Nov. 14, 2013
/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, announced today that it has signed a definitive agreement to acquire an 80% ownership position in privately-held Medivet S.A., a leading distributor of animal health products and services in
, with sales in 2012 of approximately
expects the transaction to be dilutive to its earnings per share by approximately
in its initial year and accretive by
in the following year. The transaction, subject to approval by
competition and tax authorities, is expected to close in the first quarter of 2014. Financial terms of the transaction were not disclosed.
Headquartered in Srem,
, Medivet was founded in 1992 by
, Chairman of Medivet's Supervisory Board. The company serves approximately 2,200 animal health customers across
and has approximately 250 employees. Mr. Trojanek, along with
, Chairman of Medivet's Management Board, and other members of Medivet's management team will hold the remaining shares of the company.
"We are delighted to enter the Polish animal health market in a position of leadership and look forward to welcoming Medivet's highly regarded founder,
, and his colleagues to
Stanley M. Bergman
, Chairman of the Board and Chief Executive Officer of
. "With this expanded geographic reach, we anticipate providing additional value to our supplier partners while ensuring Medivet's customers have access to the widest array of supplies and value-added products for operating efficient and profitable businesses while delivering high-quality care."
The Medivet transaction will increase to 12 the number of European countries where
animal health business has operations. Medivet will provide a strategic base for expansion in
and the opportunity to work collaboratively with Henry Schein's existing businesses in the region, particularly in the
superior track record for serving animal health practitioners has been demonstrated across
and Australasia," said Mr. Trojanek. "
has a clear commitment to set the standard for excellence in meeting the practice needs of veterinarians, and we look forward to drawing on these impressive global resources to build on the firm foundation that Medivet has built here in
currently serves veterinary customers in
the United States
and the following European countries:
, and the
. Henry Schein's Global Animal Health business has annual sales of more than
About Henry Schein, Inc.
, 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,
employs nearly 16,000 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.
operates through a centralized and automated distribution network, with a selection of more than 96,000 branded products and
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.
has operations or affiliates in 25 countries. The Company's sales reached a record
in 2012, and have grown at a compound annual rate of 17% since
became a public company in 1995. For more information, visit the Henry Schein Web site at
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.