Henry Schein to Acquire Condor Dental, Expand Dental Sales and Service Operations in Switzerland & More News Here

MELVILLE, N.Y.–(BUSINESS WIRE)–Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest supplier of well being care options to office-based dental and medical practitioners, as we speak introduced that it has signed a definitive settlement to purchase Condor Dental Research Company SA (Condor Dental), a privately held dental distribution firm that serves dental normal practitioners, specialists, and laboratories in Switzerland.

Since 2004, Henry Schein has served the Swiss dental implant market via Camlog Biotechnologies GmbH, a member of the Global Oral Reconstruction Group, a Basel-based division of Henry Schein, Inc. and a world chief in dental implants, biomaterials, and oral reconstruction. The addition of Condor Dental will broaden Henry Schein’s entry into the Swiss marketplace for its dental distribution enterprise.

Condor Dental relies in Vouvry, Switzerland, and was established in 1978. Sales for 2021 had been roughly $18 million, nearly all of which had been from dental consumable merchandise, with additional income from the customization of dental practices and dental laboratory installations. Once the transaction closes, Condor Dental will be a part of Henry Schein’s International Distribution Group, and the enterprise will proceed to be led by Yves Mailliard, Condor’s Chief Operating Officer.

“We look forward to welcoming the Condor Dental team to the Henry Schein family,” mentioned Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “Our corporations share the identical values and emphasis on delivering an distinctive buyer expertise. Condor presents a complete product portfolio and has a number of alternatives for development in considered one of Europe’s most tasty dental markets. This transaction is a first-rate instance of Henry Schein’s long-standing dedication to strategic acquisitions that enable us to higher serve prospects and broaden our extensive collection of merchandise and companies that assist the supply of high-quality dental care.”

Henry Schein will purchase Condor Dental from MCCB Holding Sarl, a well being care holding firm that’s wholly owned by the Libon household. This transaction is predicted to be impartial to Henry Schein’s 2022 diluted earnings per share and to be accretive thereafter. Financial phrases weren’t disclosed.

“Condor Dental is a highly regarded company that has been serving dental professionals for more than 40 years and will nicely complement our European dental business,” mentioned Andrea Albertini, President of Henry Schein’s International Distribution Group. “With the support of Henry Schein’s operational expertise, Condor Dental will be better resourced to strengthen its position in the marketplace and improve the level of services and solutions offered to dental practitioners. For Henry Schein, we will have a significant opportunity through this new partnership to expand our presence into Switzerland and to bring our comprehensive portfolio of technology and value-added solutions to the Swiss dental community.”

About Henry Schein, Inc.

Henry Schein, Inc. (Nasdaq: HSIC) is a options firm for well being care professionals powered by a community of individuals and know-how. With almost 22,000 Team Schein Members worldwide, the Company’s community of trusted advisors supplies greater than 1 million prospects globally with greater than 300 valued options that assist enhance operational success and medical outcomes. Our Business, Clinical, Technology, and Supply Chain options assist office-based dental and medical practitioners work extra effectively to allow them to present high quality care extra successfully. These options additionally assist dental laboratories, authorities and institutional well being care clinics, in addition to different alternate care websites.

Henry Schein operates via a centralized and automated distribution community, with a collection of greater than 120,000 branded merchandise and Henry Schein private-brand merchandise in inventory, in addition to greater than 180,000 extra merchandise accessible as special-order gadgets.

A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville, N.Y., and has operations or associates in 32 nations and territories. The Company’s gross sales reached $12.4 billion in 2021, and have grown at a compound annual price of roughly 12.5 % since Henry Schein turned a public firm in 1995.

For extra data, go to Henry Schein at www.henryschein.com, Facebook.com/HenrySchein, Instagram.com/HenrySchein, and Twitter.com/HenrySchein.

