Henry Schein and Ondine Enter into Strategic Distribution Agreement
MELVILLE, N.Y.--(BUSINESS WIRE)--Dec. 13, 2004--Henry Schein, Inc. (Nasdaq:HSIC), the largest distributor of healthcare products and services to office-based practitioners in the combined North American and European markets and Ondine Biopharma Corporation (TSX:OBP)(AIM:OBP) announced today a strategic agreement in which Henry Schein will become the exclusive distributor of dental products utilizing Ondine's innovative, patented platform technology, PhotoDynamic Disinfection (PDD).
Under this agreement, Henry Schein will be the exclusive distributor for PhotocideX, a product requiring approval by the U.S. Food and Drug Administration (FDA) and the first product from the PDD platform developed for the periodontal disease market. PhotocideX is intended to be a fast-acting broad-spectrum disinfectant used along with current periodontal clinical procedures. After completion of appropriate regulatory processes for PhotocideX, Henry Schein will distribute the product in the United States, Canada, Australia, New Zealand and certain countries in Europe.
"Our PDD platform provides a basis for innovative therapeutics utilizing photodynamic inactivation of bacteria, virus and fungi," said Douglass Watson, President and Chief Executive Officer of Ondine Biopharma Corporation. "This approach promises a valuable clinical alternative to broad-spectrum antibiotic therapy, with the benefit of avoiding antibiotic resistance. Henry Schein is the ideal partner to help us communicate these important benefits to the dental community. Their global marketing expertise and reach will help us launch our first product, as well as next-generation products currently under development."
"Our new alliance supports a long-term initiative to develop and deliver innovative, high-quality products to clinicians and ultimately improve the level of healthcare worldwide," said Jim Breslawski, Executive Vice President, Henry Schein, and President, Sullivan-Schein, Henry Schein's U.S. Dental Business. "We are committed to offering our customers products and services that are at the forefront of medical and dental innovation. We look forward to working with Ondine Biopharma to introduce products developed from PDD technology in countries around the world."
About Ondine Biopharma Corporation, PDD and PhotocideX
Headquartered in Vancouver, British Columbia Canada, with research laboratories in Redmond, Washington USA, Ondine Biopharma Corporation is developing an innovative laser-activated approach to broad-spectrum disinfection, capitalizing on a decade of successful preclinical research. Antibiotic-resistant microorganisms are flourishing worldwide, prompting an intensive search for new antimicrobials that do not induce bacterial resistance. Ondine's PhotoDynamic Disinfection (PDD) is an innovative technology that employs laser activation of proprietary compounds in a photodynamic process to rapidly achieve high levels of broad-spectrum disinfection. This technique targets bacteria for rapid destruction without encouraging the formation and spread of bacterial resistance.
PhotocideX will be introduced into the multi-billion dollar market for treating periodontal disease as an adjunctive therapy to the traditional approach of scaling and root planing. For additional information, please visit the company's Web site at: www.ondinebiopharma.com.
About Henry Schein Inc.
Henry Schein, a Fortune 500(R) company, is recognized for its excellent customer service and highly competitive prices. The Company's four business groups -- Dental, Medical, International and Technology -- serve more than 450,000 customers worldwide, including dental practices and laboratories, physician practices and veterinary clinics, as well as government and other institutions. The Company's sales reached a record $3.4 billion in 2003. The Company operates through a centralized and automated distribution network, which provides customers in more than 125 countries with a comprehensive selection of over 90,000 national and Henry Schein private-brand products. Henry Schein also offers a wide range of innovative value-added practice solutions, including such leading practice management software systems as DENTRIX(R) and Easy Dental(R) for dental practices, and AVImark(R) for veterinary clinics, which are installed in over 50,000 practices; and ArubA(R), Henry Schein's electronic catalog and ordering system. Headquartered in Melville, N.Y., Henry Schein employs over 9,000 people in 17 countries. For more information, visit the Henry Schein Web site at www.henryschein.com.
In accordance with the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Company provides the following cautionary remarks regarding important factors which, 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 which may cause the Company's 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 the Company's operations and financial condition, including factors that may affect its business and future prospects, is contained in documents the Company has filed with the SEC and will be contained in all subsequent periodic filings made with the SEC. These documents identify, in detail, important risk factors that could cause the Company's actual performance to differ materially from current expectations.
Risk factors and uncertainties which could cause actual results to differ materially from current and historical results include, but are not limited to: competitive factors; changes in the healthcare industry; changes in government regulations that affect the Company; financial risks associated with the Company's international operations; fluctuations in quarterly earnings; transitional challenges associated with acquisitions; regulatory and litigation risks; the dependence on the Company's continued product development, technical support and successful marketing in the technology segment; the Company's dependence upon sales personnel and key customers; the Company's dependence on its senior management; the Company's dependence on third parties for the manufacture and supply of its products; possible increases in the cost of shipping the Company's products or other service trouble with the Company's third-party shippers; risks from rapid technological change; and risks from potential increases in variable interest rates.
The order in which these factors appear should not be construed to indicate their relative importance or priority. The Company cautions that these factors may not be exhaustive and that many of these factors are beyond the Company's ability to control or predict. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results. The Company undertakes no duty and has no obligation to update forward-looking statements.
CONTACT: Henry Schein, Inc.
Steven Paladino, 631-843-5500
email: steven.paladino@henryschein.com
or
Susan Vassallo, 631-843-5562
email: susan.vassallo@henryschein.com
SOURCE: Henry Schein, Inc.