Zila completes sales of dental division
Zila, Inc. has announced completion of the sale of its Zila Dental Supply division, with the closing of the sale of the division's mail-order operations to PracticeWares, Inc., of Sacramento, Calif. Zila previously announced the sale of the division's full-service dental distribution operations to Henry Schein, Inc. Total gross proceeds from the two separate sales of the division's assets are approximately $13.8 million. The gross proceeds are subject to certain post-closing adjustments.
Zila president Joseph Hines reiterated that the divestiture "represents a major refocusing of Zila's strategic direction, allowing the Company to concentrate on the development and marketing of its proprietary pharmaceutical, biotechnology and nutraceutical products."
