Henry Schein Completes Acquisition of Southern Anesthesia + Surgical
MELVILLE, N.Y., May 2, 2017 /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, announced today the completion of its acquisition of Southern Anesthesia + Surgical (SAS), a leading U.S. distributor of anesthesia and surgical supplies to oral surgeons, dental anesthesiologists, and periodontists.
SAS offers controlled and non-controlled pharmaceuticals, as well as surgical supplies, to approximately 11,500 customers and had 2016 sales of $72 million. The transaction was announced on February 20, 2017. Financial terms of the transaction were not disclosed.
With headquarters in West Columbia, South Carolina, and warehouse and customer service facilities in Reno, Nevada, and Tulsa, Oklahoma, SAS and its 88 team members will become part of ACE Surgical Supply Co., Inc. (ACE), a subsidiary of Henry Schein, Inc.
"We at Henry Schein are pleased to extend a warm welcome to our new colleagues from SAS as we unite two leading dental-surgical supply companies," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "SAS's loyal and long-standing customer relationships and ACE's standing as a global leader in the dental market greatly enhance our ability to serve the needs of oral surgery practitioners across the U.S. Together, we are able to provide our customers with a wide range of products and value-added services, including bone regeneration materials, that will help them grow their business and provide high-quality care to their patients."
The SAS business will continue to be led by its current management team, including Bill Alexander, Vice President and General Manager.
"We are delighted with the closing of the transaction and the opportunity to join forces with Henry Schein, the nation's full-service dental leader," Mr. Alexander said. "Henry Schein's well-earned global reputation for excellence in customer service with a commitment to quality patient care, practice success, and innovation, makes the company and its ACE subsidiary an ideal partner as we explore opportunities to serve and grow the SAS customer base."
Since 1967, ACE has been dedicated to dental-surgical advancements and has become a leading global provider of bone regenerative products and compatible dental implant systems. Headquartered in Brockton, Massachusetts, ACE employs 93 team members and provides supplies to more than 120,000 dental professionals in over 20 countries each year.
"We very much look forward to our partnership with SAS," said Craig Carchidi, President of ACE. "By combining two well-known and respected brands, we will offer a broader product portfolio focused on the unique needs of the dental surgeon."
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is the world's largest provider of health care products and services to 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 employs more than 21,000 Team Schein Members and serves more than 1 million customers.
The company offers a comprehensive selection of products and services, including value-added solutions for operating efficient practices and delivering high-quality care. 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. The company also offers its customers exclusive, innovative technology solutions, including practice management software and e-commerce solutions, as well as a broad range of financial services.
Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 33 countries. The company's sales reached a record $11.6 billion in 2016, 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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SOURCE Henry Schein, Inc.
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