Henry Schein Strengthens And Expands Its Global Dental Implant Business With Three Investments
MELVILLE, N.Y., Sept. 25, 2018
MELVILLE, N.Y., Sept. 25, 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, announced today three investments that will advance the Company's dental implant business strategy.
Henry Schein will enhance its position in the premium implant segment through the acquisition of Intra-Lock, a provider of dental restoration solutions, including proprietary surface, connection, and biomaterial and small diameter implant technologies; expand into the lower-priced segment of the dental implant market through the planned acquisition of a majority interest in Medentis Medical, a dental implant manufacturer based in Germany; and strengthen its geographic footprint in Europe with the acquisition of a majority interest in Pro-Cam Implants B.V., CAMLOG's exclusive distributor in the Netherlands.
Together, these acquisitions represent annual sales of approximately $45 million, will be neutral to the Company's 2018 earnings per share, and are expected to be accretive thereafter. Financial terms were not disclosed.
Intra-Lock, Medentis Medical, and Pro-Cam Implants will complement Henry Schein's existing solutions for implant-based tooth replacement, and strengthen the Company's position in the global dental implant market. These acquisitions will broaden the Company's geographic reach, add innovative technologies, enhance its manufacturing footprint, and further its commitment to serve the lower-priced segment of the implant market. Upon completion of the Medentis Medical acquisition, the Company will also be better positioned to address the growing needs of emerging markets.
"The dental implant category has become increasingly important, and we are committed to offering customers a wide array of the products and services associated with implant dentistry, thereby providing a complete solution for the benefit of the dental practice," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "We believe that with the investments we have made in CAMLOG, BioHorizons, and now Intra-Lock, Medentis Medical, and Pro-Cam Implants, we are well positioned to compete in the high growth global dental implant market. We welcome our new colleagues to Team Schein and look forward to continued success together."
A U.S.-based dental implant manufacturing and sales company, Intra-Lock International and Intra-Lock Manufacturing is known for its OSSEAN® surface structure, which is engineered to increase host-to-implant biocompatibility and biomechanical response and is characterized by a surface topography that is similar at all levels of magnification. Intraspin PRF is a leading device for creating platelet-rich fibrin derived from the patient's blood to enhance wound healing for implant site development.
Headquartered in Boca Raton, Fla. with its manufacturing facility in Vista, Calif., the Company has approximately 50 employees. Dr. Thierry Giorno, CEO and Director of Research & Development of Intra-Lock, will act as a consultant providing insights and strategic guidance to help accelerate the development of implants and new technologies for Henry Schein that will help dentists and improve oral health.
"As a member of the Henry Schein family, we see tremendous opportunities to continue our legacy of product innovation. We look forward to joining forces with the Henry Schein team to accelerate our growth and to develop and identify technologies that can be leveraged to create next-generation products for BioHorizons and CAMLOG product lines," said Dr. Giorno.
Based in Bad Neuenahr-Ahrweiler and founded in 2001, Medentis Medical GmbH is a fast-growing provider of value-priced dental implants. A German manufacturer of high quality, lower-priced dental implants, the company sells its products in more than 40 countries and has 75 employees, including 10 telesales representatives.
Henry Schein will acquire a majority ownership interest in the company and Founder and CEO Alexander Scholz will continue to lead the business as Managing Director. Completion of the transaction is subject to regulatory approval, and is expected to close in the fourth quarter of 2018.
"With this new ownership position by Henry Schein, Medentis will accelerate several important, ongoing strategic initiatives including expanding our position in the fast-growing emerging markets," commented Mr. Scholz. "My father ran a dental laboratory and I have spent my entire career in the dental industry, including serving as practice manager of an implant center in Cologne. As such, I fully appreciate the importance of quality products, value, and excellent customer service. I am delighted to be aligning Medentis with the global dental leader Henry Schein, and look forward to the many opportunities to advance the practice of dentistry."
Pro-Cam Implants B.V., CAMLOG's exclusive distributor in the Netherlands, is one of the leading implant solution providers in the Netherlands.
Henry Schein has acquired a majority interest in Pro-Cam Implants, which is owned by Mike van Rooijen, who will continue to manage the business post-acquisition and will retain the remaining ownership in the company. Pro-Cam Implants will in the future also represent the BioHorizons implant lines and biomaterial portfolio.
"By joining forces with CAMLOG and BioHorizons, Pro-Cam Implants will have access to the resources and capital necessary to accelerate our growth in the highly competitive dental implant market. Working with Henry Schein's platform in the Netherlands, we see enhanced business prospects and an opportunity to solidify market share gains in the future," said Mr. van Rooijen.
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is a health solutions network powered by 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, Technology, and Supply Chain 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.
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SOURCE Henry Schein, Inc.