Patient Square Capital has entered into a definitive agreement to acquire Patterson Cos. for more than $4 billion, according to a Dec. 11 news release from Patterson.
Here are seven things to know:
1. Patterson Dental, a segment of Patterson Cos., is a North American dental supplier.
2. Patterson shareholders will receive $31.35 in cash per share, leading to a total acquisition price of about $4.1 billion.
3. The company's board of directors unanimously approved the transaction.
4. The transaction will be financed through committed equity financing provided by Patient Square Equity Partners, as well as committed debt financing that will be led by Citi, UBS Investment Bank and Wells Fargo Bank.
5. The transaction is expected to be completed during Patterson's fiscal 2025 and is subject to shareholder approval, regulatory approval and other customary closing conditions.
6. Once completed, Patterson will become a privately held company and its common stock will no longer be traded on Nasdaq.
7. Patient Square Capital is a dedicated healthcare investment firm with about $11 billion in assets under management.