MELVILLE, N.Y., May 2, 2017 /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 the completion of its acquisition of 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 transaction was announced on February 20, 2017. Financial terms of the transaction were not disclosed.
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 become part of ACE Surgical Supply Co., Inc. (ACE), a subsidiary of Henry Schein, Inc.
"We at Henry Schein are pleased to extend a warm welcome to our new colleagues from SAS as we unite two leading dental-surgical supply companies," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "SAS's loyal and long-standing customer relationships and ACE's standing as a global leader in the dental market greatly enhance our ability to serve the needs of oral surgery practitioners across the U.S. Together, we are able to provide our customers with a wide range of products and value-added services, including bone regeneration materials, that will help them grow their business and provide high-quality care to their patients."
The SAS business will continue to be led by its current management team, including Bill Alexander, Vice President and General Manager.
"We are delighted with the closing of the transaction and the opportunity to join forces with Henry Schein, the nation's full-service dental leader," Mr. Alexander said. "Henry Schein's well-earned global reputation for excellence in customer service with a commitment to quality patient care, practice success, and innovation, makes the company and its ACE subsidiary an ideal partner as we explore opportunities to serve and grow the SAS customer base."
Since 1967, ACE has been dedicated to dental-surgical advancements and has become a leading global provider of bone regenerative products and compatible dental implant systems. Headquartered in Brockton, Massachusetts, ACE employs 93 team members and provides supplies to more than 120,000 dental professionals in over 20 countries each year.
"We very much look forward to our partnership with SAS," said Craig Carchidi, President of ACE. "By combining two well-known and respected brands, we will offer a broader product portfolio focused on the unique needs of the dental surgeon."
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 S&P 500® and the Nasdaq 100® indexes, Henry Schein employs more than 21,000 Team Schein Members and serves more than 1 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 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. 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 $11.6 billion in 2016, 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 and Use of Non-GAAP Financial Information
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 political and economic uncertainty arising from the outcome of the referendum on the membership of the United Kingdom in the European Union; 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; the dependence on our continued product development, technical support and successful marketing in the technology segment; 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/henry-schein-completes-acquisition-of-southern-anesthesia--surgical-300449434.html
SOURCE Henry Schein, Inc.