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 that it has acquired eVetPractice, a leading provider of cloud-based practice management solutions to veterinary clinics. eVetPractice will join Henry Schein Veterinary Solutions (HSVS), the global leader in veterinary technology solutions, and become the newest addition to its expanding software portfolio.
"As the veterinary practice management software market expands into cloud-based solutions, we at Henry Schein understand that partnering with eVetPractice enhances our ability to power successful practices by providing our customers with the latest in value-added services and technology solutions," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "Our distribution footprint and comprehensive technology offerings, which now includes the cloud, ensure that veterinary professionals can continue to rely on us as a trusted advisor, as we endeavor to help them operate more efficient and successful practices while delivering quality care."
Based in Athens, Georgia, and founded in 2011, eVetPractice is one of the fastest-growing cloud solutions in the U.S., serving approximately 900 customers. Henry Schein expects this transaction to be neutral to its 2018 earnings per share and to be accretive thereafter. Additional financial details and terms were not disclosed.
"eVetPractice will become an integrated part of Henry Schein's portfolio of technology solutions, which includes AVImark and ImproMed in North America, as well as Vision, RxWorks, and RoboVet internationally," said Chris Dollar, Global President of Henry Schein Veterinary Solutions. "The highly regarded eVetPractice solution will complement these offerings for our current and prospective customers who prefer the benefits of a cloud solution."
eVetPractice was founded by Eddie Heinz, who will join the HSVS executive team and continue to lead the eVetPractice solution and customer support teams. "Henry Schein's excellent reputation and extensive reach among veterinarians bodes well for our continued success and we are excited to become a part of this team," said Mr. Heinz. "In 2018, the eVetPractice software will be offered to current Henry Schein Veterinary Solutions customers as an option to move to the cloud. We will integrate the HSVS solutions into the eVetPractice software to bring those market-leading solutions to current and future eVetPractice customers."
Henry Schein Veterinary Solutions, which has North American offices in Oshkosh, Wisconsin, Piedmont, Missouri, and Trevose, Pennsylvania, is the leading global veterinarian practice management software developer. Henry Schein Animal Health is based in Dublin, Ohio, and is the leading companion animal health distribution company in the United States, employing approximately 1,000 team members, including more than 250 field sales representatives and 150 telesales and customer support representatives. With 13 strategically located, state-of-the-art distribution facilities and seven inside sales centers, the company maintains a greater than 99 percent order-fill ratio, in line with its mission to provide the best customer experience possible.
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 healthcare 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 22,000 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 34 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.