Henry Schein (Nasdaq:HSIC) announced right now that it signed a definitive arrangement to acquire Condor Dental Investigation Enterprise.
Vouvry, Switzerland-based mostly Condor Dental, a privately held dental distribution business, serves dental standard practitioners, specialists and laboratories.
Melville, New York-centered Henry Schein has served the Swiss dental implant sector by Camlog Biotechnologies GmbH, a member of the World wide Oral Reconstruction Group (a Basel, Switzerland-dependent division of the organization). The firm reported in a information release that including Condor Dental will increase its entry into the Swiss market place for dental distribution.
Condor Dental brought in income of around $18 million in 2021, with the bulk coming from dental consumable merchandise. The company will be part of Henry Schein’s worldwide distribution team after the transaction closes and the small business will continue to function less than COO Yves Mailliard’s guide.
“We search ahead to welcoming the Condor Dental team to the Henry Schein loved ones,” Chair and CEO Stanley M. Bergman mentioned in the release. “Our businesses share the very same values and emphasis on providing an exceptional customer practical experience. Condor presents a detailed products portfolio and has a number of possibilities for progress in one particular of Europe’s most desirable dental markets. This transaction is a prime example of Henry Schein’s long-standing determination to strategic acquisitions that enable us to greater provide prospects and broaden our extensive selection of products and solutions and expert services that assist the shipping and delivery of large-excellent dental care.”
The enterprise will obtain Condor from MCCB Keeping Sarl. Henry Schein expects the transaction to be neutral to its 2022 diluted earnings for every share and accretive thereafter. Economical phrases ended up not exposed.
“Condor Dental is a extremely regarded corporation that has been serving dental specialists for extra than 40 several years and will nicely complement our European dental enterprise,” Henry Schein Worldwide Distribution Group President Andrea Albertini said. “With the assist of Henry Schein’s operational know-how, Condor Dental will be better resourced to strengthen its situation in the marketplace and enhance the amount of companies and answers presented to dental practitioners. For Henry Schein, we will have a important opportunity through this new partnership to develop our presence into Switzerland and to provide our complete portfolio of know-how and worth-extra options to the Swiss dental group.”