Press release
Henry Schein Acquires Majority Interest in eAssist Dental Solutions
Adds Outsourced Virtual Dental Billing Platform to a Growing Portfolio of Value-Added Services to Help Enhance Practice Profitability MELVILLE,
About this update from Henry Schein, Inc.
[{"type":"text","content":"\nAdds Outsourced Virtual Dental Billing Platform to a Growing Portfolio of Value-Added Services to Help Enhance Practice Profitability\n\n MELVILLE, N.Y.--(BUSINESS WIRE)--\nHenry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical practitioners, announced today that it has acquired a 70% ownership position in eAssist Dental Solutions (eAssist), the developer of a leading and fast-growing virtual dental billing outsourcing service that will advance the Company's mission to offer best-of-breed solutions to help dental practices operate more efficiently and profitably, freeing up practice resources to focus on patient care.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210610005228/en/To learn more, visit eAssist online at https://dentalbilling.com/.\nHeadquartered in American Fork, UT, eAssist was founded in 2011 by James Anderson, DMD, and Sandy Odle to assist with billing challenges in his dental practices. Dr. Anderson will continue to manage the eAssist business as Chief Executive Officer, along with the current eAssist management team. In 2020, eAssist had sales of approximately $31 million. Henry Schein expects that eAssist will be slightly dilutive to the Company’s 2021 financial results and to be accretive thereafter. Financial terms were not disclosed.\n\n“Henry Schein has a long-standing commitment to supporting dental practice growth, efficiency, and profitability through our comprehensive offering of solutions,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “We are delighted to add eAssist to our leading portfolio of value-added services, which will help our customers improve their critical insurance and billing functions so dental teams can focus on delivering quality patient care. We welcome our new colleagues to Team Schein and look forward to continued success together.”\n\neAssist uses a combination of technology and human expertise to provide outsourced insurance billing services to dental practices, helping practices to free-up resources to focus on patient care and clinical outcomes. By enhancing collections processes, eAssist allows dental practices to simplify operations and reduce stress related to cashflow.\n\n“By addressing the imp...