International healthcare group Bupa has announced that it plans to acquire Dental Corporation, Australia and New Zealand’s largest dental group.
The acquisition will bolster and broaden Bupa’s current healthcare offering in Australia and New Zealand, which already includes private health insurance, care homes, retirement villages, and many other services.
On completion of the deal Bupa will acquire 100% of the shares in Dental Corporation, in a payment worth 84.4% of the company’s value (£244m, equating to AUD $374m).
The outstanding 15.6% will be paid to dentists and the management team over a period of three years.
Managing Director of Bupa Australia and New Zealand Dean Holden said that Bupa was really excited by the acquisition and looked forward to working with Dental Corporation’s management team and dentists.