Press Release Details

MELVILLE, N.Y., June 3, 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 acquired Sirona Direct, the France dental distribution business of Sirona Dental Systems, Inc. (NASDAQ: SIRO). With sales of approximately $14 million, Sirona Direct is the exclusive distributor of dental equipment for Sirona Dental Systems in Paris and Normandy. In addition to its acquisition of Sirona Direct, Henry Schein has entered into an exclusive distribution agreement with Sirona Dental Systems for the promotion and distribution of Sirona's full line of dental equipment, including the CEREC CAD/CAM system, to practitioners in most of France, including the Paris region.

Over the past several years, Henry Schein has acquired other businesses in France with exclusive regional distribution agreements for products manufactured by Sirona Dental Systems.  These acquisitions, coupled with the acquisition and distribution agreements announced today, establish Henry Schein as Sirona Dental Systems' exclusive distributor to practitioners across most of France.   

"We are pleased to exclusively represent Sirona's high-quality, innovative products across the vast majority of France," said Vincent Junod, Vice President, Henry Schein Europe Dental, Western Region, and Managing Director, Henry Schein France. "France is an important and growing dental market, and Henry Schein is committed to providing the French dental community with a comprehensive offering to meet all of its practice needs.  Sirona's innovative products are an important part of our ConnectDental® platform, which is designed to bring the latest digital dental solutions to the practitioners we serve in this quickly changing dental marketplace."

Sirona Direct has headquarters in Paris and a showroom in Rouen.  The company will become part of Henry Schein France, which has served dental practitioners in the country for more than two decades. Financial terms of the transactions were not disclosed. Henry Schein expects the transactions to be neutral to its earnings per share for the balance of 2014.

France is one of the largest European markets for dental products, with approximately 36,000 dentists serving a population of approximately 65.7 million people. 

Henry Schein's dental business is the leading global provider of products and services, including innovative digital dental technology solutions, to office-based general dental practitioners, dental specialists and dental laboratories.  The Company serves its customers through a multifaceted sales and marketing approach that includes more than 2,600 dedicated field sales consultants, product specialists, telesales representatives and direct-marketing programs.  Henry Schein's global dental business had 2013 sales of $5 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 nearly 17,000 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.

Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 27 countries.  The Company's sales reached a record $9.6 billion in 2013, and have grown at a compound annual rate of approximately 16 percent since Henry Schein became a public company in 1995.  For more information, visit the Henry Schein website 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 challenges associated with the emergence of potential increased competition by third party online commerce sites; 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.

Investors: Steven Paladino, Executive Vice President and Chief Financial Officer, steven.paladino@henryschein.com, (631) 843-5500, Carolynne Borders, Vice President, Investor Relations, carolynne.borders@henryschein.com, (631) 390-8105; Media: Susan Vassallo, Vice President, Corporate Communications, susan.vassallo@henryschein.com, (631) 843-5562