Acquisition Strengthens Henry Schein One's
Goal to be the Leading Provider of Dental Analytics
Solutions and Services to the Dental Market
Henry Schein One, a subsidiary of Henry Schein, Inc. (Nasdaq:
HSIC), announced today that it has acquired an 80% ownership
position in Jarvis Analytics, a software company that develops
comprehensive business analytics tools to help dental practitioners
and their teams use data to diagnose problems, strengthen
decision-making, and improve business performance.
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the full release here:
https://www.businesswire.com/news/home/20210525005482/en/
Dallas-based Jarvis Analytics was founded by Steven Maroulis in
2017. Maroulis will continue to manage Jarvis Analytics and lead
the Henry Schein One Dental Analytics business as Executive
Director. The expected 2021 financial results from Jarvis Analytics
are immaterial to Henry Schein One. The acquisition will be neutral
to Henry Schein’s 2021 earnings per share and accretive thereafter.
Additional financial terms were not disclosed.
“This partnership further demonstrates our commitment to offer
the latest advances in technology through Henry Schein One, making
it possible for dental practices to improve nearly every aspect of
their business management,” said Stanley M. Bergman, Chairman of
the Board and Chief Executive Officer of Henry Schein. “We look
forward to a strong partnership with Jarvis that will enable dental
teams to use data more effectively to build a better business.”
Dental practices have tremendous amounts of data stored in
practice management systems, such as Henry Schein’s market-leading
Dentrix®, Dentrix Ascend®, and Dentrix® Enterprise, as well as
systems for patient relationship management, finance, marketing,
and more. Unfortunately, many dental practices do not yet
consolidate and analyze this disparate data. Jarvis simplifies the
collection of data from multiple sources and organizes it so the
information can be presented in real-time reports, dashboards, and
other methods. Jarvis’ analytics tools can also help identify the
impact positive changes may have on projected revenue, including
hygiene recall, patient retention, case acceptance, and
collection.
“Data mining is the new vehicle for accelerating dental business
growth. Dental practices that know how to use dental analytics to
analyze their data can see what has happened, what is happening,
and make informed decisions about the changes they should make to
improve performance,” said Mike Baird, Chief Executive Officer of
Henry Schein One. “The addition of Jarvis Analytics means dental
teams will benefit by having a trusted partner with the size and
expertise of Henry Schein One to enhance and support their dental
analytics solutions. With these insights, practices owners and
dental management teams can make better decisions to improve
efficiency, increase revenue, and maintain clinical
excellence.”
Jarvis Analytics will continue to be practice management system
agnostic, working with more than 10 practice management systems,
including Dentrix, Dentrix Ascend, and Dentrix Enterprise. The
analytics tools offered by Jarvis Analytics will eventually become
integrated into select Henry Schein One practice management
systems, making it possible to deliver one digital workflow that
simplifies management while improving business performance.
“From day one, our vision has been to help dental practitioners
turn practice management data into powerful insights,” said Mr.
Maroulis. “Our customers recognize the value of data analytics and
have chosen to embed it into every layer of their business to drive
operational efficiencies and growth. We’re excited for the future
and look forward to the critical role Jarvis will undertake to help
Henry Schein One become the leader in dental analytics solutions
for dental businesses of any size.”
About Henry Schein One Henry Schein One, a subsidiary of
Henry Schein, Inc. established in partnership with Internet Brands
in 2018, is a software company providing integrated software and
services to the dental industry. Headquartered in American Fork,
Utah, the company offers market-leading solutions for dental
practices, including Dentrix®, Dentrix Ascend®, Dentrix®
Enterprise, Easy Dental®, TechCentral™, Demandforce®, Sesame
Communications, Lighthouse360®, Officite, and DentalPlans.com® as
well as solutions offered through international companies,
including Software of Excellence, Logiciel Julie, InfoMed, axiUm,
and LabNet, among others. For more information, visit
www.henryscheinone.com.
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 20,000 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 health care 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 and territories. The Company's sales
reached $10.1 billion in 2020, and have grown at a compound annual
rate of approximately 12 percent since Henry Schein became a public
company in 1995.
For more information, visit Henry Schein at www.henryschein.com,
Facebook.com/HenrySchein, and @HenrySchein on Twitter.
