Henry Schein acquired a majority ownership stake in French orthodontic products and services company Biotech Dental.
Henry Schein announced it has completed the acquisition of a majority ownership stake of Biotech Dental SAS, a provider of dental implants, clear aligners, and digital dental software based in Salon-de-Provence, France.
Biotech Dental offers several solutions, including Nemotec, a comprehensive, integrated suite of planning and diagnostic software that connects disparate medical devices to create a digital view of the patient.
The company manufactures custom abutments and implants, under the Kontact brand, and of clear aligners, under the Smilers brand.
It also launched LaGalaxy, a comprehensive, open, and secure software platform where both clinical and administrative tasks can be performed. Henry Schein and Biotech Dental are mutually invested in the growth of these businesses and the Biotech Dental brand globally.
“Together with our existing portfolio of software products, Henry Schein and Biotech Dental will create a digital workflow that provides a seamless journey for our customers to increase case acceptance and improve clinical outcomes for practitioners,” said Stanley M. Bergman, chairman of the board and chief executive officer of Henry Schein. “The integration of Biotech Dental’s software with Henry Schein One’s industry-leading practice management software solutions will help customers streamline their clinical as well as administrative workflow for the ultimate benefit of patients.”
Philippe Veran, Biotech Dental founder and president, will continue to lead the business, supported by Dr Olivia Veran, a dental surgeon who is the senior vice president and managing director. The company will maintain its own brands and go-to-market strategies. The founder will work closely with Henry Schein’s management team to advance the growth of the company’s software, implant, and orthodontics businesses globally.
As part of the transaction, Mr and Dr Veran will also become minority partners in Henry Schein Orthodontics.
“We are very pleased to complete our partnership with Henry Schein, a company that shares our commitment to provide dentists, orthodontists, and dental laboratories with the specialized tools they need to provide quality care to their patients,” said Phillipe Veran. “This investment marks a new chapter for our customers, who will benefit from the innovation and new technologies we will bring to the global dental community as well as access to a wide array of products and services available through Henry Schein.”
Under the terms of the transaction, Henry Schein acquired a majority ownership position in Biotech Dental. Upperside Capital Partners Group will continue to own the remaining minority interest in the company. For the fiscal year 2022, Biotech Dental’s revenue was approximately $100 million. Henry Schein expects this transaction to be slightly dilutive to 2023 earnings per share when excluding amortization expense primarily due to non-cash acquisition accounting adjustments for inventory. Financial terms were not disclosed.