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Henry Schein Completes Acquisition Of Medivet, Expands Animal Health Business To Poland

Stocks in this article: HSIC

MELVILLE, N.Y., April 2, 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, announced today that it has completed the acquisition of an approximate 80% ownership position in Medivet, a leading distributor of animal health products and services in Poland. This marks Henry Schein's first investment in Poland and increases to 26 the number of countries in which Henry Schein operates.

Medivet had 2013 sales of approximately $86 million and serves approximately 2,200 customers.  This transaction was first announced on November 14, 2013. 

"Medivet provides a strategic base for expansion in Eastern Europe's growing animal health market and the opportunity to work collaboratively with Henry Schein's other businesses in the region, in particular the Czech Republic," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "With an expanded geographic reach, we will provide further value to our supplier partners while bringing the widest array of supplies and value-added products to Medivet's customers, consistent with our goal of helping customers operate efficient, profitable businesses and provide high-quality care."

With Medivet, Henry Schein now serves veterinary customers in 12 European countries including Austria, Belgium, the Czech Republic, France, Germany, Holland, Ireland, Poland, Portugal, Spain, Switzerland and the United Kingdom.  The Company also has Animal Health businesses in the United States, Australia and New Zealand.  In 2013, Henry Schein's Global Animal Health business had sales of approximately $2.6 billion.

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 more than 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.

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