2023-08-02 08:23:40 ET
- Henry Schein ( NASDAQ: HSIC ) said Wednesday it acquired a majority stake in Large Practice Sales , an advisor to independent dental practices on their sale to or partnership with larger general practice and dental specialists.
- Financial terms were not disclosed. Henry Schein ( HSIC ) expects the deal to be neutral to 2023 adjusted EPS and accretive thereafter.
- LPS, which had 2022 net sales of ~$40M, is complementary to Henry Schein's ( HSIC ) existing Dental Practice Transition business.
- LPS Co-founders Chip Fichtner and Matt Wilkins will join Henry Schein ( HSIC ). They will hold a minority stake in LPS, along with other key members of the firm's management.
- Recent SA analysis - Henry Schein: Not Shining At 15x Earnings, No Intrinsic Growth
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Henry Schein picks up majority stake in Large Practice Sales