Dentsply to buy Astra Tech from AstraZeneca

Dentsply has agreed a deal to purchase the leading dental implant product manufacturer Astra Tech from its current owner AstraZeneca.

The $1.8 billion (1.2 billion pounds) deal will combine two of the world's fastest-growing dental implant companies and create the third-largest business of its kind in the world.

Composed of the Astra Tech Dental and Astra Tech Healthcare divisions, the company generated worldwide revenue of $535 million in 2010 and offers product lines such as Atlantis and LoFric.

It is being sold by AstraZeneca as the drug development firm seeks to increase its focus on its core pharmaceuticals business.

David Brennan, chief executive officer of AstraZeneca, said the sales process has been highly competitive, with numerous firms expressing interest in a buyout due to the value of the Astra Tech business.

His Dentsply counterpart Bret Wise added: "We look forward to welcoming our new associates and together we will continue to focus on bringing highly innovative, clinically supported opportunities to dental, urology and surgical professionals around the world."