Private equity firms Bridgepoint, Cinven, PAI Partners and Warburg Pincus had all joined the first round of bidding for AstraZeneca’s dental implants and medical devices division Astra Tech, Reuters reported, citing a report by the Mail on Sunday newspaper. The firms are competing with U.S. orthopaedic devices maker Zimmer for the unit. The sale is expected to fetch about 1.3 billion pounds ($2.1 billion).
(Reuters) Private equity firms and U.S. orthopaedic devices maker Zimmer are among the bidders for AstraZeneca’s dental implants and medical devices division Astra Tech, the Mail on Sunday newspaper reported.
The paper, without citing sources, said private equity firms Bridgepoint, Cinven, PAI Partners and Warburg Pincus had all joined the first round of bidding in an auction expected to fetch around 1.3 billion pounds ($2.1 billion).
Second round bids are expected towards the end of this month, it added.
People familiar with the matter told Reuters in February around 20 bidders were readying offers for all or parts of Astra Tech.
None of the parties mentioned could immediately be reached for comment.
(Reporting by Mark Potter; Editing by Mike Nesbit)
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