MELVILLE, N.Y., Jan. 12, 2016 /PRNewswire/ -- Henry Schein, Inc. (NASDAQ: HSIC), the world's
largest provider of health care products and services to
office-based dental, animal health and medical practitioners,
announced today that its U.S. animal health business, Henry Schein
Animal Health, has completed the purchase of 80.1 percent interest
in Vetstreet, Inc., a leading software as a service (SaaS)
provider of marketing solutions and health information analytics to
veterinary practices and animal health product
manufacturers. The transaction was announced on November 2,
2015.
Founded in 2008 and headquartered in Yardley, PA.,
Vetstreet offers veterinary practices a fully integrated suite of
online and offline products and services that improve veterinary
practices' ability to communicate with pet owners for their pet
needs and enhance compliance with wellness visits. Vetstreet had
sales in 2014 of approximately $43 million. The remaining
minority interest in Vetstreet will continue to be owned
by VCA Inc. (NASDAQ: WOOF).
"We warmly welcome Vetstreet founder and President, Derrick Kraemer, who will continue to lead the
Vetstreet business, and the approximately 100 members of Vetstreet
to Team Schein," said Stanley M.
Bergman, Chairman of the Board and Chief Executive Officer
of Henry Schein, Inc. "The addition
of Vetstreet is a wonderful complement to our animal health
business, and our animal health practice solutions offerings,
AVImark® and ImproMed®. We look forward to continued
collaboration with our partner, VCA, as we grow the Vetstreet
business."
Vetstreet's services create a continuity of communication with
pet owners that builds customer loyalty, improves care through
better compliance and improves the health of veterinary practices.
With more than three million unique monthly visitors, Vetstreet's
consumer-facing website, Vetstreet.com, includes a wide variety of
features designed to connect pet owners with the veterinarian for
their pet needs, including pet-related education, training and
wellness content.
"We are pleased to partner with Henry
Schein," said Bob Antin,
Chief Executive Officer, President and Chairman, VCA. "We have
confidence that Henry Schein will
enhance and expand the capabilities that Vetstreet offers to build
bridges between veterinarians and their clients."
About Vetstreet, Inc.
Vetstreet, headquartered
in Yardley, PA, offers integrated online and offline
educational products, communication programs, and custom designed
marketing solutions for veterinary professionals seeking to
influence pet owner behavior in a medically appropriate and
measurable way. Vetstreet's automated marketing and communications
provide pet owners with highly personal, relevant, and timely
communications that enhance the bond with their veterinarian and
results in improved compliance and increased revenue for the
practice.
Vetstreet's primary product offering is complemented by three
consumer centric products: HealthyPet Magazine, an
educational and fun magazine targeted to pet owners, delivered as
part of a premier healthcare reminder system that also features
postcard reminders; Vetstreet's custom manufacturer marketing
programs and professional services that can include incentives to
pet owners and provides data analytics back to the practice with
measurable results; and Vetstreet.com, one of the fastest growing
online pet owner destinations dedicated to providing the most
trusted, authoritative information available to keep pet owners
informed about a wide variety of pet health-related news.
Vetstreet.com is part of the largest media networks in the country,
and offers marketers an ability to connect their brands to millions
of pet owners within the most credible consumer-focused website in
the animal health marketplace.
For more information, visit Vetstreet
at www.vetstreetpro.com and www.vetstreet.com/
About Henry Schein, Inc.
Henry Schein, Inc. (NASDAQ:HSIC) is the
world's largest provider of health care products and services to
office-based dental, animal
health and medical practitioners. The Company
also serves dental laboratories, government and
institutional health care clinics, and other alternate care
sites. A Fortune 500® Company and a member of
the S&P 500® and the NASDAQ 100® indexes,
Henry Schein employs more than
18,000 Team Schein Members and serves more than one
million customers.
The Company offers a comprehensive selection of products and
services, including value-added solutions for operating efficient
practices and delivering high-quality care. Henry Schein operates through a centralized and
automated distribution network, with a selection of more than
100,000 branded products and Henry
Schein private-brand products in stock, as well as more than
150,000 additional products available as special-order items. The
Company also offers its customers exclusive, innovative technology
solutions, including practice management software and e-commerce
solutions, as well as a broad range of financial services.
Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 33
countries. The Company's sales reached a record $10.4
billion in 2014, and have grown at a compound annual rate of
approximately 16 percent since Henry
Schein became a public company in 1995. For more
information, visit Henry Schein
at www.henryschein.com, Facebook.com/HenrySchein and
@HenrySchein on Twitter.
Cautionary Note Regarding Forward-Looking Statements
In accordance with the "Safe Harbor" provisions of the Private
Securities Litigation Reform Act of 1995, we provide the following
cautionary remarks regarding important factors that, among others,
could cause future results to differ materially from the
forward-looking statements, expectations and assumptions expressed
or implied herein. All forward-looking statements made
by us are subject to risks and uncertainties and are not guarantees
of future performance. These forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause our actual results, performance and achievements or
industry results to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. These statements are
identified by the use of such terms as "may," "could," "expect,"
"intend," "believe," "plan," "estimate," "forecast," "project,"
"anticipate" or other comparable terms.
Risk factors and uncertainties that could cause actual results
to differ materially from current and historical results include,
but are not limited to: effects of a highly competitive market; our
dependence on third parties for the manufacture and supply of our
products; our dependence upon sales personnel, customers, suppliers
and manufacturers; our dependence on our senior management;
fluctuations in quarterly earnings; risks from expansion of
customer purchasing power and multi-tiered costing structures;
possible increases in the cost of shipping our products or other
service issues with our third-party shippers; general global
macro-economic conditions; disruptions in financial markets;
possible volatility of the market price of our common stock;
changes in the health care industry; implementation of health care
laws; failure to comply with regulatory requirements and data
privacy laws; risks associated with our global operations;
transitional challenges associated with acquisitions and joint
ventures, including the failure to achieve anticipated synergies;
financial risks associated with acquisitions and joint ventures;
litigation risks; the dependence on our continued product
development, technical support and successful marketing in the
technology segment; risks from challenges associated with the
emergence of potential increased competition by third-party online
commerce sites; risks from disruption to our information systems;
cyberattacks or other privacy or data security breaches; certain
provisions in our governing documents that may discourage
third-party acquisitions of us; and changes in tax legislation. The
order in which these factors appear should not be construed to
indicate their relative importance or priority.
We caution that these factors may not be exhaustive and that
many of these factors are beyond our ability to control or
predict. Accordingly, any forward-looking statements
contained herein should not be relied upon as a prediction of
actual results. We undertake no duty and have no
obligation to update forward-looking statements.
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SOURCE Henry Schein, Inc.