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.
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.