Henry Schein to Purchase Condor Dental, Broaden Dental Gross sales and Service Operations in Switzerland

Delly Bezoss

MELVILLE, N.Y.–(BUSINESS WIRE)–Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest supplier of well being care options to office-based dental and medical practitioners, right now introduced that it has signed a definitive settlement to accumulate Condor Dental Analysis Firm SA (Condor Dental), a privately held dental distribution firm that serves dental common practitioners, specialists, and laboratories in Switzerland.

Since 2004, Henry Schein has served the Swiss dental implant market by means of Camlog Biotechnologies GmbH, a member of the World Oral Reconstruction Group, a Basel-based division of Henry Schein, Inc. and a worldwide chief in dental implants, biomaterials, and oral reconstruction. The addition of Condor Dental will develop Henry Schein’s entry into the Swiss marketplace for its dental distribution enterprise.

Condor Dental is predicated in Vouvry, Switzerland, and was established in 1978. Gross sales for 2021 had been roughly $18 million, the vast majority of which had been from dental consumable merchandise, with additional income from the customization of dental practices and dental laboratory installations. As soon as the transaction closes, Condor Dental will be part of Henry Schein’s Worldwide Distribution Group, and the enterprise will proceed to be led by Yves Mailliard, Condor’s Chief Working Officer.

“We look ahead to welcoming the Condor Dental crew to the Henry Schein household,” mentioned Stanley M. Bergman, Chairman of the Board and Chief Govt Officer of Henry Schein. “Our corporations share the identical values and emphasis on delivering an distinctive buyer expertise. Condor gives a complete product portfolio and has a number of alternatives for progress in one in all Europe’s most engaging dental markets. This transaction is a major instance of Henry Schein’s long-standing dedication to strategic acquisitions that enable us to raised serve prospects and broaden our huge collection of services and products that help the supply of high-quality dental care.”

Henry Schein will purchase Condor Dental from MCCB Holding Sarl, a well being care holding firm that’s wholly owned by the Libon household. This transaction is anticipated to be impartial to Henry Schein’s 2022 diluted earnings per share and to be accretive thereafter. Monetary phrases weren’t disclosed.

“Condor Dental is a extremely regarded firm that has been serving dental professionals for greater than 40 years and can properly complement our European dental enterprise,” mentioned Andrea Albertini, President of Henry Schein’s Worldwide Distribution Group. “With the help of Henry Schein’s operational experience, Condor Dental shall be higher resourced to strengthen its place within the market and enhance the extent of companies and options supplied to dental practitioners. For Henry Schein, we can have a major alternative by means of this new partnership to develop our presence into Switzerland and to deliver our complete portfolio of expertise and value-added options to the Swiss dental neighborhood.”

About Henry Schein, Inc.

Henry Schein, Inc. (Nasdaq: HSIC) is a options firm for well being care professionals powered by a community of individuals and expertise. With almost 22,000 Team Schein Members worldwide, the Firm’s community of trusted advisors supplies greater than 1 million prospects globally with greater than 300 valued options that assist enhance operational success and medical outcomes. Our Enterprise, Medical, Know-how, and Provide Chain options assist office-based dental and medical practitioners work extra effectively to allow them to present high quality care extra successfully. These options additionally help dental laboratories, government and institutional health care clinics, in addition to different alternate care websites.

Henry Schein operates by means of a centralized and automatic distribution community, with a collection of greater than 120,000 branded merchandise and Henry Schein private-brand merchandise in inventory, in addition to greater than 180,000 extra merchandise out there as special-order objects.

A FORTUNE 500 Firm and a member of the S&P 500® index, Henry Schein is headquartered in Melville, N.Y., and has operations or associates in 32 international locations and territories. The Firm’s gross sales reached $12.4 billion in 2021, and have grown at a compound annual price of roughly 12.5 p.c since Henry Schein turned a public firm in 1995.

For extra data, go to Henry Schein at www.henryschein.com, Facebook.com/HenrySchein, Instagram.com/HenrySchein, and Twitter.com/HenrySchein.

