Healthcare giant Henry Schein (NSDQ:HSIC) agreed to pay an undisclosed amount to acquire 5 dental businesses from Belgium-based Arseus, the companies announced this week.
Schein is poised to acquire 100% of the assets of dental practice software management unit Logiciel Julie, dental lab specialty products provider Arseus Lab and dental equipment distributors Arcade Dentaire, Arseus Dental Solutions BV and Arseus Dental Solutions NV.
Together the companies represent about $97 million in annual sales, according to a Schein SEC filing.
"The Arseus businesses operate in attractive markets with good growth prospects, and have achieved strong market positions and excellent brand value," Schein CEO & board chairman Stanley Bergman said in prepared remarks. "Each of the 4 distribution companies has exclusive relationships with top-tier manufacturers, Arseus Lab offers best-in-class private-label products and Julie is the leading dental software product in France."
The deal, which is expected to close in the next 90 days, includes some 230 employees, Bergman added. The transaction is estimated to skim about 3¢ per share from the company’s bottom line in 2014. Schein now expects growth of 8-10% in 2014, amounting to $5.29-$5.39 in diluted earnings per share attributable to Henry Schein.