Henry Schein and Internet Brands Form Henry Schein One

 Henry Schein and Internet Brands Form Henry Schein One

Henry Schein and Internet Brands recently formed Henry Schein One, a joint venture designed to deliver integrated technology to enhance dental practice management.

Henry Schein One will include Henry Schein Practice Solutions products and services, such as Dentrix, Dentrix Ascend, Easy Dental, and TechCentral, as well as Henry Schein's international dental practice management systems, including Software of Excellence, Logiciel Julie, InfoMed, Exan, and LabNet, among others, according to a press release.

Henry Schein One will include the dental businesses of Internet Brands, including web-based solutions such as Demandforce, Sesame Communications, Officite, and DentalPlans.com. The teams dedicated to all these businesses will become part of the joint venture, which will initially employ about 1,500 team members and be headquartered in American Fork, Utah.

Henry Schein will have majority ownership of the joint venture and Internet Brands will own a minority interest, with senior management from Henry Schein and Internet Brands serving on the board of Henry Schein One.

The combined entity, which will serve markets globally, had pro-forma 2017 sales of approximately $400 million. Henry Schein expects the transaction to be neutral to the balance of its 2018 earnings per share, excluding the impact of one-time transfer taxes of approximately $4.5 million, or $0.03 per share, related to completing the transaction, and to be accretive thereafter.

The joint venture expects to realize between $20 million and $30 million in annual synergies by the end of year three. The companies expect to complete the transaction in the second quarter of 2018, subject to certain pre-closing conditions.

Financial terms of the agreement were not disclosed. 

View Full Press Release

Source: Henry Schein

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