Midwest Firm To Take National Dentex Private
Natick-based dental lab operator National Dentex Corp. has agreed to be acquired by privately-held GDC Holdings Inc., which operates laboratory and dental implant manufacturing companies.
National Dentex said its shareholders will get $17 per share in cash in the deal, a premium of about 70 percent over the company's most recent closing share price of $10.02.
The deal was unanimously approved by National Dentex's board, but must be approved by shareholders. The company expects the deal to close by June 30.
GDC Holdings is a holding company for GeoDigm Corp., which manufactures prosthetic teeth, and performs orthodontic imaging, mostly for clients in the upper Midwest.
GDC is owned by Welsh, Carson, Anderson & Stowe, a New York-based private equity firm.
National Dentex's sales fell nearly 8 percent in the third quarter, but the company managed to increase its profit for the quarter by 33.8 percent to $1.1 million by cutting staff and operating expenses.
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