AstraZeneca announced that it has formally commenced a review of its strategic options for Astra Tech. Astra Tech develops, manufactures and markets dental implants and healthcare (urological and surgical) products. AstraZeneca continues to evaluate all alternatives for value maximisation from this business and any final decision will only be made when the results of the review have concluded. During the period of this review, AstraZeneca remains committed to supporting Astra Tech's business, customers and stakeholders.
AstraZeneca is working with JP Morgan Chase & Co on an exclusive basis to support the strategic review process.
Astra Tech AB, a company in the AstraZeneca group, is a global leader in dental and healthcare (urological and surgical) products, services and support. An innovation-driven company since its foundation in 1948, Astra Tech has continually developed market-leading solutions to meet healthcare needs based on user and medical community input. Ongoing research and development is aimed at finding new ways to support caregivers and improve quality of life for patients worldwide.
Astra Tech headquarters are located in Mölndal, Sweden, with production facilities in Sweden and North America. The company is represented globally by 16 subsidiaries and selected local distribution partners. Astra Tech has 2,200 employees worldwide and the revenue in 2009 was $506 million.
Astra Tech Dental provides products and services to the dental implant market which is expected to deliver strong growth in the forthcoming years as technology enhancements, clinical outcomes, and improved customer service allow for greater penetration and above average growth when compared to other areas of the medical technology market. Astra Tech Dental operates in the premium segment of the dental implant market.
Astra Tech Healthcare operates predominantly in the intermittent urological catheter market. This market has benefited from increasing use of intermittent catheterisation due to improved infection control and overall ease of use. Based on current estimates, this market is expected to continue to expand in line with historical solid single digit growth rates. Other products within Astra Tech Healthcare are a range of high-quality branded advanced single-use medical devices focused on surgeons needs.
AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialisation of prescription medicines. As a leader in gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease medicines, AstraZeneca generated global revenues of US $32.8 billion in 2009.