Bupa in £244m dental deal in Australia
Monday 17 December 2012
The private healthcare group Bupa has agreed to take over Australia and New Zealand's largest dentistry chain for £244m.
Dental Corporation runs 190 clinics in the two countries and employs more than 560 dentists.
The move comes after Bupa's announcement in July that it would pump millions into developing its dentistry business in the UK with a target of running more than 60 centres across this country, up from its present 11.
Bupa is paying £244m for all shares in Dental Corporation and will pay a further £47m over the next three years to the management and dentists.
Dean Holden, managing director of Bupa Australia and New Zealand, said: "We're really excited by this acquisition and look forward to working with Dental Corporation's management team and its dentists to build on their track record of growth and success.
"Bupa already provides dental services to many thousands of people in a number of countries, and we see this acquisition as being core to our future ambition."
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