MELVILLE, N.Y., Feb. 20, 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, 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."
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 19,000 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 110,000 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 $10.6 billion in 2015, 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.
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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 currency fluctuations; risks associated with political and economic uncertainty; 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.
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SOURCE Henry Schein, Inc.