Henry Schein has entered into a "definitive transaction" with dental equipment and supply company J. Morita to expand the company's presence in Japan.
Henry Schein did not disclose the financial terms of the transaction, which will result in the company owning a 50% interest in One Piece, a subsidiary of J. Morita. One Piece serves approximately 6,000 dental clinics and had about $125 million in aggregate sales in 2015.
Japan has approximately 90,000 dentists and about 64,000 dental clinics. With the addition of One Piece, Henry Schein Japan will serve approximately 20% of Japan's dentists, according to the company.
"We are very pleased to be working with Henry Schein, a global leader in oral health and a company whose values and business approach we share," stated Haruo Morita, president and CEO of J. Morita, in a press release. "This new partnership will expand our mutual efforts to advance the dental profession in Japan for the benefit of the patient."
