AstraZeneca (NYSE:AZN) is nearing a deal to sell its dental implants and medical devices unit Astra Tech to Dentsply International for about $1.8 billion, according to a report by Reuters, citing a person close to the matter.
The U.S. dental company reportedly beat bids from rivals and private equity firms and has gained exclusivity to negotiate the deal, according to the source.
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With $535 million in sales last year, Astra Tech has become the worlds third-largest dental implants maker. Its separate medical device arm focuses primarily on urology and surgery.
A deal could be inked as soon as this week, according to the report.