Henry Schein To Acquire Full-Service Dental Distributor Marrodent
MELVILLE, N.Y., Aug. 30, 2016 /PRNewswire/ -- Henry Schein, Inc. (Nasdaq: HSIC), the world's largest provider of health care products and services to office-based dental, animal health and medical practitioners, announced that it has entered into a definitive agreement to acquire an 80 percent ownership position in Marrodent, one of Poland's largest full-service dental distributors with 2015 sales of approximately $32 million. Henry Schein has served animal health customers in Poland since 2014, and Marrodent will mark the Company's entry into Poland's dental market.
The transaction is subject to approval by Poland's competition authorities and is expected to close in the fourth quarter of 2016. Financial terms were not disclosed.
"We are delighted to enter Poland's dental market through Marrodent and we see considerable opportunity to expand this business among the country's approximately 26,000 practicing dentists and approximately 20,000 dental offices," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "We look forward to working together and serving the Polish dental community with the same high standards and commitment to efficiency and success that customers throughout the world have come to expect from Henry Schein."
Founded in 1990 by brothers Roman and Marek Stekla, and with headquarters in Bielsko-Biala and a facility in Warsaw, Marrodent distributes dental consumables and equipment, as well as dental laboratory supplies and equipment. With nearly 60 sales representatives and a call center, Marrodent serves approximately 10,000 office-based dental practitioners across Poland. Roman and Marek Stekla will own the remaining 20 percent of Marrodent, and along with CEO Artur Podolski, will join Henry Schein.
"We are very pleased to partner with Henry Schein, a global leader in oral health and a company whose commitment to being a valued resource for innovative solutions across the spectrum of products, services and technology we share," said Roman Stekla.
"With the demand for dental services growing rapidly in Poland, our partnership with Henry Schein will expand our mutual efforts to focus on practice care so dental professionals can focus on patient care," added Marek Stekla.
With the addition of Marrodent, Henry Schein's dental business will have operations or affiliates in 27 countries. In 2015, Henry Schein reported global Dental sales of $5.3 billion.
About Henry Schein, Inc.Henry Schein, Inc. (Nasdaq: HSIC) is the world's largest provider of health care products and services to office-based dental, animal health and medical practitioners. The Company also serves dental laboratories, government and institutional health care clinics, and other alternate care sites. A Fortune 500Ū Company and a member of the S&P 500Ū and the Nasdaq 100Ū indexes, Henry Schein employs more than 19,000 Team Schein Members and serves more than 1 million customers.
The Company offers a comprehensive selection of products and services, including value-added solutions for operating efficient practices and delivering high-quality care. Henry Schein operates through a centralized and automated distribution network, with a selection of more than 110,000 branded products and Henry Schein private-brand products in stock, as well as more than 150,000 additional products available as special-order items. The Company also offers its customers exclusive, innovative technology solutions, including practice management software and e-commerce solutions, as well as a broad range of financial services.
Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 33 countries. The Company's sales reached a record $10.6 billion in 2015, and have grown at a compound annual rate of approximately 15 percent since Henry Schein became a public company in 1995. For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein and @HenrySchein on Twitter.
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Risk factors and uncertainties that could cause actual results to differ materially from current and historical results include, but are not limited to: effects of a highly competitive and consolidating market; our dependence on third parties for the manufacture and supply of our products; our dependence upon sales personnel, customers, suppliers and manufacturers; our dependence on our senior management; fluctuations in quarterly earnings; risks from expansion of customer purchasing power and multi-tiered costing structures; increases in shipping costs for our products or other service issues with our third-party shippers; general global macroeconomic conditions; disruptions in financial markets; volatility of the market price of our common stock; changes in the health care industry; implementation of health care laws; failure to comply with regulatory requirements and data privacy laws; risks associated with our global operations; transitional challenges associated with acquisitions and joint ventures, including the failure to achieve anticipated synergies; financial risks associated with acquisitions and joint ventures; litigation risks; the dependence on our continued product development, technical support and successful marketing in the technology segment; increased competition by third party online commerce sites; risks from disruption to our information systems; cyberattacks or other privacy or data security breaches; certain provisions in our governing documents that may discourage third-party acquisitions of us; and changes in tax legislation. The order in which these factors appear should not be construed to indicate their relative importance or priority.
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SOURCE Henry Schein, Inc.