Sunday, 05 Apr 2020

Henry Schein Completes Acquisition Of Merritt Veterinary Supplies

MELVILLE, N.Y: 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.

(PRN | 3 years ago)