Vitaldent Acquisition: Brussels Approves OTPP Sale

brussels Approves the Purchase of Vitaldent by Canadian Fund OTPP

brussels has given the green light to the acquisition of the Spanish dental clinic chain Vitaldent by the Canadian pension fund Ontario Teachers’ Pension Plan (OTPP). The European Commission approved the operation on Thursday, August 24th, after concluding that it does not raise competition concerns.

The transaction, valued at approximately 1 billion euros, will see OTPP take full control of Vitaldent, which operates over 300 dental clinics across Spain. the Commission’s investigation focused on assessing whether the acquisition would lead to a notable reduction in competition in the dental services market in Spain.

According to the Commission, the dental services market in spain is highly fragmented, with the presence of numerous local and national operators.The Commission found that the acquisition would not significantly increase OTPP’s market share or allow it to raise prices or reduce the quality of services.

“The commission concluded that the proposed acquisition would not raise competition concerns in the Spanish market for dental services,” the Commission stated in a press release. “The market is competitive,and there are sufficient option providers available to patients.”

OTPP, one of the largest pension funds in Canada, manages assets worth over 243 billion Canadian dollars. The fund invests in a variety of asset classes, including infrastructure, real estate, and private equity.

Vitaldent,founded in 1988,has become one of the leading dental clinic chains in Spain. The company offers a wide range of dental services, including general dentistry, orthodontics, and implantology.

The acquisition of Vitaldent by OTPP is part of a broader trend of investment in the Spanish healthcare sector by foreign funds. In recent years, several private equity firms and pension funds have acquired stakes in Spanish hospitals, clinics, and pharmaceutical companies.

The Commission’s approval of the Vitaldent acquisition is expected to pave the way for the completion of the transaction in the coming weeks. The deal is subject to the usual closing conditions.