Henry Schein, Inc. and Ortho Computer Systems, Inc. announced that they have signed a definitive agreement to advance practice management software solutions to orthodontists.
MELVILLE, N.Y. and AMES, Iowa, April 30, 2018 /PRNewswire/ -- Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care products and services to office-based dental, animal health, and medical practitioners, and Ortho Computer Systems, Inc. (Ortho2), the leading provider of practice management software solutions to orthodontists in the U.S. and Canada, announced today that they have signed a definitive agreement to advance practice management software solutions to orthodontists.
As a result of the transaction, Henry Schein will own a 50% interest in Ortho2. The transaction, subject to closing conditions, is expected to be neutral to Henry Schein’s 2018 diluted earnings per share. Financial terms were not disclosed.
“We welcome our new Ortho2 colleagues to Henry Schein, and look forward to continued success together,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “With this investment in Ortho2, we round out our dental software portfolio and gain a leadership position in orthodontist practice management software. This transaction supports our commitment to dental specialty markets, to advanced technology, and to category leadership. We look forward to offering advanced software solutions to orthodontists, just as we currently do to general practice dentists.”
Founded in 1982 in Ames, Iowa by Dan Sargent and Dr. William Iversen, today Ortho2 has a staff of over 70 and offers the optimized Edge Cloud practice management solution as well as ViewPoint, a Windows-based software solution. Ortho2 serves nearly 1,700 orthodontists in approximately 2,400 locations, and had record 2017 revenues of $14 million.
“We are delighted to be joining forces with Henry Schein,” said Amy Schmidt, President, Ortho2. “We’re proud of what we’ve accomplished in our 35 years as a completely independent company. The ongoing technology explosion and evolving orthodontic market now makes joining forces with Henry Schein a win/win for us and, most significantly, for our customers. The ability to leverage Henry Schein’s comprehensive ecosystem will allow us to offer a turnkey solution including software, digital imaging, equipment, supplies, and many other benefits to our current and future customers.”
Senior Advisor and past President Dan Sargent added, “This relationship is the end-result of a long and thoughtful process. In Henry Schein, we found the right combination of strength, integrity, and common culture that made us feel good. It was important to me that we retain the people and practices that have helped us succeed all these years.”
Ortho2 Edge Cloud delivers premium practice management, imaging, and communication solutions. It offers all the features needed to run more effectively and efficiently: management, imaging, reminders, education animations, apps, and more. In addition to Edge Cloud, Ortho2 offers a Windows-based product, ViewPoint, which has been making practices more productive since 1998.
“Practice management software is the backbone of an efficient, profitable practice,” Mr. Bergman added. “Henry Schein embraces an open architecture approach to all software and advanced technology, which allows for the purchase of products and services that best meet the needs of each individual practice.”
For more information on Ortho2, visit www.ortho2.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 22,000 Team Schein Members serving more than 1 million customers globally, the Company is the world’s largest provider of Business, Clinical, and Technology solutions to enhance the efficiency of office-based dental, animal health, and medical practitioners. The Company also serves dental laboratories, government and institutional health care clinics, and other alternate care sites.
A Fortune 500® Company and a member of the S&P 500® and the Nasdaq 100® indexes, Henry Schein’s network of trusted advisors provides health care professionals with the valued solutions they need to improve operational success and clinical outcomes. The Company offers customers exclusive, innovative products and solutions, including practice management software, e-commerce solutions, specialty and surgical products, as well as a broad range of financial services. 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.
Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 34 countries. The Company’s sales reached a record $12.5 billion in 2017, and have grown at a compound annual rate of approximately 15 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.
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