Cautionary Note Regarding Forward-Looking Statements
In accordance with the “Safe Harbor” provisions of the Private
Securities Litigation Reform Act of 1995, we provide the following
cautionary remarks regarding important factors that, among others,
could cause future results to differ materially from the
forward-looking statements, expectations and assumptions expressed
or implied herein. All forward-looking statements made by us are
subject to risks and uncertainties and are not guarantees of future
performance. These forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause our
actual results, performance and achievements or industry results to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. These statements are generally identified by the use of
such terms as “may,” “could,” “expect,” “intend,” “believe,”
“plan,” “estimate,” “forecast,” “project,” “anticipate,” “to be,”
“to make” or other comparable terms. Factors that could cause or
contribute to such differences include, but are not limited to,
those discussed in the documents we file with the Securities and
Exchange Commission (SEC), including our Annual Report on Form
10-K. Forward looking statements include the overall impact of the
Novel Coronavirus Disease 2019 (COVID-19) on the Company, its
results of operations, liquidity, and financial condition
(including any estimates of the impact on these items), the rate
and consistency with which dental and other practices resume or
maintain normal operations in the United States and
internationally, expectations regarding personal protective
equipment (“PPE”) and COVID-19 related product sales and inventory
levels and whether additional resurgences of the virus will
adversely impact the resumption of normal operations, the impact of
restructuring programs as well as of any future acquisitions, and
more generally current expectations regarding performance in
current and future periods. Forward looking statements also include
the (i) ability of the Company to make additional testing
available, the nature of those tests and the number of tests
intended to be made available and the timing for availability, the
nature of the target market, as well as the efficacy or relative
efficacy of the test results given that the test efficacy has not
been, or will not have been, independently verified under normal
FDA procedures and (ii) potential for the Company to distribute the
COVID-19 vaccines and ancillary supplies.
Risk factors and uncertainties that could cause actual results
to differ materially from current and historical results include,
but are not limited to: risks associated with COVID-19, as well as
other disease outbreaks, epidemics, pandemics, or similar wide
spread public health concerns and other natural disasters or acts
of terrorism; our dependence on third parties for the manufacture
and supply of our products; our ability to develop or acquire and
maintain and protect new products (particularly technology
products) and technologies that achieve market acceptance with
acceptable margins; transitional challenges associated with
acquisitions, dispositions and joint ventures, including the
failure to achieve anticipated synergies/benefits; financial and
tax risks associated with acquisitions, dispositions and joint
ventures; certain provisions in our governing documents that may
discourage third-party acquisitions of us; effects of a highly
competitive (including, without limitation, competition from
third-party online commerce sites) and consolidating market; the
potential repeal or judicial prohibition on implementation of the
Affordable Care Act; changes in the health care industry; risks
from expansion of customer purchasing power and multi-tiered
costing structures; increases in shipping costs for our products or
other service issues with our third-party shippers; general global
macro-economic and political conditions, including international
trade agreements and potential trade barriers; failure to comply
with existing and future regulatory requirements; risks associated
with the EU Medical Device Regulation; failure to comply with laws
and regulations relating to health care fraud or other laws and
regulations; failure to comply with laws and regulations relating
to the confidentiality of sensitive personal information or
standards in electronic health records or transmissions; changes in
tax legislation; litigation risks; new or unanticipated litigation
developments and the status of litigation matters; cyberattacks or
other privacy or data security breaches; risks associated with our
global operations; our dependence on our senior management, as well
as employee hiring and retention; and disruptions in financial
markets. The order in which these factors appear should not be
construed to indicate their relative importance or priority.
We caution that these factors may not be exhaustive and that
many of these factors are beyond our ability to control or predict.
Accordingly, any forward-looking statements contained herein should
not be relied upon as a prediction of actual results. We undertake
no duty and have no obligation to update forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210525005482/en/
Investors: Steven Paladino Executive Vice President and CFO
steven.paladino@henryschein.com (631) 843-5500 or Carolynne Borders
Vice President, Investor Relations
carolynne.borders@henryschein.com (631) 390-8105
Media: Ann Marie Gothard Vice President, Corporate Media
Relations annmarie.gothard@henryschein.com (631) 390-8169
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