By Neil MacLucas
ZURICH--U.S. healthcare group Danaher Corp. (DHR) said Monday it
will acquire Swiss dental-implant maker Nobel Biocare Holding AG
(NOBN.EB) in a cash deal worth about $2.1 billion, to strengthen
its position in the dental market.
Danaher said it will pay 17.10 Swiss francs ($18.20) a share in
a transaction expected to close by late 2014 or early 2015. Danaher
said Nobel Biocare's board is recommending shareholders accept the
offer, and that the Swiss company would operate as a stand-alone
business within its dental platform.
The purchase comes amid a quickening of deal-making in the
medical-device sector. In June, medical-device maker Medtronic Inc.
(MDT) agreed to acquire rival Covidien PLC (COV) in a deal valued
at almost $43 billion. In April, Zimmer Holdings Inc. (ZMH) and
Biomet Inc., both makers of surgical implants, agreed to a $13.35
billion cash-and-stock deal.
Nobel Biocare has a market capitalization of about CHF1.7
billion. In 2013, the company had net profit attributable to
shareholders of EUR42.6 million ($57.2 million) on revenue of
EUR566.8 million.
-Write to neil.maclucas@wsj.com
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