DENTSPLY International Announces Agreement To Acquire The Assets Of Sultan Healthcare, Inc.
York, PA - DENTSPLY International Inc. announced that it has entered into an agreement to acquire the assets of Sultan Healthcare, Inc. Sultan Healthcare, based in New Jersey, is a well-known U.S. dental consumable manufacturer recognized primarily for infection control products, dental materials and preventive products. It is expected that this acquisition will add approximately $45 to $50 M on an annualized basis to DENTSPLY's sales. The transaction is also expected to be neutral to earnings per share in 2007 and slightly accretive to earnings per share in 2008.
The Sultan tradition began in 1872, when Edward Sultan founded the original Sultan Pharmacy on 23rd Street in New York City. Paul Seid, President of Sultan Healthcare, commented, "Partnering with the industry leader was a natural choice. DENTSPLY offers a rich history of dental traditions and product innovation that aligned well with the Sultan management team's growth strategies and our commitment to quality and service."
Over the course of its 135 year history, Sultan Healthcare's portfolio of products has significantly broadened and includes products for both domestic and international markets sold under the following leading brands: Purevac, Comfit, Prosonic, Assure, Genie, Sensitemp, Versatemp, Hydrocast, Topex, And Upgrade.
Bret Wise, Chairman, CEO and President for DENTSPLY International stated, "Sultan Healthcare provides DENTSPLY with important entries into new consumable categories such as infection control, while complementing DENTSPLY's offerings in dental materials and preventive products. We look forward to welcoming the associates of Sultan Healthcare to DENTSPLY International."
The transaction, which is subject to antitrust review in the U.S., is expected to close in early July.
DENTSPLY designs, develops, manufactures and markets a broad range of products for the dental market. The Company believes that it is the world's leading manufacturer and distributor of dental prosthetics, precious metal dental alloys, dental ceramics, endodontic instruments and materials, prophylaxis paste, dental sealants, ultrasonic scalers, and crown and bridge materials; the leading United States dental injectable anesthetics, impression materials, orthodontic appliances, dental cutting instruments and dental implants. The Company distributes its dental products in over 120 manufacturer and distributor of dental handpieces, dental x-ray film holders, film mounts and bone substitute/grafting materials; and a leading worldwide manufacturer or distributor of 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.
SOURCE: DENTSPLY International Inc