Henry Schein, Inc. Acquires Integra Medical
MELVILLE, N.Y.--(BUSINESS WIRE)--May 31, 2000--
Strategically Enhances Its DENTRIX Digital Technology Solution
Sullivan-Schein Dental Will be Exclusive Dental Dealer to Offer
Vipersoft(R)2000
Henry Schein, Inc. (NASDAQ: HSIC) announced today that it has acquired California-based Integra Medical, the number one rated manufacturer of digital imaging software and technology products for the dentist, according to a leading independent research laboratory. Integra's Vipersoft(R) is one of the dental industry's most advanced digital imaging software products, and features an easy link to a variety of other digital technologies.
The acquisition will be accounted for as a pooling transaction --terms of which were not disclosed. Henry Schein expects the transaction to be neither accretive nor dilutive to its 2000 earnings, but expects it to be accretive in 2001. Integra Medical had 1999 annual sales of $4.1 million.
"Digital technologies will play an increasingly important role in dentistry's future, and the acquisition of Integra Medical significantly enhances Henry Schein's position as a world leader in digital dentistry," said Stanley M. Bergman, Chairman, Chief Executive Officer and President of Henry Schein. "With Integra, we have strengthened our overall practice management technology strategy, which is to offer the best single-source digital software solution for the professional practice, and now provide embedded integration of their accounting, clinical and imaging needs."
Mr. Bergman continued, "Integra's knowledge and expertise will allow us to effectively and expeditiously expand our product line and services in the digital imaging marketplace."
Integra's team of engineers have been together since 1988 and have developed dental technology in use by over 25,000 dentists in the United States. Integra's four founders, who will remain active in the business, have over 40 years of combined dental technology experience and have extensive knowledge of video imaging, image management, and digital x-ray.
Integra will become part of Henry Schein's Technology Group. Dentrix Dental Systems, a subsidiary within the Technology Group, markets DENTRIX(R) and Easy Dental(R) software, which are the best-selling clinical and practice management software products in the dental industry. To date, over 35,000 of these systems have been installed.
"The healthcare market is one of the fastest growing markets for digital technologies, and the synergies between Integra, Henry Schein and Dentrix Dental Systems are key to providing totally integrated, world class, digital product solutions for dental professionals," said Jim Morandi, President of Integra Medical. "We are very proud to be a member of the winning team."
"For Henry Schein's DENTRIX customers, the Vipersoft technology will be embedded in the DENTRIX imaging system, resulting in a seamless integration of all functions of the practice. Intraoral photography and digital x-ray are now part of the DENTRIX product offering, allowing us to provide the dentist with a single source for service and support of their technology systems," said Mr. Bergman.
In addition, Henry Schein's U.S Dental subsidiary, Sullivan-Schein Dental(R), will be the exclusive dental distributor of Vipersoft in the United States, and will market the software product through its dedicated hi-tech field sales force. "Vipersoft will be the cornerstone of Sullivan-Schein's digital product offering," said Mr. Bergman. "Our customers will have the freedom of choice with Vipersoft's open architecture system, which gives dentists greater flexibility and expandability, as it is a universal software solution that features connectivity to the wide range of other hi-tech products offered through Sullivan-Schein."
Henry Schein, Inc. is the largest distributor of healthcare products and services to office-based healthcare practitioners in the combined North American and European markets. Customers include dental practices and laboratories, physician practices and veterinary clinics, as well as government and other institutions. The Company, recognized for its excellent customer service and low prices, serves more than 400,000 customers worldwide.
Headquartered in Melville, New York, the Company employs over 6,500 people in 15 countries. Sales in 1999 were $2.3 billion. For more information, visit the Henry Schein website at www.henryschein.com.
CONTACT: Henry Schein, Inc.
Steven Paladino
Executive Vice President &
Chief Financial Officer
631/843-5500
or
Susan Vassallo
Manager, Investor and Public Relations
631/843-5562
svassa@henryschein.com