PSS World divests specialty dental business

PSS World Medical, which markets and distributes medical products and services to caregivers throughout the U.S., has reached a definitive agreement to sell its specialty dental business to Beecken Petty O'Keefe, a private equity firm, for $68 million.

The transaction is expected to close next month, following the satisfaction of regulatory licensing requirements and other closing conditions, the companies said.

The proceeds from the sale will accelerate investments to drive long-term growth in four areas: physician, laboratory, dispensing, and home care/hospice, according to David Bronson, executive vice president and chief financial officer.