Henry Schein recently completed the acquisition of a majority ownership stake of Biotech Dental, a growing provider of dental implants, clear aligners and digital dental software based in Salon-de-Provence, France.
The transaction was announced last December, according to a press release.
Biotech Dental offers several 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. The company also manufactures custom abutments and implants under the Kontact brand and offers clear aligners under the Smilers brand.
Biotech Dental also launched LaGalaxy, a comprehensive, open and secure software platform where both clinical and administrative tasks can be performed. Dentists and dental laboratories benefit from end-to-end integrated digital solutions designed to 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. 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. Philippe Veran will work closely with Henry Schein’s management team to advance the company’s software, implant and orthodontics businesses globally. Both Philippe and Dr. Veran will become minority partners in Henry Schein Orthodontics, allowing the companies to offer a comprehensive set of orthodontic solutions to its combined customer base, including software, aligners and traditional orthodontic appliances.
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.
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