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DENTSPLY International announced today that the purchase of implant maker Astra Tech had been completed. The purchase expands DENTSPLY's implant offerings and gives the company and its customers access to Astra Tech's Atlantis patient specific abutments.
DENTSPLY International announced today that the purchase of implant maker Astra Tech had been completed. The purchase expands DENTSPLY's implant offerings and gives the company and its customers access to Astra Tech's Atlantis patient specific abutments. It's not yet clear which DENTSPLY umbrella will end up housing Astra Tech, but DENTSPLY Tulsa currently handles the company's ANKYLOS and XiVE implant lines, while DENTSPLY Prosthetics handles the company's dental lab products, so either one might be a good fit. With Astra Tech's high profile in the industry, it also remains a possibility that the company is not rebranded at all.
Regardless of where Astra Tech is fit into the corporate structure, according to the company's press release DENTSPLY International sees the acquisition as a profitable move that keep the company at the cutting edge of the fast growing market for dental implants, and CAD/CAM production of custom parts. Whether or not this move leads to any major changes at Astra Tech or new products from the purchased company remains to be seen.
Full press release appears below.
DENTSPLY International Completes Acquisition of Astra Tech
YORK, Pa., Aug. 31, 2011 (GLOBE NEWSWIRE) -- DENTSPLY International Inc. (Nasdaq:XRAY), a global leader in professional dental products, today announced that it has completed the previously announced acquisition of Astra Tech AB, a leading provider of dental implants, customized implant abutments, and urology and surgery products, from AstraZeneca.
Bret Wise, DENTSPLY's Chairman and Chief Executive Officer, said, "We are very pleased to complete the acquisition of Astra Tech AB and welcome the Astra Tech team to DENTSPLY. This transaction provides substantial benefits to DENTSPLY, including one of the fastest growing dental implant platforms in the market and the addition of a growing and profitable healthcare device business serving urology and surgical markets. We are excited about the opportunities that our combined business will bring to our customers, employees and shareholders."
DENTSPLY anticipates this transaction will add approximately $200 million to the Company's net sales in 2011, and $600 million on an annualized basis. DENTSPLY also expects the transaction will be neutral to slightly accretive to adjusted earnings per diluted share in 2011.
Use of non-GAAP financial measures
In addition to the financial measures prepared in accordance with accounting principles generally accepted in the United States ("GAAP"), the Company provides certain non-GAAP financial measures, including adjusted earnings per diluted share. These adjusted amounts consist of GAAP amounts excluding (1) acquisition-related charges and deal-related amortization, (2) income tax-related adjustments, (3) restructuring and other costs and, (4) charges from interest rate swaps related to debt modification. Adjusted earnings per diluted share are calculated by dividing adjusted net income attributable to DENTSPLY International by diluted weighted-average shares outstanding.
The Company believes that the presentation of adjusted earnings per diluted share provides important supplemental information to management and investors seeking to understand the Company's financial condition and results of operations. The non-GAAP financial information should not be considered in isolation from, or as a substitute for, measures of financial performance prepared in accordance with GAAP.
About DENTSPLY International, Inc.
DENTSPLY designs, develops, manufactures and markets a broad range of professional dental products including dental implants, endodontic instruments and materials, orthodontic appliances, restorative materials, preventive materials and devices, and prosthetic materials and devices. The Company distributes its dental products in over 120 countries under some of the most well-established brand names in the industry. DENTSPLY is committed to the development of innovative, high quality, cost-effective new products for the dental market.