Henry Schein Strengthens Dental Presence in Southeast France With Acquisition of Sogim Grimouille
MELVILLE, N.Y., May 10, 2011 /PRNewswire via COMTEX/ --
Henry Schein, Inc. (NASDAQ: HSIC), the largest provider of health care products and services to office-based practitioners, today announced it has acquired Sogim Grimouille, a full-service dental distribution company with headquarters in Marseille, France. Through this transaction, Henry Schein strengthens its dental presence in Southeast France. Financial terms of the transaction were not disclosed. Henry Schein expects this transaction to be neutral to the Company's 2011 diluted EPS.
Founded by the Martin-Dondoz family in 1923, Sogim Grimouille is a privately-held company, currently headed by its Chief Executive Officer, Jean Martin-Dondoz. The company provides consumables, artificial teeth, equipment and digital solutions to dental practitioners and dental laboratories. Sogim Grimouille has branch offices and showrooms in Marseille, Montpellier, Nice, Avignon and Perpignan, and had net sales of approximately euro 15 million in 2010. The company is the exclusive distributor of Sirona products for Southeast France, and has strong relationships with many other leading suppliers.
Mr. Martin-Dondoz will join the management team of Henry Schein France, contributing his vast experience in dental products and services, especially those that are technology-driven, as well as his team leadership and customer relationships across Southeast France.
"Sogim Grimouille has a long-standing and excellent reputation in Southeast France, and we are delighted to welcome Jean Martin-Dondoz and his colleagues to Team Schein," said Stanley M. Bergman, Chairman and Chief Executive Officer of Henry Schein. "While Henry Schein has served dental offices and laboratories in Southeast France since 1995, with Sogim Grimouille we look forward to further strengthening our presence throughout the region."
About Henry Schein's International Group
Henry Schein's International Group serves approximately 260,000 office-based dental, medical and animal health practices through operations or affiliates in Australia, Austria, Belgium, China, the Czech Republic, France, Germany, Hong Kong SAR, Iceland, Ireland, Israel, Italy, Luxembourg, the Netherlands, New Zealand, Portugal, Saudi Arabia, Slovakia, Spain, Switzerland, Turkey, the United Arab Emirates, and the United Kingdom. In addition, Schein Direct provides direct air package delivery service to practitioners in more than 200 countries around the world.
About Henry Schein, Inc.
Henry Schein, a Fortune 500® company and a member of the NASDAQ 100® Index, is the largest provider of health care products and services to office-based practitioners. The Company is recognized for excellent customer service and highly competitive prices. Henry Schein's five businesses -Dental, Medical, Animal Health, International and Technology - serve more than 700,000 customers worldwide, including dental practitioners and laboratories, physician practices and animal health practices, as well as government and other institutions.
The Company operates through a centralized and automated distribution network, which provides customers in more than 200 countries with a comprehensive selection of more than 90,000 national and Henry Schein private-brand products in stock, as well as more than 100,000 additional products available as special-order items. Henry Schein also provides exclusive, innovative technology offerings for dental, medical and veterinary professionals, including value-added practice management software and electronic health record solutions.
Headquartered in Melville, N.Y., Henry Schein employs more than 14,000 people and has operations or affiliates in 25 countries. The Company's net sales reached a record $7.5 billion in 2010. For more information, visit the Henry Schein Web site at www.henryschein.com.
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Risk factors and uncertainties that could cause actual results to differ materially from current and historical results include, but are not limited to: recently enacted healthcare legislation; effects of a highly competitive market; changes in the healthcare industry; changes in regulatory requirements; risks from expansion of customer purchasing power and multi-tiered costing structures; risks associated with our international operations; fluctuations in quarterly earnings; our dependence on third parties for the manufacture and supply of our products; transitional challenges associated with acquisitions, including the failure to achieve anticipated synergies; financial risks associated with acquisitions; regulatory and litigation risks; the dependence on our continued product development, technical support and successful marketing in the technology segment; risks from disruption to our information systems; general economic conditions; decreased customer demand and changes in vendor credit terms; disruptions in financial markets; our dependence upon sales personnel, manufacturers and customers; our dependence on our senior management; possible increases in the cost of shipping our products or other service issues with our third-party shippers; risks from rapid technological change; possible volatility of the market price of our common stock; 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.