A Leading Italian Distributor of Dental Consumable Merchandise and Equipment
MELVILLE, N.Y. – 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, today announced that it will acquire a 90 percent ownership interest in Dental Trey, a leading distributor of dental consumable merchandise and equipment in Italy. Dental Trey had sales for the 12 months ended June 30, 2015 of approximately EUR41 million ($49 million).
The remaining 10 percent interest in Dental Trey will continue to be owned by members of the company's founding family. Henry Schein expects the transaction to close in the fourth quarter of 2015, and for the acquisition to be neutral to its 2016 diluted earnings per share and slightly accretive by less than $0.01 thereafter. Additional financial details and terms of the transaction were not disclosed.
Dental Trey was founded in 1981 and has headquarters, a distribution center and showroom in Fiumana di Predappio (Forli), Italy. The company offers more than 33,000 branded products and a line of private-label products to dental practices across Italy through a dedicated sales force and an e-commerce web portal. Dental Trey also offers a proprietary dental practice management software system with an installed base of more than 1,100 dental offices.
"Henry Schein has enjoyed a successful business in Italy for more than a decade. We have long been impressed with Dental Trey's excellent market reputation, broad product offering and commitment to forging long-standing customer relationships," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "Dental Trey also shares Henry Schein's commitment to dental education and has been a strong supporter of scientific associations working to enhance the dental profession. We look forward to welcoming the more than 200 team members of Dental Trey to Team Schein."
Two members of the Dental Trey founding family will continue to lead the business - Silvia Coli will manage Dental Trey as Managing Director, and Roberta Coli will serve on the Dental Trey Board of Directors. Dental Trey will continue to serve its customers separately from Henry Schein Krugg, Henry Schein's existing business in Italy.
"Joining Henry Schein is an important strategic decision that supports our growth aspirations, while also ensuring our customers remain the focus of all that we do," said Silvia Coli. "We look forward to exchanging best practices with Henry Schein and becoming an even more valuable partner to dentists in Italy, with an enhanced offering of products and services to help practitioners operate efficient practices and deliver quality dental care."
Henry Schein is the leading global distributor of products and services, including innovative digital dental technology solutions, to office-based general dental practitioners, dental specialists and dental laboratories. The Company serves its customers through a multifaceted sales and marketing approach that includes more than 2,500 dedicated dental field sales consultants, as well as product specialists, telesales representatives and direct marketing programs. Henry Schein's global dental business had 2014 sales of approximately $5.4 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 500® Company and a member of the SP 500® and the NASDAQ 100® indexes, Henry Schein employs more than 18,000 Team Schein Members and serves more than one 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 100,000 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 $10.4 billion in 2014, and have grown at a compound annual rate of approximately 16 percent since Henry Schein became a public company in 1995. For more information, visit Henry Schein at www.henryschein.com.
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