Patterson Companies, Inc. PDCO today announced a definitive
agreement to sell its medical business (Patterson Medical) to Madison
Dearborn Partners (MDP), a leading private equity firm based in Chicago,
for gross proceeds of approximately $715 million in cash. The sale is
expected to close in the fiscal second quarter, following the
satisfaction of regulatory requirements and other customary closing
conditions.
According to Scott P. Anderson, chairman and chief executive officer of
Patterson Companies, "Patterson's strategy for growth is to focus our
resources and investments on building our dental and animal health
businesses. We believe that the medical business will thrive under the
new ownership that is dedicated to driving growth in the rehabilitation
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