Henry Schein and Internet Brands formed a joint venture designed to deliver integrated dental technology to improve practice management, marketing and patient communication.
Here are five takeaways.
1. T Henry Schein One, the result of the joint venture, will include Henry Schein's Practice Solutions products and services as well as Henry Schein's international dental practice management systems.
2. Henry Schein One will also include Internet Brands' dental business. The joint venture will initially employ nearly 1,500 team members and be headquartered in American Fork, Utah.
3. Henry Schein will hold majority ownership in the joint venture. Both senior management from Henry Schein and Internet Brands will serve on the board of Henry Schein One.
4. In 2017, the combined entity had pro-forma sales of $400 million. Henry Schein expects the partnership will not affect its 2018 earnings per share.
The joint venture expects to earn between $20 million and $30 million in annual synergies by the end of the third ear. Both companies expect to finalize the deal in the second quarter of 2018.
5. James Harding, current senior vice president and CEO of Henry Schein's Global Practice Solutions Group, will serve as CEO of Henry Schein One. The complete executive team will be determined later in the year.
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Here are five takeaways.
1. T Henry Schein One, the result of the joint venture, will include Henry Schein's Practice Solutions products and services as well as Henry Schein's international dental practice management systems.
2. Henry Schein One will also include Internet Brands' dental business. The joint venture will initially employ nearly 1,500 team members and be headquartered in American Fork, Utah.
3. Henry Schein will hold majority ownership in the joint venture. Both senior management from Henry Schein and Internet Brands will serve on the board of Henry Schein One.
4. In 2017, the combined entity had pro-forma sales of $400 million. Henry Schein expects the partnership will not affect its 2018 earnings per share.
The joint venture expects to earn between $20 million and $30 million in annual synergies by the end of the third ear. Both companies expect to finalize the deal in the second quarter of 2018.
5. James Harding, current senior vice president and CEO of Henry Schein's Global Practice Solutions Group, will serve as CEO of Henry Schein One. The complete executive team will be determined later in the year.
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Dentsply Sirona to acquire 3-D orthodontic technology solutions company: 5 takeaways
Ohio dentist faces 16 months in prison for tax evasion: 3 insights
Drs. Tera Greene, Chad Evans & more: 5 dentists making headlines