Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical practitioners, today announced it has completed the acquisition of a majority ownership stake of Biotech Dental S.A.S., a rapidly growing provider of dental implants, clear aligners, and innovative digital dental software based in Salon-de-Provence, France. The transaction was announced on December 16, 2022.
Biotech Dental has several important solutions, including Nemotec, a comprehensive, integrated suite of planning and diagnostic software using open architecture that connects disparate medical devices to create a digital view of the patient, offering greater diagnostic accuracy and an improved patient experience. Biotech Dental is also one of the fastest-growing manufacturers in France of custom abutments and implants, under the Kontact™ brand, and of clear aligners, under the Smilers® brand. In addition, Biotech Dental has launched LaGalaxy®, a comprehensive, open, and secure software platform where both clinical and administrative tasks can be performed. Within a single platform, dentists and dental laboratories benefit from end-to-end integrated digital solutions that help improve case outcomes while speeding treatment time, shortening case completion, and lowering the costs of implants, orthodontic, and prosthetic treatments. Henry Schein and Biotech Dental are mutually invested in the growth of these businesses and the Biotech Dental brand globally.
“We at Henry Schein welcome our new Biotech Dental colleagues and are most excited about the opportunity to bring Biotech Dental’s software products to our customers,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “Together with our existing portfolio of software products, Henry Schein and Biotech Dental will create a digital workflow that provides a seamless journey for our customers to increase case acceptance and improve clinical outcomes for practitioners. The integration of Biotech Dental’s software with Henry Schein One’s industry-leading practice management software solutions will help customers streamline their clinical as well as administrative workflow for the ultimate benefit of patients. We are also very enthusiastic to partner with Biotech Dental to advance the global adoption of their outstanding product portfolio of implants and our combined portfolio of clear aligners and clinical workflow software.”
Philippe Veran, Biotech Dental Founder and President, will continue to lead the business, supported by Dr. Olivia Veran, a dental surgeon who is Biotech Dental's Senior Vice President and Managing Director. Biotech Dental will maintain its own brands and go-to-market strategies. Mr. Veran will work closely with Henry Schein’s management team to advance the growth of the Company’s software, implant, and orthodontics businesses globally.
As part of the transaction, Mr. and Dr. Veran will also become minority partners in Henry Schein Orthodontics. This alignment enables Henry Schein and Biotech Dental to offer a best-in-class, comprehensive set of orthodontic solutions to its combined customer base, including software, aligners, and traditional orthodontic appliances.
“We are very pleased to complete our partnership with Henry Schein, a company that shares our commitment to provide dentists, orthodontists, and dental laboratories with the specialized tools they need to provide quality care to their patients,” said Mr. Veran. “This investment marks a new chapter for our customers, who will benefit from the innovation and new technologies we will bring to the global dental community as well as access to a wide array of products and services available through Henry Schein.”
Under the terms of the transaction, Henry Schein acquired a majority ownership position in Biotech Dental. Upperside Capital Partners Group will continue to own the remaining minority interest in the company. For the fiscal year 2022, Biotech Dental’s revenue was approximately $100 million. Henry Schein expects this transaction to be slightly dilutive to 2023 earnings per share when excluding amortization expense primarily due to non-cash acquisition accounting adjustments for inventory. Financial terms were not disclosed.
About Biotech Dental Group
Biotech Dental is one of the largest providers of end-to-end dental solutions. For more than 35 years, the company has been designing and manufacturing a full range of dental implants, implant treatment planning software, orthodontic aligners, regenerative products and digital dentistry solutions. Its products are designed to help dentists achieve better outcomes for their patients, enhance their surgical skills, and maximize business success. Biotech Dental achieves these goals through developing and manufacturing products that leverage innovative technologies that ensure quality products at affordable prices.
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 22,000 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 help 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 300,000 branded products and Henry Schein corporate brand products in our distribution centers.
A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 32 countries and territories. The Company's sales reached $12.6 billion in 2022 and have grown at a compound annual rate of approximately 12.1 percent since Henry Schein became a public company in 1995.
For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein, Instagram.com/HenrySchein, and Twitter.com/HenrySchein.