The comprehensive, integrated suite of planning and diagnostic software will add to Henry Xiang’s portfolio of digital dental solutions, as well as its rapidly growing portfolio of implants and clear aligners.
Henry Schein, Inc. (NASDAQ: HSIC), the world’s largest provider of healthcare solutions to ambulatory dentistry and medical practitioners, announced today that it has completed the acquisition of a majority interest in Biotech Dental SAS, Biotech Dental SAS is a fast-growing dental service provider of dental implants, clear aligners and innovative digital dental software in salons in the Provence region of France. The transaction was announced on December 16, 2022.
Biotech Dental has several important solutions including Nemotec, a comprehensive suite of integrated planning and diagnostic software that uses an open architecture to connect disparate medical devices to create a digital view of the patient, providing greater diagnostic accuracy and improved patient experience. Biotech Dental is also one of the fastest growing French manufacturers of custom abutments and implants under the brand Kontact™ and clear aligners under the name Smilers® brand. In addition, Biotech Dental introduced the LaGalaxy®, a comprehensive, open and secure software platform within which clinical and administrative tasks can be performed. Within a single platform, dentists and dental laboratories benefit from end-to-end integrated digital solutions that help improve case outcomes while speeding up treatment times, case completion and lower costs for implant, orthodontic and restorative treatments . Henry Schein and Biotech Dental are mutually investing in the growth of these businesses and the development of the Biotech Dental brand globally.
“We at Henry Schein welcome our new colleagues at Biotech Dental and are excited about the opportunity to bring Biotech Dental’s software offerings to our customers,” said Stanley M. Bergman, Chairman and CEO of Henry Schein. “Together with our existing software portfolio, Henry Schein and Biotech Dental will create a digital workflow that provides our clients with a seamless journey to increase case acceptance and improve clinical outcomes for practitioners. Software by Biotech Dental “Integration with Henry Schein One’s industry leading practice management software solution will help clients streamline their clinical and administrative workflows to the ultimate benefit of patients. We are also very keen to partner with Biotech Dental to drive global adoption of their excellent Implant portfolio as well as our portfolio of clear aligners and clinical workflow software.”
Philippe Veran, Founder and President of Biotech Dental, will continue to lead the business, supported by Dr. Olivia Veran, Senior Vice President and Managing Director of Biotech Dental. Biotech Dental will maintain its private label and go-to-market strategy. Mr. Veran will work closely with Henry Schein’s management team to drive the company’s software, implant and orthodontic businesses globally.
As part of the transaction, Mr. and Dr. Veran will also become minority shareholders in Henry Cheung Orthodontics. This alignment enables Henry Schein and Biotech Dental to offer their combined customer base best-in-class, comprehensive orthodontic solutions, including software, aligners and traditional orthodontic appliances.
“We are delighted to complete our partnership with Henry Schein, who shares our commitment to providing dentists, orthodontists and dental laboratories with the professional tools they need to provide quality care to their patients,” said Mr. Veran. “This investment marks a new chapter for our customers who will benefit from the innovations and new technologies we will bring to the global dental community, as well as the broad range of products and services offered through Henry Schein.”
Under the terms of the deal, Henry Schein acquired a majority stake in Biotech Dental. The Upperside Capital Partners Group will continue to own the remaining minority interest in the company. In fiscal 2022, Biotech Dental’s revenue is approximately $100 million. Henry Schein expects the transaction to be slightly dilutive to 2023 EPS, excluding amortization charges primarily due to non-cash acquisition accounting adjustments for inventory. Financial terms were not disclosed.
About Biotech Dental Group
Biotech Dental is one of the largest providers of end-to-end dental solutions. For more than 35 years, the company has been designing and manufacturing a full line of dental implants, implant treatment planning software, orthodontic aligners, regenerative products and digital dental solutions. Its products are designed to help dentists achieve better outcomes for their patients, enhance their surgical skills, and maximize commercial success. Biotech Dental achieves these goals by developing and manufacturing products utilizing innovative technologies that ensure quality products at affordable prices.
About Henry Schein, Inc.
Henry Schein, Inc. (NASDAQ: HSIC) is a solutions company for healthcare professionals, powered by a network of people and technology. With more than 22,000 Team Schein members worldwide, the company’s network of trusted advisors provides more than 300 valuable solutions to more than 1 million customers worldwide that help 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 deliver quality care more effectively. These solutions also support dental laboratories, government and institutional healthcare clinics, and other alternative care settings.
Henry Schein operates through a centralized and automated distribution network, and our distribution centers carry a curated selection of over 300,000 brand name products and Henry Schein corporate brand products.
Henry Schein, a Fortune 500 company and member of the S&P 500® Index, is headquartered in Melville, New York, with operations or affiliates in 32 countries. The company’s sales will reach $12.6 billion in 2022, a compound annual growth rate of about 12.1% since Henry Schein became a public company in 1995.
For more information, visit Henry Schein www.henryschein.com, Facebook.com/Henry Schein, Instagram.com/Henry Scheinand Twitter.com/Henry Schein.
