Some 20 bidders circle AstraZeneca unit: sources

LONDON (Reuters) - Some 20 bidders are readying indicative offers for the whole or parts of Astra Tech, the dental and medical devices unit that ASTRAZENECA (AZN.LO)Plc hopes could fetch $2 billion, people familiar with the matter said.

Astra Tech, which had revenues last year of $535 million, is the world's third-biggest dental implant maker behind Switzerland's Straumann Holding and Nobel Biocare Holding . It also sells medical devices, focusing chiefly on urology.

Parent AstraZeneca, which first flagged the sale in November, has sent so-called "information memorandums" to a slew of medtech companies and private equity firms, the people said, and requested preliminary bids in March. An initial screening weeded out dozens of other potential bidders, they added.

"The conversations are ongoing and we are going through the strategic review process as we speak," a company spokeswoman said. She declined to give further details.

(Reporting by Quentin Webb; editing by Ben Hirschler)

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