Henry Schein, Inc. (NASDAQ: HSIC), the world's largest provider of healthcare products and services to office-based dental, animal health and medical practitioners, today announced the signing of an agreement that will further strengthen its European dental and technology businesses. Under the agreement, the Company will acquire 100 percent ownership of five businesses operating in three European countries from Arseus NV (EBR: RCUS). Together, the dental practice management software company and the dental and lab distribution companies represent annual sales of approximately $97 million (€70 million). Henry Schein did not disclose financial terms of the transaction.
The businesses are as follows:
- Logiciel Julie is the leading dental practice management software company in France with more than 8,000 installed systems. Logiciel Julie has headquarters in Croissy-Beaubourg (Marne-la-Vallee), France, and has annual sales of approximately $7.9 million (€5.7 million).
- Arcade Dentaire is a leading distributor of dental equipment, related consumables and IT solutions. With headquarters in Rennes, France, Arcade Dentaire has served practitioners in Western France for more than 20 years and is the exclusive distributor for a number of premier dental manufacturers in this region, including Sirona. Arcade Dentaire has annual sales of approximately $11.0 million (€8 million).
- Arseus Dental Solutions BV is a leading distributor of dental equipment, related consumables and IT solutions to dental practices and universities in the Netherlands. Arseus Dental Solutions has headquarters in Waalwijk, the Netherlands, and has annual sales of approximately $14.1 million (€10.2 million).
- Arseus Dental Solutions NV is a leading distributor of dental equipment, related consumables and IT solutions to dental practices and universities in Belgium. With headquarters in Waregem, Belgium, Arseus Dental Solutions has annual sales of approximately $10.9 million (€7.9 million).
- Arseus Lab is a leading distributor of specialist products to dental laboratories in Benelux and France. The company has headquarters in Waregem, Belgium, and features a full product and service offering including teeth, precious metals, alloys, supplies and equipment. Arseus Lab offers the latest innovations in CAD/CAM product solutions and services to dental laboratories, as well as the Ceka Preci-Line, its own private-label brand of attachments. These attachments are distributed globally. Arseus Lab has annual sales of approximately $52.7 million (€38.2 million).
"The Arseus businesses operate in attractive markets with good growth prospects, and have achieved strong market positions and excellent brand value. Each of the four distribution companies has exclusive relationships with top-tier manufacturers, Arseus Lab offers best-in-class private-label products and Julie is the leading dental software product in France. We look forward to welcoming nearly 230 new Team Schein Members including industry leaders, highly skilled sales and technical teams and top software engineers," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein.
"Arseus and Henry Schein share a commitment to superior customer service, advanced logistics, operational excellence, industry leadership and innovative, value-added solutions," added Mr. Bergman. "Each company is an excellent business and cultural fit with Henry Schein, and we look forward to leveraging global best practices and operating efficiencies across our expanded European dental presence."
