Press release
Henry Schein Forms Joint Venture With Casa Schmidt to Serve Dental Professionals in Spain and Portugal
MELVILLE, N.Y.--(BUSINESS WIRE)-- Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical
About this update from Henry Schein, Inc.
[{"type":"text","content":" 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, and Casa Schmidt S.A., a comprehensive provider of dental solutions for dental professionals in Spain and Portugal, announced today the creation of a joint venture to advance their mutual goal of helping health care professionals operate more efficient practices by providing new solutions and technologies for the ultimate benefit of patients.\n\n\nThe joint venture will operate in Spain and Portugal under the Henry Schein name. The new company will include Henry Schein’s comprehensive portfolio of business, clinical, technology, and supply chain solutions. It will also include all of Casa Schmidt’s lines of business including Schmidt Dental Solutions, a full-service distributor of dental products and services to dental offices, laboratories, universities, and hospitals in Spain and Portugal; Servimed, which provides technical support to dental practitioners and serves dental specialties, including oral surgeons and orthodontists; and Importación Dental Especialidades, a company that specializes in implantology and orthodontics.\n\n\nHenry Schein will have majority ownership of the joint venture, with senior management from Henry Schein and Casa Schmidt serving on the management team. Henry Schein’s Juan M. Molina will serve as the Managing Director of the joint venture.\n\n\nThe transaction is subject to approval by Spain’s National Commission of Markets and Competition and is expected to close in the second quarter of 2020. Financial terms were not disclosed.\n\n\n“We are delighted to enter into this joint venture with such a well-established partner,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “Casa Schmidt has a rich history spanning more than 100 years of serving dental professionals in Spain and Portugal. We expect that Henry Schein España will offer an expanded array of products and services to current customers of both companies and deepen our penetration in these markets.”\n\n\nCasa Schmidt was founded in 1919 by Georg Schmidt and began operating as Schmidt Dental Solutions in 2019. The company has grown into a full-service dental distributor that today offers more than 55,000 consumable merchandise a...