MELVILLE, N.Y., Feb. 13, 2019 -- Henry Schein One announced today that it has acquired Kopfwerk, the leading dental practice management solutions company in Vienna, Austria. Kopfwerk is a full-service software company that delivers state-of-the-art practice management solutions, along with technical support, training, and installation, to boost office productivity, automate clinical and office processes, and enhance patient care.
Founded in 1987 by Peter Schiller and Thomas Gessl, Kopfwerk had 2018 revenues of approximately $2.2 million. Henry Schein expects this transaction to be neutral to its 2019 earnings per share and to be accretive thereafter. Additional financial details and terms were not disclosed.
Henry Schein One is a joint venture between Henry Schein, Inc. and Internet Brands that delivers integrated technology to enhance dental practice management. The company includes Henry Schein's market-leading solutions of Dentrix, Dentrix Ascend, Dentrix Enterprise, Easy Dental, and TechCentral, as well as international companies, including Software of Excellence, Logiciel Julie, InfoMed, Exan, and LabNet, among others. Also included in Henry Schein One are the dental businesses of Internet Brands, including web-based solutions such as Demandforce, Sesame Communications, Officite, DentalPlans.com and more.
We are delighted about our new partnership with Kopfwerk. It's the newest addition to Henry Schein One's software portfolio and we believe it will further enhance our ability to power successful practices by providing our customers in Austria 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. "Kopfwerk will bolster our suite of comprehensive solutions that health care professionals rely on to operate a more efficient practice and provide patients with quality care."
"Kopfwerk will become an integrated part of Henry Schein One's portfolio of technology solutions, which include the Dentrix family of practice management systems, Easy Dental, Demandforce, Sesame Communications, Officite, and other global companies dedicated to delivering end-to-end management and marketing systems to improve management, profitability, and the entire patient experience," said James A. Harding Jr., Chief Executive Officer, Henry Schein One. "Kopfwerk's highly regarded solution will complement these offerings as well as our mission to enable a true digital workflow that helps dental teams become more productive and improve each stage of the patient experience."
Kopfwerk's Peter Schiller will continue to serve as General Manager of the Company.
"Henry Schein's excellent reputation and extensive reach among dentists bodes well for our continued success and we are excited to become a part of this team," Mr. Schiller said. "We share with Henry Schein One a commitment to help accelerate the adoption of digital technology and solutions to help dental practices grow and prosper for the ultimate benefit of the patient."
Henry Schein One, founded in 2018, is the world's largest dental practice management software company. Headquartered in American Fork, Utah, the company integrated 13 companies, 40 plus software brands, and employs approximately 1,500 people. For more information, visit www.henryscheinone.com
Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care professionals powered by a network of people and technology.
With more than 18,000 Team Schein Members worldwide, the Company's network of trusted advisors provides over 1 million customers globally with more than 300 valued solutions that improve operational success and clinical outcomes. Our Business, Clinical, Technology, and Supply Chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional health care clinics, as well as other alternate care sites.
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.
A Fortune 500® Company and a member of the S&P 500® and the Nasdaq 100® indexes, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 31 countries. The Company's sales, including the animal health business, reached a record $12.5 billion in 2017, and have grown at a compound annual rate of approximately 15% since Henry Schein became a public company in 1995.
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Risk factors and uncertainties that could cause actual results to differ materially from current and historical results include, but are not limited to: effects of a highly competitive and consolidating market; our dependence on third parties for the manufacture and supply of our products; our dependence upon sales personnel, customers, suppliers and manufacturers; our dependence on our senior management; fluctuations in quarterly earnings; risks from expansion of customer purchasing power and multi-tiered costing structures; increases in shipping costs for our products or other service issues with our third-party shippers; general global macro-economic conditions; risks associated with currency fluctuations; risks associated with political and economic uncertainty; disruptions in financial markets; volatility of the market price of our common stock; changes in the health care industry; implementation of health care laws; failure to comply with regulatory requirements and data privacy laws; risks associated with our global operations; transitional challenges associated with acquisitions and joint ventures, including the failure to achieve anticipated synergies; financial risks associated with acquisitions and joint ventures; litigation risks; the dependence on our continued product development, technical support and successful marketing in the technology segment; increased competition by third party online commerce sites; risks from disruption to our information systems; cyberattacks or other privacy or data security breaches; certain provisions in our governing documents that may discourage third-party acquisitions of us; and changes in tax legislation. The order in which these factors appear should not be construed to indicate their relative importance or priority.
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