Henry Schein acquires majority interest in Large Practice Sales LLC
Company also signs agreement to acquire majority ownership in Shield Healthcare, Inc.
Henry Schein, Inc. announced on Aug. 2 the acquisition of a majority ownership interest in Large Practice Sales LLC (LPS), a leading advisor to independent dental practices on their sale or partnership with larger general practice and dental specialists.
Headquartered in Irving, Texas, LPS had 2022 net sales of approximately $40 million, according to a news release. Henry Schein expects the LPS transaction to be neutral to 2023 non-GAAP diluted earnings per share and accretive thereafter. Financial terms were not disclosed.
“LPS is complementary to our existing Dental Practice Transition business and commitment to provide value-added services to our customers,” said Stanley M. Bergman, chairman of the board and CEO of Henry Schein, Inc. “For many years, we have had a successful practice transitions group dedicated to assisting smaller and mid-sized dental practices. By combining our expertise, we can effectively meet the needs of a broader range of dental professionals and ensure their success throughout the transition process.”
Joining Henry Schein from LPS are co-founders Chip Fichtner, who will remain as head of development, and Matt Wilkins, who will continue in his role of head of operations and transaction execution. Fichtner and Wilkins will hold a minority ownership interest in the business, along with other key members of LPS’s management team.
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