Henry Schein has entered the Japanese market with an investment in Iwase Dental Supply.
Japan is the world's second-largest dental market, and the deal marks the 28th country in which Henry Schein operates, according to a company press release in which financial details were not disclosed.
Iwase Dental Supply's existing shareholders, including the Iwase family, will continue to hold the remaining shares of the company. Schein expects the transaction to be neutral to its earnings per share in 2015.
Founded in 1926 with headquarters in Utsunomyia, Japan, Iwase is the third-largest dental dealer in the country and is a privately held company with 240 employees, including 150 sales representatives. The company operates one distribution facility and has 14 branch offices serving nine prefectures, including the eight prefectures surrounding Tokyo, as well as Iwate in northern Japan.
Japan has about 68,000 practicing dentists serving an aging population and increasing demand for elective dental procedures will continue to grow, according to Henry Schein.
Headquartered in Melville, NY, Henry Schein's global dental business had 2013 sales of approximately $5 billion.
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