Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical practitioners, today announced the acquisition of Midway Dental Supply, a full-service dental distributor serving dental offices and dental laboratories across the Midwestern United States.
Henry Schein acquired 100% of Midway Dental, which was founded in 1987 by the late Roger Abigt, and is headquartered in Livonia, Michigan. This transaction is expected to be modestly dilutive to Henry Schein’s earnings per share in fiscal year 2022 and increasingly accretive thereafter. Financial terms were not disclosed.
Midway Dental’s sales from 2021 were approximately $110 million, including nearly $20 million in sales of personal protective equipment (PPE) and COVID-19 related products. Midway Dental offers a comprehensive portfolio of dental consumable merchandise, equipment, services, and education products to nearly 7,000 customers, which will be immediately consolidated into Henry Schein’s U.S. Dental business. The integration of Midway Dental’s sales and service team with Henry Schein’s network of trusted advisors will further advance the Company’s efforts to deliver customized solutions and technology-driven products and services to help our dental customers meet the needs of patients.
“Over the past 35 years, Midway Dental has earned an excellent reputation within the industry, grounded by a strong commitment to customer service and industry leadership that is aligned with Henry Schein’s values-based culture and high-touch, full-service business model,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “Midway Dental’s vision to establish a nationwide footprint aligns with Henry Schein’s commitment to provide the products and services customers can rely on to work more efficiently and deliver high-quality patient care more effectively.”
Led by CEO Steven Kizy, Midway Dental has approximately 200 employees, including 55 sales representatives and 50 service technicians. Mr. Kizy will join Henry Schein as Vice President, Strategic Development-U.S. Dental.
“As part of Henry Schein, Midway Dental will have access to new capabilities, including an expanded portfolio of solutions to serve our customers even better while offering our staff exciting new career possibilities,” added Mr. Kizy. “More specifically, Midway Dental’s customers will benefit from the vast array of Henry Schein branded products as well as the latest digital technologies that are modernizing dental practices. We are delighted to be joining forces with the world’s leading provider of dental products and services.”