Henry Schein, Inc. (Nasdaq: HSIC) announced the acquisition of Regional Health Care Group Pty Ltd (RHCG), a medical products distribution company serving public- and private-sector customers in Australia and New Zealand.
Since 1998, Henry Schein has served the Australian and New Zealand dental market, providing a wide range of dental products, equipment, and services to dental professionals. The addition of RHCG expands Henry Schein’s offering to medical practitioners in the region.
Henry Schein acquired RHCG, which had sales for the 12 months ended June 30, 2022, of $42 million, from Maurie and Bernard Stang, who wholly owned the company and retain a minority interest in Henry Schein’s ANZ dental business. Henry Schein expects the transaction to be neutral to 2023 diluted earnings per share when excluding amortization expenses and accretive thereafter. Financial terms were not disclosed.
“We are pleased to welcome the Regional Health Care Group to Henry Schein,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “Together, we will advance our long-standing goal of helping health care professionals operate more efficient practices by providing new solutions and technologies for the ultimate benefit of patients.”
Headquartered in Sydney, Australia, with an office in Auckland, New Zealand, RHCG offers a wide range of consumables, equipment, and pharmaceuticals – including many on an exclusive or semi-exclusive basis – primarily to public- and private-sector customers. The day-to-day operations of RHCG are led by General Manager Stephen Doorey, who will continue to manage the business under the highly regarded Regional Health Care Group brand. Mr. Doorey will report to Mike Covey, Vice President and Managing Director of Henry Schein’s business in Australia and New Zealand.
“We are very pleased to integrate RHCG with Henry Schein, a company that shares our commitment to excellent service and provides customers with the solutions they need to deliver quality care to their patients,” said Maurie Stang. “It’s extremely gratifying to see the exciting opportunities to accelerate our growth.”