Blumenau-based Dental Cremer posted sales of roughly $70 million last year and employs about 530 workers, Schein said.
“As Brazil’s dental market grows, fueled by an aging population and an expanding middle class, Henry Schein and Dental Cremer share a commitment to helping practitioners in Brazil operate successful practices and provide quality care to patients,” chairman & CEO Stanley Bergman said in prepared remarks. “We look forward to welcoming the Dental Cremer team to Team Schein.”
Dental Cremer CEO Paulo Batista and other members of his management team are slated to keep a stake in the business, with Batista running it as managing director.
“Henry Schein has demonstrated its steadfast commitment to serving the needs of dental practitioners and the patients they serve throughout the world for more than 8 decades,” Batista said. “We look forward to drawing on Henry Schein’s impressive global resources to strengthen the foundation that Dental Cremer has built.”
Schein said it expects the deal, which is slated to close during the 1st half of 2016, to be neutral to earnings this year and add 1¢ to 2¢ in 2017.