MELVILLE, N.Y., Feb. 5, 2016 /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 that it has entered into an agreement to acquire a majority ownership interest in Dental Cremer S.A., a distributor of dental supplies and equipment in Brazil.
Headquartered in Blumenau, Brazil, Dental Cremer is the dental distribution business of Cremer S.A. With 2015 sales of approximately $70 million, Dental Cremer serves approximately 60,000 dental practitioners across Brazil and has approximately 530 team members.
Henry Schein expects the transaction to be neutral to its 2016 earnings per share and accretive to its 2017 earnings per share by $0.01-$0.02. Completion of the transaction is subject to regulatory approval and other conditions, and is expected to close in the first half of 2016.
"As Brazil's dental market grows, fueled by an aging population and an expanding middle class, Henry Schein and Dental Cremer share a commitment to helping practitioners in Brazil operate successful practices and provide quality care to patients," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein, Inc. "We look forward to welcoming the Dental Cremer team to Team Schein."
Mr. Paulo Batista, the Chief Executive Officer of Dental Cremer, and other members of Dental Cremer's management team will retain an ownership interest in the company. Mr. Batista will continue to lead the business as Managing Director.
"Henry Schein has demonstrated its steadfast commitment to serving the needs of dental practitioners and the patients they serve throughout the world for more than eight decades," said Mr. Batista. "We look forward to drawing on Henry Schein's impressive global resources to strengthen the foundation that Dental Cremer has built."
Henry Schein first entered the Brazilian dental market in 2014. Upon closing, Dental Cremer will become part of Henry Schein's Global Dental business, the leading global distributor of products and services, including innovative digital dental technology solutions to office-based general dental practitioners, dental specialists and dental laboratories. Henry Schein serves its customers through a multifaceted sales and marketing approach that includes more than 2,600 dedicated dental field sales consultants, as well as product specialists, telesales representatives and direct marketing programs.
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 18,000 Team Schein Members and serves more than one 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 100,000 branded products and Henry Schein private-brand products in stock, as well as more than 150,000 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 $10.4 billion in 2014, 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 Henry Schein at www.henryschein.com, Facebook.com/HenrySchein and @HenrySchein on Twitter.
Cautionary Note Regarding Forward-Looking Statements
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.
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 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; possible increases in the cost of shipping our products or other service issues with our third-party shippers; general global macro-economic conditions; disruptions in financial markets; possible 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; risks from challenges associated with the emergence of potential 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.
SOURCE Henry Schein, Inc.