news release, Dentsply reports that: ‘This transaction strengthens Dentsply’s leadership position in the global dental market and is expected to be immediately accretive to Dentsply’s adjusted earnings per share.
‘Astra Tech, a subsidiary of AstraZeneca, is a leading developer, manufacturer and marketer of dental implants, customised implant abutments and consumable medical devices in the urology and surgery market segments.
‘Astra Tech, which recorded worldwide revenue of $535 million in 2010, operates through two divisions: Astra Tech Dental and Astra Tech Healthcare.
‘Astra Tech Dental offers a comprehensive portfolio of clinically supported dental implants and abutments.
‘Consistent with Dentsply’s core strategies, Astra Tech’s focus on clinical research support for its products has helped position it as one of the most respected dental implant brands.
‘Astra Tech Dental’s Atlantis business is a leading provider of CAD/CAM customised implant abutments.’
Bret Wise, Dentsply’s chairman and chief executive officer, said: ‘Astra Tech provides a dynamic opportunity for Dentsply in several areas. The combination more than doubles our position in dental implants while expanding the breadth of our portfolio in this growing segment of dentistry.’