- Source : Press Release
- Date : 2019-07-16
- Companies : Henry Schein, Inc.
Henry Schein Enters the Italian Dental Practice Management Software Market with Acquisition of Elite Computer Italia
MELVILLE, N.Y.--(BUSINESS WIRE)--Jul. 16, 2019-- Henry Schein, Inc. (Nasdaq: HSIC) today announced that Henry Schein One has acquired Elite Computer Italia S.r.L. (Elite), a full-service software company that delivers state-of-the-art practice management solutions to dental practices and dental laboratories in Italy. The addition of Elite complements Henry Schein One's strategy to deliver integrated technology platforms that help dental teams become more productive and improve each stage of the patient experience, and marks Henry Schein's entry into the Italian dental practice management software market.
Founded nearly 30 years ago with headquarters in Milan, Elite has approximately 50 employees, serves more than 8,000 dental clinics and dental laboratories, and had 2018 sales of approximately $6 million. Its OrisLine brand includes the OrisDent, OrisLab, OrisEduco, and OrisCeph Rx software products. Henry Schein expects that Elite will be neutral to the Company's 2019 earnings per diluted share and accretive thereafter. Financial terms were not disclosed.
“Having the right practice management system is one of the most essential facets of any successful dental practice. We have served dental practitioners in Italy since 2004 and are now well-positioned to offer the highly regarded OrisLine family of software products,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “We look forward to a strong partnership with Elite that will enable a true digital workflow to help dental teams streamline office procedures and make the most of their practice management investment.”
Co-Founders Gianluigi Boerio, CEO, and Marco Parodi, President, Research and Development, along with Elite's management team, will join Henry Schein One and bring significant experience in defining and delivering technology solutions. In addition, the OrisLine brand will be maintained and Henry Schein One will continue to offer and support all current Elite products following the acquisition.
“We are pleased to join Henry Schein One,” said Mr. Boerio. “This partnership expands our ability to offer our customers a comprehensive portfolio of practice management systems and web-based services to include a full complement of dental merchandise and equipment.”
“We are delighted to welcome co-founders Gianluigi Boerio and Marco Parodi and the entire Elite team to Henry Schein One,” said James A. Harding, Jr., Chief Executive Officer of Henry Schein One. “Our two companies share a commitment to innovation and transforming dentistry by ensuring practice success, improving patient experience, and increasing access to care. We firmly believe that the products, services, and solutions we deliver through our combined expertise will be instrumental to helping dental practices run smoothly, provide quality care, and attract new patients.”
About Henry Schein One
Henry Schein One, founded in 2018 as a joint venture between Henry Schein and Internet Brands, is a software company providing integrated software and services to the dental industry. Headquartered in American Fork, Utah, the company offers market-leading solutions for dental practices, including Dentrix, Dentrix Ascend, Dentrix Enterprise, Easy Dental, TechCentral, Demandforce, Sesame Communications, Lighthouse360, Officite, and DentalPlans.com as well as international companies, including Software of Excellence, Logiciel Julie, InfoMed, Exan, and LabNet, among others. For more information, visit www.henryscheinone.com.
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care professionals powered by a network of people and technology. With more than 19,000 Team Schein Members worldwide, the Company's network of trusted advisors provides more than 1 million customers globally with more than 300 valued solutions that improve operational success and clinical outcomes. Our Business, Clinical, Technology, and Supply Chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional health care clinics, as well as other alternate care sites.
Henry Schein operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.
A FORTUNE 500 Company and a member of the S&P 500® and the Nasdaq 100® indexes, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 31 countries. The Company's sales from continuing operations reached $9.4 billion in 2018, and have grown at a compound annual rate of approximately 13 percent since Henry Schein became a public company in 1995.
For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein, and @HenrySchein on Twitter.
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 United States Securities and Exchange Commission, or 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 and consolidating 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; increases in shipping costs for our products or other service issues with our third-party shippers; general global macro-economic conditions; risks associated with currency fluctuations; risks associated with political and economic uncertainty; disruptions in financial markets; 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; increased competition by third party online commerce sites; risks from disruption to our information systems; cyberattacks or other privacy or data security breaches; 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.
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Source: Henry Schein, Inc.
Executive Vice President and Chief Financial Officer
Vice President, Investor Relations
Ann Marie Gothard
Vice President, Corporate Media Relations