Henry Schein Inc, Melville, NY, is set to acquire a majority ownership interest in Dental Cremer SA, a distributor of dental supplies and equipment in Brazil.
Headquartered in Blumenau, Brazil, Dental Cremer is the dental distribution business of Cremer SA. In 2015, the company had approximately $70 million in sales and served about 60,000 dental practitioners across Brazil. The company has 530 staff members.
Henry Schein expects the transaction to be neutral to its 2016 earnings per share and accretive to its 2017 earnings per share by $0.01-$0.02. Completion of the transaction is subject to regulatory approval and other conditions, and it is expected to close in the first half of 2016.
“As Brazil’s dental market grows, fueled by an aging population and an expanding middle class, Henry Schein and Dental Cremer share a commitment to helping practitioners in Brazil operate successful practices and provide quality care to patients,” said Stanley M. Bergman, chairman of the board and chief executive officer of Henry Schein. “We look forward to welcoming the Dental Cremer team to Team Schein.”
Paulo Batista, chief executive officer of Dental Cremer, and other members of Dental Cremer’s management team will retain an ownership interest in the company. Batista will continue to lead the business as managing director.
“Henry Schein has demonstrated its steadfast commitment to serving the needs of dental practitioners and the patients they serve throughout the world for more than eight decades,” said Batista. “We look forward to drawing on Henry Schein’s impressive global resources to strengthen the foundation that Dental Cremer has built.”
Henry Schein first entered the Brazilian dental market in 2014. Upon closing, Dental Cremer will become part of Henry Schein’s Global Dental business.
