Bupa gains court approval to buy Dental Corp in Aust, NZ

Bupa gains court approval to buy Dental Corp in Australia and New Zealand

By Tina Morrison

May 24 (BusinessDesk) – Bupa Group, a London-based healthcare provider, gained court approval to buy Dental Corp, Australia and New Zealand’s largest dental group, for 244 million British pounds.

Australia’s Supreme Court of Victoria today cleared Bupa’s Australian unit to buy Dental Corp, which has 190 clinics and more than 560 dentists in Australia and New Zealand.

The addition of dental adds to Bupa’s existing health insurance, aged-care and retirement villages in Australia and New Zealand. Dental Corp competes with Abano Healthcare Group’s Lumino The Dentists unit in New Zealand and its Dental Partners unit in Australia. Shares in Abano dropped 3.5 percent to $5.50.

“Dental Corp is a strong and successful business with scope to continue to grow its profitability, footprint and service offerings,” Bupa Australia and New Zealand managing director Dean Holden said in a statement.

The transaction is expected to be completed May 31.

(BusinessDesk)

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