Courtesy of Benzinga.
Henry Schein (NASDAQ: HSIC) announced today plans to make a strategic investment in dental implant manufacturer BioHorizons, Inc., advancing the Company’s goal of expanding its position in the dental specialty market.
Henry Schein reached an agreement to acquire a 60% interest in BioHorizons, a U.S.-based manufacturer of advanced dental implants sold internationally. Under the agreement, BioHorizons, with revenue of approximately $115 million, will continue to operate as an independent company. Financial terms of the proposed transaction were not disclosed. The transaction with BioHorizons involves a two-step process: A recapitalization through which Henry Schein will lend approximately $145 million to BioHorizons to fund, among other uses, a distribution to shareholders, which will occur prior to closing, followed by the equity investment. Pending regulatory approval, Henry Schein expects to complete the transaction by the end of the year.
The agreement with BioHorizons strengthens Henry Schein’s position in a critical and growing market that also includes the company’s investment in CAMLOG Biotechnologies AG, a