Cautionary Notice Concerning Ahead-Trying Statements

In accordance with the “Secure Harbor” provisions of the Personal Securities Litigation Reform Act of 1995, we offer the next cautionary remarks concerning necessary components that, amongst others, may trigger future outcomes to vary materially from the forward-looking statements, expectations and assumptions expressed or implied herein. All forward-looking statements made by us are topic to dangers and uncertainties and will not be ensures of future efficiency. These forward-looking statements contain identified and unknown dangers, uncertainties and different components which will trigger our precise outcomes, efficiency and achievements or trade outcomes to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. These statements embody EPS steering and are typically recognized by means of such phrases as “could,” “may,” “count on,” “intend,” “imagine,” “plan,” “estimate,” “forecast,” “venture,” “anticipate,” “to be,” “to make” or different comparable phrases. A fuller dialogue of our operations, monetary situation and standing of litigation issues, together with components which will have an effect on our enterprise and future prospects, is contained in paperwork now we have filed with the USA Securities and Alternate Fee, or SEC, together with our Annual Report on Type 10-Ok, and shall be contained in all subsequent periodic filings we make with the SEC. These paperwork establish intimately necessary danger components that might trigger our precise efficiency to vary materially from present expectations. Ahead wanting statements embody the general affect of the Novel Coronavirus Illness 2019 (COVID-19) on the Firm, its outcomes of operations, liquidity and monetary situation (together with any estimates of the affect on these things), the speed and consistency with which dental and different practices resume or preserve regular operations in the USA and internationally, expectations concerning PPE and COVID-19 associated product gross sales and stock ranges, whether or not extra resurgences or variants of the virus will adversely affect the resumption of regular operations, whether or not vaccine mandates will adversely affect the Firm (by disrupting our workforce and/or enterprise), whether or not provide chain disruptions will adversely affect our enterprise, the affect of restructuring packages in addition to of any future acquisitions, and extra typically present expectations concerning efficiency in present and future durations. Ahead wanting statements additionally embody the (i) skill of the Firm to have continued entry to a wide range of COVID-19 check varieties, expectations concerning COVID-19 check gross sales, demand and stock ranges, in addition to the efficacy or relative efficacy of the check outcomes provided that the check efficacy has not been, or won’t have been, independently verified underneath regular FDA procedures and (ii) potential for the Firm to distribute the COVID-19 vaccines and ancillary provides.

Danger components and uncertainties that might trigger precise outcomes to vary materially from present and historic outcomes embody, however will not be restricted to: dangers related to COVID-19 and any variants thereof, in addition to different illness outbreaks, epidemics, pandemics, or comparable wide-spread public well being issues and different pure disasters; our dependence on third events for the manufacture and provide of our merchandise; our skill to develop or purchase and preserve and defend new merchandise (significantly expertise merchandise) and applied sciences that obtain market acceptance with acceptable margins; transitional challenges related to acquisitions, inclinations and joint ventures, together with the failure to realize anticipated synergies/advantages; monetary and tax dangers related to acquisitions, inclinations and joint ventures; sure provisions in our governing paperwork which will discourage third-party acquisitions of us; results of a extremely aggressive (together with, with out limitation, competitors from third-party on-line commerce websites) and consolidating market; the repeal or judicial prohibition on implementation of the Inexpensive Care Act; modifications within the well being care trade; dangers from enlargement of buyer buying energy and multi-tiered costing buildings; will increase in delivery prices for our merchandise or different service points with our third-party shippers; common world macro-economic and political situations, together with worldwide commerce agreements, potential commerce obstacles and terrorism; failure to adjust to current and future regulatory necessities; dangers related to the EU Medical System Regulation; failure to adjust to legal guidelines and rules regarding well being care fraud or different legal guidelines and rules; failure to adjust to legal guidelines and rules regarding the gathering, storage and processing of delicate private data or requirements in digital well being information or transmissions; modifications in tax laws; dangers associated to product legal responsibility, mental property and different claims; litigation dangers; new or unanticipated litigation developments and the standing of litigation issues; dangers related to customs insurance policies or legislative import restrictions; cyberattacks or different privateness or knowledge safety breaches; dangers related to our world operations; our dependence on our senior administration, worker hiring and retention, and {our relationships} with prospects, suppliers and producers; and disruptions in monetary markets. The order by which these components seem shouldn’t be construed to point their relative significance or precedence.

We warning that these components will not be exhaustive and that many of those components are past our skill to regulate or predict. Accordingly, any forward-looking statements contained herein shouldn’t be relied upon as a prediction of precise outcomes. We undertake no responsibility and don’t have any obligation to replace forward-looking statements.

https://www.businesswire.com/information/house/20220606005647/en/Henry-Schein-to-Purchase-Condor-Dental-Broaden-Dental-Gross sales-and-Service-Operations-in-Switzerland

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