December 16, 2022 – Henry Schein announced a definitive agreement with the shareholders of Biotech Dental S.A.S., a rapidly growing provider of innovative clinical software and oral surgery and orthodontic products based in Salon-de-Provence, France, to acquire a majority ownership stake in the company.
Henry Schein and Biotech Dental will partner to bring Biotech Dental’s full line of high-quality software, products, and services, including dental prostheses, clear aligners, dental implants, regenerative solutions, and biomaterials, to more dentists and dental laboratories as well as new geographies. The closing of this transaction is subject to certain regulatory approvals.
Biotech Dental has several important solutions, including Nemotec, a comprehensive, integrated suite of planning and diagnostic software using open architecture that connects disparate devices to create a digital view of the patient’s oral health condition, offering greater diagnostic accuracy and an improved patient experience. Biotech Dental is also one of the fastest-growing implant and custom abutment brands in France, as well as the manufacturer of the Smilers® brand of clear aligners. In addition, Biotech Dental has launched LaGalaxy®, a comprehensive, open, and secure software platform where both clinical and administrative tasks can be performed. Within a single platform, dentists and dental laboratories benefit from end-to-end integrated digital solutions that help improve case outcomes while speeding treatment time, shortening case completion, and lowering the costs of implants, orthodontic, and prosthetic treatments.
Biotech Dental will maintain its own brands and go-to-market strategies.
Under the terms of the transaction, Henry Schein will acquire a majority ownership position in Biotech Dental. Upperside Capital Partners Group will continue to own the remaining minority interest in the company. For the fiscal year 2021, Biotech Dental’s revenue was approximately $100 million. Henry Schein expects this transaction to be slightly dilutive to 2023 earnings per share when excluding amortization. The dilution is primarily due to non-cash acquisition accounting adjustments for inventory. Financial terms were not disclosed.
Mr. Veran will continue to lead the business, supported by Dr. Olivia Veran, a dental surgeon who is Biotech’s Senior Vice President and Managing Director. Mr. Veran has been a serial entrepreneur for the past 35 years, received the Entrepreneur of the Year award from Ernst & Young in 2018, and was raised to the level of Knight of the French Legion of Honor in 2021.