YORK, Pennsylvania--DENTSPLY International Inc. has 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 million 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, said: "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."
During 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, PROSONICTM, ASSURE, GENIE, SENSITEMP, VERSATEMP, HYDROCAST, TOPEX, and UPGRADE.
Bret Wise, chairman, CEO and president for DENTSPLY International said:
"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
The transaction, which is subject to antitrust review in the U.S., is expected to
close in early July.