Acquisition Expands Henry Schein One’s International Presence and Establishes Leading Software Position in Italy under the OrisLine Brand
Henry Schein, Inc. (Nasdaq: HSIC) today announced that Henry Schein One has acquired Elite Computer Italia S.r.L. (Elite), a full-service software company that delivers state-of-the-art practice management solutions to dental practices and dental laboratories in Italy. The addition of Elite complements Henry Schein One's strategy to deliver integrated technology platforms that help dental teams become more productive and improve each stage of the patient experience, and marks Henry Schein’s entry into the Italian dental practice management software market.
Founded nearly 30 years ago with headquarters in Milan, Elite has approximately 50 employees, serves more than 8,000 dental clinics and dental laboratories, and had 2018 sales of approximately $6 million. Its OrisLine brand includes the OrisDent, OrisLab, OrisEduco, and OrisCeph Rx software products. Henry Schein expects that Elite will be neutral to the Company's 2019 earnings per diluted share and accretive thereafter. Financial terms were not disclosed.
“Having the right practice management system is one of the most essential facets of any successful dental practice. We have served dental practitioners in Italy since 2004 and are now well-positioned to offer the highly regarded OrisLine family of software products,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “We look forward to a strong partnership with Elite that will enable a true digital workflow to help dental teams streamline office procedures and make the most of their practice management investment.”
Co-Founders Gianluigi Boerio, CEO, and Marco Parodi, President, Research and Development, along with Elite’s management team, will join Henry Schein One and bring significant experience in defining and delivering technology solutions. In addition, the OrisLine brand will be maintained and Henry Schein One will continue to offer and support all current Elite products following the acquisition.
“We are pleased to join Henry Schein One,” said Mr. Boerio. “This partnership expands our ability to offer our customers a comprehensive portfolio of practice management systems and web-based services to include a full complement of dental merchandise and equipment.”
“We are delighted to welcome co-founders Gianluigi Boerio and Marco Parodi and the entire Elite team to Henry Schein One,” said James A. Harding, Jr., Chief Executive Officer of Henry Schein One. “Our two companies share a commitment to innovation and transforming dentistry by ensuring practice success, improving patient experience, and increasing access to care. We firmly believe that the products, services, and solutions we deliver through our combined expertise will be instrumental to helping dental practices run smoothly, provide quality care, and attract new patients.”
About Henry Schein One
Henry Schein One, founded in 2018 as a joint venture between Henry Schein and Internet Brands, is a software company providing integrated software and services to the dental industry. Headquartered in American Fork, Utah, the company offers market-leading solutions for dental practices, including Dentrix, Dentrix Ascend, Dentrix Enterprise, Easy Dental, TechCentral, Demandforce, Sesame Communications, Lighthouse360, Officite, and DentalPlans.com as well as international companies, including Software of Excellence, Logiciel Julie, InfoMed, Exan, and LabNet, among others. For more information, visit www.henryscheinone.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 19,000 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 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 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.
A FORTUNE 500 Company and a member of the S&P 500® and the Nasdaq 100® indexes, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 31 countries. The Company's sales from continuing operations reached $9.4 billion in 2018, and have grown at a compound annual rate of approximately 13 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.
