19 Dec 2012

Bupa bids for Dental Corporation

8:23 am on 19 December 2012

Bupa Australia Health says it plans to acquire Dental Corporation through a Scheme of Arrangement.

Dental Corp is Australia and New Zealand's largest dental group, comprising 190 clinics and more than 560 dentists.

Bupa Australia will acquire all the shares in Dental Corporation on completion.

Fortis and financial investors will be entitled to receive $2.35 per share and management and dentists will be entitled to receive 94 cents per share plus three annual earn-out payments over the next three years.