York-based Dentsply announced a deal this morning to acquire the AstraZeneca subsidiary. The transaction is expected to close by the end of this year, Dentsply said. The acquisition increases Dentsply’s leadership position in global dental markets, the company said. 

Astra Tech, which has Astra Tech Dental and Astra Tech Healthcare divisions, recorded worldwide revenue of about $535 million in 2010, according to the release. Dentsply reported net sales of about $2.2 billion in 2010 and diluted earnings per share of $1.82.

In addition to more immediate earnings benefits, Dentsply said it expects the acquisition to add about 30 cents to 40 cents per share by the third year, according to a news release this morning.

Dentsply plans to finance the acquisition with cash on hand, long-term debt and commercial paper, according to the release.

Shares of Dentsply are traded on the Nasdaq under the ticker symbol XRAY.