MELVILLE, N.Y.--(BUSINESS WIRE)--Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical practitioners, and Casa Schmidt, S.A., a comprehensive provider of dental solutions for dental professionals in Spain and Portugal, announced today the completion of a joint venture to advance their mutual goal of helping health care professionals operate more efficient practices by providing new solutions and technologies for the ultimate benefit of patients. The transaction was announced on March 10, 2020, and approved on June 30, 2020, by Spain’s National Commission of Markets and Competition.
The joint venture will operate in Spain and Portugal under the Henry Schein name. The company will include Henry Schein’s comprehensive portfolio of business, clinical, technology, and supply chain solutions. It will also include all of Casa Schmidt’s lines of business including Schmidt Dental Solutions, a full service distributor of dental products and services to dental offices, laboratories, universities, and hospitals in Spain and Portugal; Servimed, which provides technical support to dental practitioners and dental specialists including surgeons and orthodontists; and Importación Dental Especialidades, a supplier of specialized implantology and orthodontics products and services.
In addition, the joint venture will be complemented by Henry Schein One’s market leading practice management and patient communication software, as well as the comprehensive implant systems, digital workflows, and innovative regenerative solutions offered by CAMLOG and BioHorizons, the foremost brands of Henry Schein’s Global Dental Surgical Group.
Henry Schein will have majority ownership of the joint venture, with senior management from Henry Schein and Casa Schmidt serving on the management team. Henry Schein’s Juan M. Molina will serve as the Managing Director of the joint venture.
“We are very pleased to complete our partnership with Casa Schmidt, a company that shares our commitment to excellent service and providing customers with the solutions they need to provide quality care to their patients," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “With nearly 200 years of combined experience serving dental professionals, we believe we have the solutions and value-added services to strategically position our business for continued success in the Iberian market.”
Casa Schmidt was founded in 1919 by Georg Schmidt and began operating as Schmidt Dental Solutions in 2019. The company has grown into a full-service dental distributor that today offers more than 55,000 consumable merchandise and dental products, including multiple product exclusives, and had more than €35 million in sales in 2019. Headquartered in Madrid, Casa Schmidt has nearly 240 employees and 19 locations.
"Together we can offer 360º service to dental professionals, combining the best of both companies, including a comprehensive offering of solutions, a heritage of growth and innovation, and a commitment to creating an exceptional customer experience for dental professionals,” stated Federico Schmidt Reparaz, Chief Executive Officer of Schmidt Dental Solutions.
Henry Schein has served dental professionals in Spain and Portugal since 1990 with a growing number of both branded and private-label products and services.
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care professionals powered by a network of people and technology. With more than 19,000 Team Schein Members worldwide, the Company's network of trusted advisors provides more than 1 million customers globally with more than 300 valued solutions that help improve operational success and clinical outcomes. Our Business, Clinical, Technology, and Supply Chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional healthcare clinics, as well as other alternate care sites.
Henry Schein operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.
A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 31 countries. The Company's sales from continuing operations reached $10.0 billion in 2019, and have grown at a compound annual rate of approximately 13 percent since Henry Schein became a public company in 1995.
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