Henry Schein Sells UK Software Development Unit; Enhances Focus on Core Growth Strategies
MELVILLE, N.Y.--(BUSINESS WIRE)--November 27, 2000--Henry Schein,
Inc. (Nasdaq: HSIC), the largest provider of healthcare supplies to
office-based practitioners in the combined North American and European
markets, announced today that its subsidiary, Henry Schein UK
Holdings, Ltd., has sold its software development business,
distributors of the DSD and Clockwork practice management software
systems, to Software of Excellence United Kingdom, Ltd. While
financial terms of the sale were not disclosed, Henry Schein expects
to take a one-time charge during the fourth quarter of 2000 of
approximately $0.03 per diluted share as a result of this transaction.
Under the new agreement, Henry Schein will distribute the new
owner's full line of practice management systems. Software of
Excellence will be responsible for development and technical support
of the dental software systems.
"In an ongoing effort to enhance focus on our core growth
businesses, we made the decision to exit the development and technical
support aspects of these software products. The existing size of the
user base did not substantiate the investment required to keep these
products continuously updated," said Stanley M. Bergman, Chairman,
Chief Executive Officer, and President of Henry Schein, Inc. "We are
confident that our DSD and Clockwork customers will be well-served by
Software of Excellence."
Henry Schein UK Holding is part of Henry Schein's International
Group, which represents approximately 20% of the Company's total
sales. The International Group is a leading distributor of dental
products in Europe, and continues to expand in the medical and
The Group currently has operations in 14 countries outside the
U.S., including: the Netherlands, Spain, Belgium, the United Kingdom,
Germany, France, Iceland, Israel, the Republic of Ireland, Mexico,
Austria, Australia, New Zealand, and Portugal.
Recognized for its excellent customer service and low prices,
Henry Schein serves more than 400,000 customers worldwide, including
dental practices and laboratories, physician practices and veterinary
clinics, as well as government and other institutions. Henry Schein
offers a wide range of innovative value-added practice solutions, such
as its leading dental practice management software systems DENTRIX(R)
and Easy Dental(R), which is installed in over 35,000 practices; and
ArubA(R), Henry Schein's electronic catalog and ordering system.
Headquartered in Melville, New York, Henry Schein employs more
than 6,000 people in 15 countries. The Company's 1999 sales reached a
record $2.3 billion.
||Henry Schein, Inc.
||Steven Paladino, 631/843-5500
||Executive Vice President and
||Chief Financial Officer
||Susan Vassallo, 631/843-5562
||Manager, Investor and