ZURICH, April 7 (Reuters) - Swiss dental implant maker Straumann said on Tuesday it agreed to buy the stake it did not already own in Brazil’s Neodent for 680 million Brazilian reais (about $218 million).
“The acquisition extends Straumann’s overall leadership in implant dentistry and makes the group a substantial contender in the global value segment,” the Basel-based firm said in a statement.
Straumann bought 49 percent of Neodent in 2012 for 549 million Brazilian reais, with an option to increase the stake to 75 percent in 2015 and up to 100 percent by 2018.
The company said this option had been renegotiated to enable a full acquisition in 2015.
$1 = 3.1255 Brazilian reais Reporting by Joshua Franklin; Editing by Anupama Dwivedi