Cautionary Note Regarding Forward-Looking Statements

In accordance with the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995, we offer the next cautionary remarks concerning necessary components that, amongst others, might trigger future outcomes to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein. All forward-looking statements made by us are topic to dangers and uncertainties and are usually not ensures of future efficiency. These forward-looking statements contain recognized and unknown dangers, uncertainties and different components which will trigger our precise outcomes, efficiency and achievements or business outcomes to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. These statements embody EPS steerage and are typically recognized by means of such phrases as “may,” “could,” “expect,” “intend,” “believe,” “plan,” “estimate,” “forecast,” “project,” “anticipate,” “to be,” “to make” or different comparable phrases. A fuller dialogue of our operations, monetary situation and standing of litigation issues, together with components which will have an effect on our enterprise and future prospects, is contained in paperwork we’ve filed with the United States Securities and Exchange Commission, or SEC, together with our Annual Report on Form 10-Ok, and will probably be contained in all subsequent periodic filings we make with the SEC. These paperwork establish in element necessary threat components that would trigger our precise efficiency to differ materially from present expectations. Forward trying statements embody the general influence of the Novel Coronavirus Disease 2019 (COVID-19) on the Company, its outcomes of operations, liquidity and monetary situation (together with any estimates of the influence on these things), the speed and consistency with which dental and different practices resume or keep regular operations in the United States and internationally, expectations concerning PPE and COVID-19 associated product gross sales and stock ranges, whether or not extra resurgences or variants of the virus will adversely influence the resumption of regular operations, whether or not vaccine mandates will adversely influence the Company (by disrupting our workforce and/or enterprise), whether or not provide chain disruptions will adversely influence our enterprise, the influence of restructuring packages in addition to of any future acquisitions, and extra typically present expectations concerning efficiency in present and future durations. Forward trying statements additionally embody the (i) capability of the Company to have continued entry to a wide range of COVID-19 take a look at sorts, expectations concerning COVID-19 take a look at gross sales, demand and stock ranges, in addition to the efficacy or relative efficacy of the take a look at outcomes provided that the take a look at efficacy has not been, or is not going to have been, independently verified beneath regular FDA procedures and (ii) potential for the Company to distribute the COVID-19 vaccines and ancillary provides.

Risk components and uncertainties that would trigger precise outcomes to differ materially from present and historic outcomes embody, however are usually not restricted to: dangers related to COVID-19 and any variants thereof, in addition to different illness outbreaks, epidemics, pandemics, or related wide-spread public well being issues and different pure disasters; our dependence on third events for the manufacture and provide of our merchandise; our capability to develop or purchase and keep and defend new merchandise (notably know-how merchandise) and applied sciences that obtain market acceptance with acceptable margins; transitional challenges related to acquisitions, tendencies and joint ventures, together with the failure to obtain anticipated synergies/advantages; monetary and tax dangers related to acquisitions, tendencies and joint ventures; sure provisions in our governing paperwork which will discourage third-party acquisitions of us; results of a extremely aggressive (together with, with out limitation, competitors from third-party on-line commerce websites) and consolidating market; the repeal or judicial prohibition on implementation of the Affordable Care Act; modifications in the well being care business; dangers from enlargement of buyer buying energy and multi-tiered costing buildings; will increase in delivery prices for our merchandise or different service points with our third-party shippers; normal world macro-economic and political circumstances, together with worldwide commerce agreements, potential commerce obstacles and terrorism; failure to adjust to current and future regulatory necessities; dangers related to the EU Medical Device Regulation; failure to adjust to legal guidelines and laws relating to well being care fraud or different legal guidelines and laws; failure to adjust to legal guidelines and laws relating to the gathering, storage and processing of delicate private data or requirements in digital well being data or transmissions; modifications in tax laws; dangers associated to product legal responsibility, mental property and different claims; litigation dangers; new or unanticipated litigation developments and the standing of litigation issues; dangers related to customs insurance policies or legislative import restrictions; cyberattacks or different privateness or knowledge safety breaches; dangers related to our world operations; our dependence on our senior administration, worker hiring and retention, and {our relationships} with prospects, suppliers and producers; and disruptions in monetary markets. The order in which these components seem shouldn’t be construed to point out their relative significance or precedence.

We warning that these components is probably not exhaustive and that many of those components are past our capability to management or predict. Accordingly, any forward-looking statements contained herein shouldn’t be relied upon as a prediction of precise outcomes. We undertake no obligation and don’t have any obligation to replace forward-looking statements.

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