Henry Schein buys stake in Exan Group
MELVILLE, N.Y. (AP) — Health care products company Henry Schein Inc. said Thursday that it has acquired a majority stake in Canadian dental software company The Exan Group.
The financial terms were not disclosed.
Henry Schein said that the deal will expand its business with dental schools in the U.S. and Canada, as well as in general practice dental offices.
Exan is privately held and the remaining ownership interest will be held primarily by Exan executives. The company generated $11.7 million in sales during the past 12 months.
The company's main product is axiUm, dental management software that is sold to 65 dental schools in the U.S. and Canada. It also sells Power Practice, software sold to roughly 750 practices in the U.S. and Canada.
Henry Schein said the deal will not add to earnings until 2014.
Exan CEO Ted Devries will serve as president of the company and its Chief Financial Officer Bill Gold will serve as vice president of finance.
Henry Schein, based in Melville, N.Y., provides health care products and services to dental, medical and animal health practitioners.
Shares of Henry Schein increased 24 cents to $79.56 in afternoon trading.