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 Merritt Veterinary Supplies, an independent, family-owned supplier of animal health products.
"Merritt's outstanding reputation and strong customer focus complements the business, technology, clinical, and supply chain solutions we offer to animal health practitioners," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "With the addition of Merritt, we advance our strategy to provide veterinarians throughout the eastern U.S. with the products and services needed to operate more efficient practices and deliver high-quality care."
Merritt had 2016 sales of approximately $115 million. Henry Schein expects the acquisition to be neutral to its 2017 earnings per share and to be accretive thereafter. With the transaction closed, Merritt joins Henry Schein Animal Health, the U.S. animal health business of Henry Schein, Inc. Financial terms of the transaction were not disclosed.
"We are delighted to become part of the Henry Schein family. A recognized leader in the animal health market, Henry Schein Animal Health consistently serves the evolving needs of animal health professionals and delivers the solutions they rely on to improve the performance of their practice so they can improve the health and welfare of animals," said Bobby Mims, former President of Merritt Veterinary Supplies, who will continue as an advisor to help ensure an efficient and seamless transition for customers.
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 32 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.