Henry Schein Partners With Ortho2 To Advance Practice Management Software Solutions To Orthodontists

Monday, April 30, 2018 General News
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MELVILLE, N.Y. and AMES, Iowa, April 30, 2018 /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, and Ortho Computer Systems, Inc. (Ortho2), the leading provider of practice management
software solutions to orthodontists in the U.S. and Canada, announced today that they have signed a definitive agreement to advance practice management software solutions to orthodontists.

As a result of the transaction, Henry Schein will own a 50% interest in Ortho2. The transaction, subject to closing conditions, is expected to be neutral to Henry Schein's 2018 diluted earnings per share. Financial terms were not disclosed.

"We welcome our new Ortho2 colleagues to Henry Schein, and look forward to continued success together," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "With this investment in Ortho2, we round out our dental software portfolio and gain a leadership position in orthodontist practice management software. This transaction supports our commitment to dental specialty markets, to advanced technology, and to category leadership. We look forward to offering advanced software solutions to orthodontists, just as we currently do to general practice dentists."

Founded in 1982 in Ames, Iowa by Dan Sargent and Dr. William Iversen, today Ortho2 has a staff of over 70 and offers the optimized Edge Cloud practice management solution as well as ViewPoint, a Windows-based software solution. Ortho2 serves nearly 1,700 orthodontists in approximately 2,400 locations, and had record 2017 revenues of $14 million.

"We are delighted to be joining forces with Henry Schein," said Amy Schmidt, President, Ortho2. "We're proud of what we've accomplished in our 35 years as a completely independent company. The ongoing technology explosion and evolving orthodontic market now makes joining forces with Henry Schein a win/win for us and, most significantly, for our customers. The ability to leverage Henry Schein's comprehensive ecosystem will allow us to offer a turnkey solution including software, digital imaging, equipment, supplies, and many other benefits to our current and future customers."

Senior Advisor and past President Dan Sargent added, "This relationship is the end-result of a long and thoughtful process. In Henry Schein, we found the right combination of strength, integrity, and common culture that made us feel good. It was important to me that we retain the people and practices that have helped us succeed all these years."

Ortho2 Edge Cloud delivers premium practice management, imaging, and communication solutions. It offers all the features needed to run more effectively and efficiently: management, imaging, reminders, education animations, apps, and more. In addition to Edge Cloud, Ortho2 offers a Windows-based product, ViewPoint, which has been making practices more productive since 1998.

"Practice management software is the backbone of an efficient, profitable practice," Mr. Bergman added. "Henry Schein embraces an open architecture approach to all software and advanced technology, which allows for the purchase of products and services that best meet the needs of each individual practice."

For more information on Ortho2, visit www.ortho2.com.

About Henry Schein, Inc.

Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care professionals powered by a network of people and technology. With more than 22,000 Team Schein Members serving more than 1 million customers globally, the Company is the world's largest provider of Business, Clinical, and Technology solutions to enhance the efficiency of 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 500® Company and a member of the S&P 500® and the Nasdaq 100® indexes, Henry Schein's network of trusted advisors provides health care professionals with the valued solutions they need to improve operational success and clinical outcomes. The Company offers customers exclusive, innovative products and solutions, including practice management software, e-commerce solutions, specialty and surgical products, as well as a broad range of financial services. Henry Schein operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.

Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 34 countries. The Company's sales reached a record $12.5 billion in 2017, 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.

Cautionary Note Regarding Forward-Looking Statements

In accordance with the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, we provide the following cautionary remarks regarding important factors that, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein.  All forward-looking statements made by us are subject to risks and uncertainties and are not guarantees of future performance.  These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  These statements are identified by the use of such terms as "may," "could," "expect," "intend," "believe," "plan," "estimate," "forecast," "project," "anticipate" or other comparable terms.  A full discussion of our operations and financial condition, including factors that may affect our business and future prospects, is contained in documents we have filed with the United States Securities and Exchange Commission, or SEC, and will be contained in all subsequent periodic filings we make with the SEC. These documents identify in detail important risk factors that could cause our actual performance to differ materially from current expectations.

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 macro-economic conditions; risks associated with currency fluctuations; risks associated with political and economic uncertainty; 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; new or unanticipated litigation developments; the dependence on our continued product development, technical support and successful marketing in the technology segment; our dependence on third parties for certain technologically advanced components; 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. 

We caution that these factors may not be exhaustive and that many of these factors are beyond our ability to control or predict.  Accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results.  We undertake no duty and have no obligation to update forward-looking statements.

Cision View original content:http://www.prnewswire.com/news-releases/henry-schein-partners-with-ortho2-to-advance-practice-management-software-solutions-to-orthodontists-300638659.html

SOURCE Henry Schein, Inc.



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