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New all-around aggregation – alleged Henry Schein One – combines Dentrix, Dentrix Ascend, Exan, Easy Dental, Demandforce, Sesame Communications and added market-leading dental brands

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MELVILLE, N.Y., April 3, 2018 /PRNewswire/ — Henry Schein, Inc. (HSIC), the world’s bigger provider of bloom affliction articles and casework to office-based dental, beastly health, and medical practitioners, and Internet Brands, a arch provider of web attendance and online business software, appear today the conception of a collective adventure advised to bear chip dental technology to advice the profession advance convenance administration and business as able-bodied as accommodating communication.

Henry Schein Convenance Solutions is the arch dental convenance administration software aggregation and will accompany to the adventure its market-leading apartment of convenance administration systems. Internet Brands is the bazaar baton in web-based software applications acclimated by dental offices to allure and absorb patients and administer online reputation.

The collective venture, to be called Henry Schein One, will accommodate the Henry Schein Convenance Solutions articles and services, such as Dentrix, Dentrix Ascend, Easy Dental, and TechCentral, as able-bodied as Henry Schein’s all-embracing dental convenance administration systems, including Software of Excellence, Logiciel Julie, InfoMed, Exan, and LabNet, amid others. Henry Schein One additionally will accommodate the dental businesses of Internet Brands, including web-based solutions such as Demandforce, Sesame Communications, Officite, and DentalPlans.com. The teams committed to all these businesses will become allotment of the collective venture, which will initially apply about 1,500 aggregation associates and be headquartered in American Fork, Utah.

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Henry Schein will accept majority buying of the collective adventure and Internet Brands will own a boyhood interest, with chief administration from Henry Schein and Internet Brands confined on the lath of Henry Schein One. The accumulated entity, which will serve markets globally, had pro-forma 2017 sales of about $400 million. Henry Schein expects the transaction to be aloof to the antithesis of its 2018 antithesis per share, excluding the appulse of ancient alteration taxes of about $4.5 million, or $0.03 per share, accompanying to commutual the transaction, and to be accretive thereafter. The collective adventure expects to apprehend amid $20 actor and $30 actor in anniversary synergies by the end of year three. The companies apprehend to complete the transaction in the added division of 2018, accountable to assertive pre-closing conditions. Banking acceding of the acceding were not disclosed. 

“We are absolute admiring to actualize this collective adventure with Internet Brands because we allotment the ambition of actuality the best accomplice to advice our dental barter accomplish acknowledged practices for the ultimate account of their patients,” said Stanley M. Bergman, Chairman of the Lath and CEO, Henry Schein, Inc. “With this agreement, we amalgamate two dental technology leaders who calm will actualize a able new agent to advance our customers’ growth. We accept our barter will accept the best all-encompassing apartment of chip programs and services, operating on arch convenance administration systems, to accredit dental professionals to be added able and to access their adeptness to bear high-quality affliction to patients.”

Henry Schein One will bear advanced, cutting-edge technology to abode the challenges created by the accepted abridgement of technology affiliation in dental practices. Dental teams today use disparate technology systems that generally don’t affix with anniversary another, thereby crumbling time for the aggregation and their patients. The mission of Henry Schein One is to accession the akin of addition and bear a new belvedere of added dental software and casework that assignment calm seamlessly to allotment abstracts and accumulate the agenda workflow for anniversary affiliate of the dental team. Having end-to-end administration and business systems will accredit dental teams to be bigger business managers, clinicians to be added efficient, and patients added loyal to the practice. By allowance anniversary affiliate of the dental aggregation assignment smarter and faster to advance the convenance and the absolute accommodating experience, Henry Schein One will position dentists to focus added on carrying affection accommodating care.          

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Integrating Henry Schein’s convenance administration software with Internet Brands’ web-based and adaptable agenda business and communications accoutrement will accord dental teams new accoutrement affiliated to their convenance administration systems to bigger acquaint with accepted and -to-be patients, abbreviate arrangement cancellations, advance adherence to analysis plans, and advance new sources of revenue. 

“By accumulation Henry Schein’s backbone in convenance administration software with our arch agenda business applications in this new collective venture, we intend to advantage the ample assets of both companies to accommodate our barter and their patients with a bigger experience,” said Bob Brisco, CEO of Internet Brands. “We are alone abrading the apparent of what we can do calm to advance how dental practices collaborate with patients in an age of agenda communications. This collective adventure will accouter the adeptness of the arch brands in this bazaar for the account of anybody absorbed in carrying and experiencing bigger bloom care. We’re absolute aflame to assignment with Henry Schein to actualize a able new alms that is incomparable in the industry.”

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The administration of Henry Schein One brings abysmal adeptness and acquaintance to the assignment of application avant-garde business and communications technologies to enhance the chump experience. The company’s Chief Executive Officer will be James A. Harding, currently the Chief Vice President and CEO of Henry Schein’s All-around Convenance Solutions Group. Mr. Harding has additionally served as the Chief Technology Officer of Henry Schein, which he aing in 2000. The of Henry Schein One’s administration aggregation will be appear at a after date.

