Dentsply International beat out a number of private equity firms to buy AstraZeneca’s dental implants and medical devices unit, Reuters reported. Dentsply is paying $1.8 billion in cash for the unit, Astra Tech. The unit, with revenue last year of $535 million, is the third largest dental implants maker in the world, Reuters said. A number of prominent firms were interested in buying Astra Tech, including Bridgepoint, Cinven, PAI Partners and Warburg Pincus.
(Reuters) – Drugmaker AstraZeneca said on Wednesday it would sell its dental implants and medical devices unit Astra Tech to Dentsply International $1.8 billion in cash.
The U.S. dental company beat bids from rival medtech groups and private equity firms to gain exclusivity to negotiate a deal.
Astra Tech, which had revenue last year of $535 million, is the world’s third-largest dental implants maker after Straumann and Nobel Biocare . It has a separate medical devices arm focused principally on urology and surgery.
(Reporting by Ben Hirschler)