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, today announced the completion of a 50 percent equity investment in One Piece Corp., a subsidiary of J. Morita Corp., one of the world’s largest manufacturers and distributors of dental equipment and supplies. This transaction was announced on March 23, 2016.
The partnership builds on Henry Schein’s presence in Japan, which commenced nearly two years ago with an investment in Iwase Dental Supply, Inc., a leading full-service provider of dental consumables, implants and equipment. The investment in One Piece strengthens Henry Schein’s position in the Asian dental products markets, which the Company entered seven years ago with strategic partnerships in Hong Kong and later Thailand and China.
“With the completion of our strategic investment in One Piece, we have advanced our dental business strategy and established a stronger presence in the world’s second-largest dental market,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “We are pleased to welcome our new One Piece colleagues and grateful for Morita’s support, especially the visionary leadership of Haruo Morita. We are committed to the Japan dental market and with Kenichiro Iwase, assuming the leadership of Henry Schein Japan, we look forward to a strong partnership that will bring new services and solutions to the Japanese dental community.”
“We are delighted to move forward with our partnership with Henry Schein,” said Haruo Morita, President and CEO of J. Morita. “We share a devotion to innovation, the ability to adapt to changing market conditions, and a strong commitment to industry leadership that will enhance our efforts to help practicing dentists in Japan deliver quality oral health care.”
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 nearly 19,000 Team Schein Members and serves more than one 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 110,000 branded products and Henry Schein private-brand products in stock, as well as more than 150,000 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 $10.6 billion in 2015, 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.