Cautionary Note Apropos Forward-Looking Statements and Use of Non-GAAP Banking Information

In accordance with the “Safe Harbor” accoutrement of the Private Securities Litigation Reform Act of 1995, we accommodate the afterward cautionary animadversion apropos important factors that, amid others, could account approaching after-effects to alter materially from the advanced statements, expectations and assumptions bidding or adumbrated herein.  These statements are articular by the use of such acceding as “may,” “could,” “expect,” “intend,” “believe,” “plan,” “estimate,” “forecast,” “project,” “anticipate” or added commensurable terms.  Such advanced statements include, but are not bound to, statements about the allowances of the collective adventure transaction, including approaching banking and operating results, the collective venture’s plans, objectives, expectations and intentions.  All statements that abode operating performance, contest or developments that we apprehend or ahead will action in the approaching — including statements apropos to advancing synergies and the accepted calendar for commutual the proposed transaction — are advanced statements.  All advanced statements fabricated by us are accountable to risks and uncertainties and are not guarantees of approaching performance.  These advanced statements absorb accepted and alien risks, uncertainties and added factors that may account our absolute results, achievement and achievements or industry after-effects to be materially altered from any approaching results, achievement or achievements bidding or adumbrated by such advanced statements.  For example, these advanced statements could be afflicted by factors including, after limitation, risks associated with the adeptness to able the transaction and the timing of the closing of the transaction; the adeptness to access requisite approvals; the adeptness to auspiciously accommodate operations and employees; the adeptness to apprehend advancing allowances and synergies of the transaction; the abeyant appulse of the advertisement of the transaction or cleanup of the transaction on relationships, including with employees, barter and competitors; the adeptness to absorb key personnel; the adeptness to accomplish achievement targets; changes in banking markets, absorption ante and adopted bill barter rates; and those added risks and factors discussed in letters filed with the SEC by Henry Schein from time to time, including those discussed beneath the branch “Risk Factors” in its best afresh filed abode on Form 10-K.  We undertake no assignment and accept no obligation to amend any advanced statements independent herein. 

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Also included aural this columnist absolution is advice apropos the aloof appulse of the collective adventure transaction on our adapted antithesis per allotment (“EPS”). This advice is a non-GAAP banking admeasurement because it excludes the appulse of alteration taxes that will be paid in accordance with the collective venture. The adaptation to the appulse of the collective adventure on our accepted GAAP EPS is provided above. Administration believes that this non-GAAP banking admeasurement provides investors with advantageous added advice about the accepted appulse of the collective adventure transaction because it excludes ancient payments that are not apocalyptic of the accepted appulse of the collective adventure on our EPS in approaching periods. This non-GAAP banking measures is presented alone for advisory purposes and should not be admired as a backup for agnate GAAP measures.

About Henry Schein, Inc. 

Henry Schein, Inc. (HSIC) is a bloom solutions arrangement powered by bodies and technology. With added than 22,000 Team Schein Members serving added than 1 actor barter globally, the Aggregation is the world’s bigger provider of Business, Clinical, Technology, and Supply Chain solutions to enhance the ability of office-based dental, animal health, and medical practitioners. The Aggregation additionally serves dental laboratories, government and institutional bloom affliction clinics, and added alternating affliction sites. 

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A Fortune 500® Aggregation and a affiliate of the S&P 500® and the Nasdaq 100® indexes, Henry Schein’s arrangement of trusted admiral provides bloom affliction professionals with the admired solutions they charge to advance operational success and analytic outcomes. The Aggregation offers barter exclusive, avant-garde articles and solutions, including convenance administration software, e-commerce solutions, specialty and surgical products, as able-bodied as a ample ambit of financial services. Henry Schein operates through a centralized and automatic administration network, with a alternative of added than 120,000 branded articles and Henry Schein private-brand articles in stock, as able-bodied as added than 180,000 added articles accessible as special-order items.

Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 34 countries. The company’s sales accomplished a record $12.5 billion in 2017, and accept developed at a admixture anniversary amount of about 15 percent back Henry Schein became a accessible aggregation in 1995. For added information, appointment Henry Schein at www.henryschein.com, Facebook.com/HenrySchein,and @HenrySchein on Twitter.

About Internet Brands

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Headquartered in El Segundo, Calif., Internet Brands® is a absolutely chip online media and software casework alignment focused on four high-value vertical categories: Health, Automotive, Legal and Home/Travel. The company’s award-winning customer websites advance their categories and serve added than 250 actor account visitors, while a abounding ambit of web attendance offerings has accustomed deep, abiding relationships with SMB and action clients. Internet Brands’ powerful, proprietary operating belvedere provides the adaptability and scalability to ammunition the company’s connected growth. Internet Brands is a portfolio aggregation of KKR and Temasek. For added information, amuse appointment www.internetbrands.com.

 

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