MELVILLE, N.Y., US: Henry Schein’s acquisition of Condor Dental, first announced in June, was completed last week. The company, which serves general dental practitioners, specialists and laboratories in Switzerland, has now joined Henry Schein’s international distribution group and will thus enable Henry Schein to bring new products, services and solutions to the Swiss dental community.
The transaction is expected to have a neutral impact on Henry Schein’s diluted earnings per share in 2022 and be accretive thereafter. Yves Mailliard will continue to lead the company as chief operating officer.
“Our partnership comes at a time of growing demand for dental services in Switzerland and with the completion of our strategic investment in Condor Dental, we see a significant opportunity to help dental practitioners provide high-quality care as part of operating efficient and successful practices,” said Stanley M. Bergman, chairman of the board and CEO of Henry Schein.
Maillard said that he was very pleased with the new partnership because the companies share the same values. He continued, “As part of the Henry Schein family, Condor Dental has several exciting opportunities to accelerate organic growth including geographic expansion, leveraging Henry Schein’s private-label products, and accelerating participation in the digitalisation of dental practices. Along with expanding our customer base, we also look forward to increasing Condor Dental’s existing customer base while facilitating excellent patient care and improving practice profitability.”
Condor Dental was established in 1978 and is based in the Swiss town of Vouvry. Henry Schein fully acquired Condor Dental from healthcare holding company MCCB II Holding.