MELVILLE, N.Y., July 10, 2013 /PRNewswire/ -- Henry Schein, Inc. (NASDAQ: HSIC), the world's largest provider of health care products and services to office-based dental, medical and animal health practitioners, announced today that it has divested its investment in a dental wholesale distributor in the Middle East. The investment was an unprofitable, noncontrolling interest in an entity that primarily served as an importer that distributed products largely to other distributors.
The divestiture is expected to generate a one-time charge in the range of $11 million to $13 million, or 13 cents to 15 cents per diluted share, in the third quarter of 2013. Henry Schein will show third quarter earnings results excluding the impact of this loss in order to provide more meaningful year-on-year comparisons of the Company`s core financial performance.
" Henry Schein's strategic plan is focused on growing our presence as the leading global distributor of products and related value added services in the market segments we serve," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "As part of that plan, we have elected to divest our interest in this non-core holding to further align our investments targeting our primary customer base, the office-based practitioner."
About Henry Schein, Inc.Henry Schein, Inc. is the world's largest provider of health care products and services to office-based dental, medical and animal health 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 15,500 Team Schein Members and serves more than 775,000 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.