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SOURCE Henry Schein, Inc.
MELVILLE, N.Y., Feb. 4, 2014 /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 substantially all assets of Lincoln Dental Supply from Keystone Industries, a worldwide leader and privately held group of dental, medical and veterinary manufacturing and distribution subsidiaries. Lincoln Dental Supply will become part of Zahn Dental, Henry Schein's dental laboratory distribution business. Zahn is the leading distributor to dental laboratories in North America.
Founded in 1909 and headquartered in Cherry Hill, N.J., Lincoln Dental Supply offers a wide range of dental products and equipment to dental laboratories within the United States and Canada. The company distributes branded products as well as Keystone's private-label line. In 2013, Lincoln Dental Supply had sales of approximately $18 million. Financial terms of the transaction were not disclosed.
"Lincoln Dental Supply is an excellent fit with our Zahn Dental business as each organization enjoys a long and highly respected history of serving dental laboratories," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "By combining these two leading companies, we further strengthen Zahn's presence in the North America dental laboratory market and expand our product offering in the important prosthetic segment of this business."
"We are very pleased to join Zahn Dental, a clear leader in the dental laboratory market," said Jeff DiBlasi, Vice President, Lincoln Dental Supply. "We look forward to our customers benefiting from the global resources we will provide as part of the Henry Schein family and to sharing best practices with our new colleagues."
This new agreement with Lincoln Dental Supply complements the advancement of Henry Schein's global dental laboratory distribution business. Earlier this month, as part of an agreement to strengthen its European dental and technology businesses, the Company announced an agreement to acquire Arseus Lab, a leading distributor of specialist products to dental laboratories in Benelux and France.
About Zahn Dental
Zahn Dental, a division of Henry Schein, is the largest distributor to dental laboratories in North America, and the world's largest distributor of removable prosthetic teeth and independent milling center. The business offers integrated solutions, cost-effective innovative products, breakthrough technologies and value-added services designed to enhance laboratory-management efficiency and profitability.
Zahn specialists, consultants, and technicians are highly trained to help laboratories achieve professional goals with unique solutions. Zahn bridges the gap between dental practices and dental laboratories by leveraging the full-service ConnectDental® platform that helps laboratories communicate more seamlessly with clinicians who embrace digital impressions and other digital workflow.
In 2014, Zahn received the Supplier of the Year Award by the National Association of Dental Laboratories (NADL) for its business approach and commitment to giving back to the industry while assisting customers to succeed in the fast-changing dental laboratory environment.
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 16,000 Team Schein Members and serves nearly 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 25 countries. The Company's sales reached a record $8.9 billion in 2012, and have grown at a compound annual rate of 17% since Henry Schein became a public company in 1995. For more information, visit the Henry Schein Web site at www.henryschein.com.
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. 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 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 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 rapid technological change; risks from disruption to our information systems; 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.
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