Move follows ambitious plans for dental expansion in UK
Bupa is set to acquire the largest dental group in Australia and New Zealand, the international healthcare group announced today.
After announcing ambitious plans to become one of the largest private dental chains in the UK earlier this year, Bupa is now set to buy Dental Corporation, which comprises 190 clinics and more than 560 dentists in Australia and New Zealand.
The deal is expected to complete in March 2013 and will see Bupa acquire 100% of the shares in Dental Corporation. The purchase will be funded by a payment of AUD$374m (£244m) – 84% of the company’s value – with the remaining 16% payable to the dentists and management team over a three-year period.
The transaction is subject to Dental Corporation’s shareholders’ agreement, and regulatory and other approvals.
Bupa’s healthcare offering in Australia and New Zealand already includes private health insurance, care homes, retirement villages, opticians and corporate health services.
In July, the organisation announced a multi-million pound investment in UK dental services and plans to open up to 50 additional private dental centres over the next three years.
And last year Bupa unveiled plans to invest €70m (£57m) in its Spanish dental network, which will see its number of centres in the country expand to 200 by 2014.