|By PR Newswire||
|December 31, 2013 07:20 AM EST||
MELVILLE, N.Y., Dec. 31, 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, today announced the completion of a 60% equity investment in BioHorizons, Inc., a U.S.-based manufacturer of advanced dental implant technology and tissue regeneration products sold globally. This transaction was first announced on November 26, 2013.
Together with the Company's investment in CAMLOG Biotechnologies AG, a leading manufacturer of dental implants in Europe, Henry Schein now has important positions in the U.S. and German implant markets, as well as a growing presence in the rest of the world. The investment in BioHorizons also strengthens Henry Schein's position and product portfolio in the biologics market, which is a critical adjunct to the implant market.
"With the completion of this strategic investment in BioHorizons we have advanced our dental specialties markets business strategy and now have a stronger presence in two of the world's largest markets for dental implants," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "Implant dentistry is a critical element of the profession's transition to digital dentistry, and customer demand for implants and the associated materials is expected to increase as digital processes are adopted and the patient's dental experience is enhanced."
"On behalf of the shareholders and management of BioHorizons, we are delighted with the closing of the transaction and the partnership with Henry Schein which combines BioHorizons' impressive growth with Henry Schein's global strengths," said Mortimer Berkowitz III, Chairman of BioHorizons and President of HealthpointCapital, LLC. "We look forward to working with Henry Schein and the BioHorizons team to strengthen our presence in the growing implant dentistry market by continuing to develop differentiated products for our customers."
BioHorizons is a leader in advanced dental implant technologies and tissue regeneration products in the dental implant industry. Based in Birmingham, Alabama, the company offers a broad spectrum of products for the replacement of missing teeth including dental implants, restorative and laboratory components, soft and hard tissue biologic products and surgical planning software.
BioHorizons' unique dental implant designs are recognized for intuitive design, excellent primary stability and high-end, aesthetic outcomes through the use of its proprietary Laser-Lok® microchannel surface technology. With 25 years of research and 30 published studies, Laser-Lok has been shown to uniquely achieve both bone and soft tissue attachment for long-term tissue maintenance. The company has six international subsidiaries and more than 50 distributors around the world. For more information, visit the BioHorizons Web site www.biohorizons.com.
About HealthpointCapital, LLC.
HealthpointCapital is a growth buyout private equity firm which is exclusively focused on the musculoskeletal sector. It was formed in 2002 and has $750 million in assets under management. It became a majority owner of BioHorizons through an acquisition of the Company in 2006. For more information, visit the HealthpointCapital Web site www.healthpointcapital.com
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 nearly 16,000 Team Schein Members and serves nearly 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.
Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 25 countries. The Company's sales reached a record $8.9 billion in 2012, and have grown at a compound annual rate of 17% since Henry Schein became a public company in 1995. For more information, visit the Henry Schein Web site at www.henryschein.com.
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. These statements are identified by the use of such terms as "may," "could," "expect," "intend," "believe," "plan," "estimate," "forecast," "project," "anticipate" or other comparable terms. A full discussion of our operations and financial condition, including factors that may affect our business and future prospects, is contained in documents we have filed with the SEC and will be contained in all subsequent periodic filings we make with the SEC. These documents identify in detail important risk factors that could cause our actual performance to differ materially from current expectations.
Risk factors and uncertainties that could cause actual results to differ materially from current and historical results include, but are not limited to: effects of a highly competitive market; our dependence on third parties for the manufacture and supply of our products; our dependence upon sales personnel, customers, suppliers and manufacturers; our dependence on our senior management; fluctuations in quarterly earnings; risks from expansion of customer purchasing power and multi-tiered costing structures; possible increases in the cost of shipping our products or other service issues with our third-party shippers; general global macro-economic conditions; disruptions in financial markets; possible volatility of the market price of our common stock; changes in the health care industry; implementation of health care laws; failure to comply with regulatory requirements and data privacy laws; risks associated with our global operations; transitional challenges associated with acquisitions and joint ventures, including the failure to achieve anticipated synergies; financial risks associated with acquisitions and joint ventures; litigation risks; the dependence on our continued product development, technical support and successful marketing in the technology segment; risks from rapid technological change; risks from disruption to our information systems; certain provisions in our governing documents that may discourage third-party acquisitions of us; and changes in tax legislation. The order in which these factors appear should not be construed to indicate their relative importance or priority.
We caution that these factors may not be exhaustive and that many of these factors are beyond our ability to control or predict. Accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. We undertake no duty and have no obligation to update forward-looking statements.
SOURCE Henry Schein, Inc.
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