Nobel Biocare to be acquired by Danaher

Nobel Biocare has announced that it will become part of Danaher's dental division after agreeing to be acquired by the larger business.

The deal, which is valued at two billion Swiss francs (1.32 billion pounds), will see Nobel Biocare become a cornerstone of the Danaher dental platform, giving the firm a leading position in the dental implants market.

Nobel Biocare will operate as a standalone organisation within the business, retaining its own brand and identity. Its existing production sites and headquarters in Switzerland will also be retained.

The firm's board of directors has decided unanimously to recommend that Nobel Biocare's shareholders accept the deal, with the offer period expected to start on or around October 16th. It is scheduled for completion by late 2014 or early 2015.

Richard Laube, chief executive officer of Nobel Biocare, said: "The Nobel Biocare team is looking forward to working with Danaher as it offers the opportunity to significantly accelerate our growth and contribute to Danaher's leading dental platform."

During the second quarter of 2014, the company experienced a year-on-year revenue increase of 2.5 percent on a constant exchange rate basis, while making further progress with its corporate restructuring.