Henry Schein To Acquire Majority Ownership Interest In Dental Cremer

(RTTNews) - Henry Schein, Inc. (HSIC), the world's largest provider of health care products and services to office-based dental, animal health and medical practitioners, announced that it agreed to acquire a majority ownership interest in Dental Cremer S.A., a distributor of dental supplies and equipment in Brazil. Headquartered in Blumenau, Brazil, Dental Cremer is the dental distribution business of Cremer S.A. With 2015 sales of approximately $70 million, Dental Cremer serves approximately 60,000 dental practitioners across Brazil and has approximately 530 team members.

Henry Schein expects the transaction to be neutral to its 2016 earnings per share and accretive to its 2017 earnings per share by $0.01-$0.02. Completion of the transaction is subject to regulatory approval and other conditions, and is expected to close in the first half of 2016.

Mr. Paulo Batista, the Chief Executive Officer of Dental Cremer, and other members of Dental Cremer's management team will retain an ownership interest in the company. Mr. Batista will continue to lead the business as Managing Director.