Henry Schein, Inc. has acquired Regional Health Care Group Pty Ltd, a medical products distribution company who serves public- and private-sector customers in Australia and New Zealand.
“We are pleased to welcome the Regional Health Care Group to Henry Schein,” Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein said. “Together, we will advance our long-standing goal of helping health care professionals operate more efficient practices by providing new solutions and technologies for the ultimate benefit of patients.”
Established in 1998, Schein contributed a variety of products, equipment and services to the dental market in Australia and New Zealand. This addition will expand Henry Schein’s reach to medical practitioners across the region.
Schein recently acquired RHCG, which generated $42 million in sales in one year, ending on June 30, 2022. The transaction between the business executive and Maurie/Bernard Stang, who wholly owned the company and owned a minority interested in Shein’s ANZ dental business.
“Henry Schein expects the transaction to be neutral to 2023 diluted earnings per share when excluding amortization expenses and accretive thereafter. Financial terms were not disclosed,” a recent press release states.
Based in Sydney, Australia, Regional Health Care Group offers a range of exclusive or semi-exclusive consumables, equipment and pharmaceutical for public- and private-sector customers.
The company’s daily operations are overseen by General Manager Stephen Doorey, who is responsible for overseeing the business under the Regional Health Care Group brand. Doorey will be set to report to the Vice President and Managing DIrector of Henry Schein’s Australia/New Zealand-based businesses, Mike Covey.
“We are very pleased to integrate RHCG with Henry Schein, a company that shares our commitment to excellent service and provides customers with the solutions they need to deliver quality care to their patients,” Maurie Stang said. “It’s extremely gratifying to see the exciting opportunities to accelerate our growth.”