ST. PAUL, Minn.--(BUSINESS WIRE)--Patterson Companies (Nasdaq: PDCO) today announced that it has been named to the Fortune 500 list of America’s largest companies by revenue for the first time in its 140-year history. The company is a top provider of everyday essentials, industry-leading technology, equipment and comprehensive support for businesses in the dental and animal health industries, with operations in the U.S., U.K. and Canada.
The company traces its start back to 1877 when John Patterson and his brother Myron Fayette (M.F.) Patterson purchased a Milwaukee drugstore. The young, enterprising brothers soon added dental and surgical supplies to their stock and moved the company’s headquarters to St. Paul in 1891.
Patterson has grown through the acquisition of like-minded distributors as well as technology companies, positioning the company as a software and technology support leader in the industries it serves. The company is traded under the ticker PDCO and will celebrate its 25th anniversary of being publicly traded in November of this year.
Currently in a period of transformation, the company has made significant infrastructure investments, divested its medical rehabilitative supplies business, and made a $1.1 billion acquisition that doubled the size of its presence in the animal health market. The company recently reported net sales for fiscal 2017, which ended April 29, 2017, totaled $5.6 billion, a 3.8 percent increase from fiscal 2016. Net sales for calendar year 2016, which are reflected in the Fortune list, were $5.6 billion.
“A common thread for dental and animal health customers is the demand for the latest products and equipment, technology, and the operational support that keeps technology running. No one has a broader array of products and equipment, technology solutions, or a better infrastructure to support customer needs,” said Interim President & Chief Executive Officer, James Wiltz. “The critical business changes we are making will continue positioning us as a compelling business partner to customers in both markets for the future.”
Fortune Magazine has compiled the Fortune 500 list 63 times, having done so every year since 1955.
About Patterson Companies Inc.
Patterson Companies Inc. (Nasdaq: PDCO) is a value-added distributor serving the dental and animal health markets.
Patterson’s Dental segment provides a virtually complete range of consumable dental products, equipment and software, turnkey digital solutions and value-added services to dentists and dental laboratories throughout North America.
Animal Health Market
Patterson’s Animal Health segment is a leading distributor of products, services and technologies to both the production and companion animal health markets in North America and the U.K.
SOURCE: Patterson Companies Inc.