MELVILLE, N.Y., Jan. 13, 2015 /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, today announced the acquisition of ADS Florida, LLC, one of the largest dental practice transition and brokerage companies serving the State of Florida, and its parent company, Professional Transitions, Inc. The acquisition expands the geographic reach of Henry Schein's practice transitions offerings to dental practice owners looking to buy or sell their practice. Financial and other terms of the transaction were not disclosed. Henry Schein expects the transaction to be neutral to its 2015 earnings per share.
Based in Naples, ADS Florida specializes in dental practice sales, appraisals and practice transitions including partnerships, fractional sales and associate buy-ins and buy-outs. ADS Florida will become part of Henry Schein Financial Services, LLC (HSFS), a wholly-owned subsidiary of Henry Schein, Inc. In addition to practice transitions, HSFS offers an array of other business solutions for health care practitioners, including equipment leasing and financing, and patient and practice credit card services.
ADS Florida is and will continue to be led by Dr. Paul Rang, who represents the company's business in central and northern Florida; Dr. Stuart Auerbach, responsible for its business on Florida's east coast; and Greg Auerbach, responsible for ADS Florida's business on the state's west coast.
"We are delighted to welcome Dr. Rang, Dr. Auerbach, Greg Auerbach and their ADS Florida colleagues to Henry Schein as our Financial Services business continues to expand its practice transitions footprint in large markets where the dental industry is flourishing," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "With our acquisition of ADS Florida, we are building upon last year's acquisition of The Maddox Practice Group in California. These two successful companies enable us to extend the reach of our offerings to dental practice owners who are looking to buy or sell their practices in two of the country's three most populous states."
About Henry Schein, Inc.
Henry Schein, Inc. 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 NASDAQ 100® Index, Henry Schein employs more than 17,000 Team Schein Members and serves more than 800,000 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 96,000 branded products and Henry Schein private-brand products in stock, as well as more than 110,000 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 28 countries. The Company's sales reached a record $9.6 billion in 2013, 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 the Henry Schein website at www.henryschein.com.
SOURCE Henry Schein, Inc.