Henry Schein Inc. (Nasdaq: HSIC) has completed the merger of its US animal health business with Butler Animal Health Supply, a portfolio company of Oak Hill Capital Partners and The Ashkin Family Group. The combined animal health distribution company has been renamed Butler Schein Animal Health, and would have had around $850 million in revenue over the past 12 months. Henry Schein holds a 50.1% stake in the newly formed entity, with Butler owners holding the other 49.9 percent.
Henry Schein, Inc. (NASDAQ: HSIC) and Butler Animal Health Supply today announced the closing of the transactions to form Butler Schein Animal Health, a new company that combines Butler Animal Health Supply and Henry Schein’s U.S. Animal Health businesses. Butler Schein Animal Health is 50.1%-owned by Henry Schein and 49.9%-owned by the owners of Butler Animal Health Supply (Oak Hill Capital Partners and The Ashkin Family Group). The transaction was announced on November 30, 2009 and closed on December 31, 2009.
Headquartered in Dublin, Ohio, Butler Schein Animal Health is the leading U.S. companion animal health distribution company with combined revenues for the last 12 months of approximately $850 million on a U.S. GAAP (General Accepted Accounting Principles) basis. Approximately 900 Butler Schein Animal Health team members, including approximately 300 field sales representatives and approximately 200 telesales and customer support representatives, will serve animal health customers in all 50 states.
“We are delighted to announce the formation of Butler Schein Animal Health, and look forward to new opportunities for the combined businesses to share best practices. Butler Schein Animal Health has the largest veterinary sales and distribution footprint in the U.S., and begins operations with the outstanding reputation and strong customer focus that are the hallmarks of Henry Schein and Butler Animal Health Supply,” said Henry Schein Chairman and Chief Executive Officer, Stanley M. Bergman.
“The foundation of Butler Schein Animal Health is a relentless focus on customers and a company-wide commitment to exceeding their expectations,” said Kevin R. Vasquez, Chairman, President and Chief Executive Officer of Butler Schein Animal Health and former Chairman, President and Chief Executive Officer of Butler Animal Health Supply. “Through a close working relationship with our supplier partners we will offer veterinarians nationwide the broadest selection of products and value-added services in the industry. With seasoned veterinary professionals at all levels of the organization, we are confident that manufacturers will benefit from our unmatched reach and marketplace insight and customers will gain from one-stop shopping and superior customer service.”
About the Henry Schein Animal Health Businesses
Henry Schein’s U.S. Animal Health business includes Henry Schein’s telesales and field sales organizations as well as NLS, which was acquired in 2006. These operations serve more than 10,000 clinics and veterinary practices through a national network of distribution centers, and online through www.henryschein.com, www.nlsanimalhealth.com and www.MyVetDirect.com.
As the leading animal health products distributor in Europe, Henry Schein’s International Animal Health business serves more than 18,000 customers and has operations in Austria, the Czech Republic France, Germany, Portugal, Spain, Switzerland and the United Kingdom. Henry Schein’s International Animal Health business will continue to be operated by Henry Schein and is not part of Butler Schein Animal Health. Henry Schein’s International Animal Health business had sales in the last 12 months of approximately $620 million.
About Butler Animal Health Supply
Butler Animal Health Supply is the nation’s largest distributor of companion animal health supplies to veterinarians. Headquartered in Dublin, Ohio, the Company has 16 distribution centers and seven telecenters. Butler Animal Health Supply serves over 25,000 veterinary clinics in all 50 states and distributes over 12,000 products from more than 445 vendors. The organization includes the industry’s largest and highest-ranked sales force of approximately 375 sales representatives, including 220 field sales representatives and 155 telesales representatives. For more information, visit Butler Animal Health Supply at www.accessbutler.com.
About Henry Schein
Henry Schein, a Fortune 500® company and a member of the NASDAQ 100® Index, is the largest provider of health care products and services to office-based practitioners. Recognized for its excellent customer service and highly competitive prices, the Company’s four business groups – Dental, Medical, International and Technology – serve approximately 590,000 customers worldwide, including dental practitioners and laboratories, physician practices and animal health clinics, as well as government and other institutions. Henry Schein operates through a centralized and automated distribution network, which provides customers in more than 200 countries with a comprehensive selection of more than 90,000 national and Henry Schein private-brand products in stock, as well as more than 100,000 additional products available as special-order items. Henry Schein also provides exclusive, innovative technology offerings for dental, medical and veterinary professionals, including value-added practice management software and electronic health record solutions.
Headquartered in Melville, N.Y., Henry Schein employs more than 13,500 people and has operations or affiliates in 23 countries. The Company’s net sales reached a record $6.4 billion in 2008. For more information, visit the Henry Schein Web site at www.henryschein.com.