6/23/06
Henry Schein announced that it will acquire the assets of Island Dental Company Inc, Darby Medical Supply Company, and Darby Dental Laboratory Supply Company Inc, from privately held Darby Group Companies. The acquisition is expected to add approximately $0.01 to $0.03 to Henry Schein’s 2007 diluted EPS.
“The acquisition of these three businesses is an excellent match with Henry Schein’s US operations, and affords deeper penetration in our dental and medical divisions,” says Stanley M. Bergman, chairman and chief executive officer of Henry Schein. “Furthermore, Island Dental, Darby Medical Supply, and Darby Dental Laboratory Supply share with Henry Schein a customer-focused culture, with a commitment to personalized service and attention to detail. We also share a commitment to partnering with customers to facilitate their business and financial success, and to providing an extensive product offering at competitive prices.”
Island Dental is a full-service distributor of dental merchandise and equipment with a nationwide presence, with particular strength in the Northeast, Southeast and Western United States. It will be integrated into Henry Schein’s Sullivan-Schein Dental division.
Darby Medical Supply provides medical supplies and pharmaceutical products, including generic drugs, branded drugs, and vaccines, to small medical practices nationwide, primarily through telesales and direct marketing. Darby Medical Supply will become part of Henry Schein’s Medical Group.
Darby Dental Laboratory Supply is a full-line distributor serving the dental lab community nationwide, primarily through direct marketing. It will be integrated into Henry Schein’s Zahn Dental Laboratory division.
Henry Schein expects these transactions to close during the third quarter of 2006 and anticipates that upon integration it will realize operational efficiencies from the acquisition. The company indicated that the purchase price was approximately $51.5 million, to be paid in cash.
[www.henryschein.com, June 21, 2006]
