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Henry Schein To Acquire Southern Anesthesia + Surgical

21 Feb 17

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 has entered into an agreement to acquire Southern Anesthesia + Surgical (SAS), a leading U.S. distributor of anesthesia and surgical supplies to oral surgeons, dental anesthesiologists, and periodontists. SAS offers controlled and non-controlled pharmaceuticals, as well as surgical supplies, to approximately 11,500 customers and had 2016 sales of $72 million.

The agreement is subject to regulatory approval and is expected to close in the second quarter of 2017. SAS will become part of ACE Surgical Supply Co., Inc. (ACE), a subsidiary of Henry Schein, Inc. Financial terms of the transaction were not disclosed.

"We are excited to announce an agreement that will unite two leading dental-surgical supply companies," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "SAS enjoys loyal, long-standing customer relationships with oral surgery practitioners in the US and ACE has grown to become a global leader in the dental market. With complementary products and services, we look forward to deepening customer relationships with our comprehensive offering of value-added products and services, including bone regeneration materials that specialty practices need to maintain and grow their business."

With headquarters in West Columbia, South Carolina, and warehouse and customer service facilities in Reno, Nevada, and Tulsa, Oklahoma, SAS and its 88 team members will continue to be led by its current management team, including President and Chief Executive Officer Bill Alexander. The company has an extensive product offering with more than 13,000 stock keeping units and serves all 50 states.

"We are delighted to join forces with Henry Schein, the nation's full-service dental leader, to benefit our customers with a broader array of products and services," said SAS's Bill Alexander. "Henry Schein has earned a global reputation for excellence in customer service with a commitment to quality patient care, practice success, and innovation. Together, we will explore opportunities to serve and expand the SAS customer base."

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