Henry Schein to Become Exclusive Distributor for the i-CAT and All Other Imaging Sciences International Products; New Agreement Extends Company's Dental Digital Imaging Portfolio with Advanced i-CAT Cone Beam 3-D Imaging System
MELVILLE, N.Y.--(BUSINESS WIRE)--July 19, 2006--Henry Schein, Inc. (NASDAQ: HSIC), the largest provider of healthcare products and services to office-based practitioners in the combined North American and European markets, today announced an exclusive distribution agreement with Imaging Sciences International, Inc., a market leader in the development and manufacturing of advanced dental radiography products and 3-D diagnostic imaging technology. The agreement will expand Henry Schein's diagnostic imaging technology offerings within the United States and Canada. Imaging Sciences reported sales of $25 million in 2005 in the United States and Canada.
Imaging Sciences' products provide enhanced imaging speed and accuracy, enabling dentists to create more anatomically accurate treatment plans, leading to successful surgical procedures and an overall higher quality of patient care. The company's flagship offering--the i-CAT Cone Beam 3-D Imaging System--offers advantages over traditional X-ray machines, including; in-office CT scanning; better case management; less radiation; and advanced diagnostic data. This data is transferred to a computer, typically within minutes, and displayed on a 3-D mapping tool that allows dentists and technicians to easily format and select images for immediate viewing and diagnosis.
"There is no question that 3-D digital imaging is a key element of the technology-driven dental office of the future," said Stanley M. Bergman, Chairman and Chief Executive Officer of Henry Schein. "Imaging Sciences International is helping to set the standard for leadership in this growing market, and we are proud to have been selected as their exclusive distributor throughout the United States and Canada."
"In two years our Imaging Sciences sales force has taken the i-CAT and 3-D imaging from the concept stage to a market leadership position in the dental industry," said Christopher Scharff, Vice President of Sales for Imaging Sciences International. "We are thrilled to be working with the Henry Schein organization and believe that they are the most qualified and experienced company to take our imaging system into mainstream distribution. We are committed to join forces with Henry Schein and share our knowledge of this technology as we achieve great success and bring 3-D imaging to dentists across the country."
"Henry Schein's impressive track record of success in reaching the dental community and communicating the practice benefits of technology-driven products make the company the ideal partner," said Edward Marandola, President and CEO of Imaging Sciences International. "We are confident that our 3-D imaging system can enhance dental practices by enabling practitioners to provide higher quality care with the most advanced in-office imaging capabilities. We are looking forward to this exclusive distribution agreement as a way to further build on our past success and take full advantage of future opportunities."
About Imaging Sciences International
Serving the dental industry since 1992, Imaging Sciences International is a global leader in the development and manufacturing of the most advanced computer controlled dental and maxillofacial radiography products in the world. The company's marquee products provide dentists and other health care professionals with on-site, state-of-the-art imaging that extends quality of care and provides more predictable treatment outcomes. The Panorex CMT provides state-of-the-art panoramic imaging, as well as complex motion tomography for implant and TM Joint imaging; and the i-CAT(TM) Cone Beam 3-D Dental Imaging System offers 3-D imaging technology at a significantly lower cost and less radiation than traditional CT scans.
Imaging Sciences is recognized internationally by leading dentists and radiologists as one of the most innovative companies in the world. Learn more about Imaging Sciences' cutting edge technologies at www.imagingsciences.com or www.i-cat.com
About Henry Schein
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 500,000 customers worldwide, including dental practices and laboratories, physician practices and veterinary clinics, 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 70,000 national and Henry Schein private-brand products in stock, as well as over 100,000 additional products available to our customers as special order items.
Henry Schein also offers a wide range of innovative value-added practice solutions for healthcare professionals, such as ArubA(R), the Company's electronic catalog and ordering system. Its leading practice-management software solutions have been installed in more than 50,000 practices, including DENTRIX(R) and Easy Dental(R) for dental practices, and AVImark(R) for veterinary clinics.
Headquartered in Melville, N.Y., Henry Schein employs nearly 11,000 people and has operations in 19 countries. The Company's sales reached a record $4.6 billion in 2005. 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, we provide 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 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: competitive factors; changes in the healthcare industry; changes in government regulations that affect us; financial 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; regulatory and litigation risks; the dependence on our continued product development, technical support and successful marketing in the technology segment; our dependence upon sales personnel and key customers; our dependence on our senior management; possible increases in the cost of shipping our products or other service trouble with our third-party shippers; risks from rapid technological change; risks from potential increases in variable interest rates; financial risks associated with acquisitions; 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 that affect us. 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, forward-looking statements should not be relied upon as a prediction of actual results. We undertake no duty and have no obligation to update forward-looking statements.
CONTACT: Henry Schein, Inc.
Steven Paladino, 631-843-5500
steven.paladino@henryschein.com
or
Corporate Communications:
Susan Vassallo, 631-843-5562
susan.vassallo@henryschein.com
or
For Imaging Sciences
Alicia Buonanno, 610-642-8253 ext. 118 or 610-659-9404
Alicia@Gregoryfca.com
SOURCE: Henry Schein, Inc.