Henry Schein Acquires Majority Interest In Dental Software Company, The Exan Group
Henry Schein (NASDAQ: HSIC) today announced that is has acquired a majority interest in The Exan Group, a privately held dental software company with headquarters in Port Coquitlam, British Columbia, Canada. The remaining ownership interest will continue to be held primarily by Exan executive management. Through this transaction Henry Schein further expands its business with dental schools in the U.S. and Canada, as well as general practice dental offices primarily in Canada.
Sales by Exan for the last 12 months were approximately $11.7 million. This transaction is expected to be neutral to Henry Schein's financial results for the remainder of 2012 and 2013, and expected to be accretive thereafter. Financial terms were not disclosed.
Exan's main product is axiUm, a dental institution management software solution that is sold to approximately 65 dental schools in the U.S. and Canada and represents approximately 75% of total revenue. Exan also develops and sells Power Practice, a practice management software solution for general dental