Henry Schein, a provider of health care products and services to office-based dental, animal health and medical practitioners, announced it has completed the acquisition of a majority ownership interest in Dental Cremer, a distributor of dental supplies and equipment in Brazil.
The signing of the definitive agreement for this transaction was previously announced on February 5, 2016.
Dental Cremer, previously the dental distribution business of Cremer S.A., had 2016 net sales of approximately $145 million, serves nearly 90,000 dental practitioners across Brazil, and has more than 1,000 team members.
Dental Cremer Chief Executive Officer Paulo Batista and members of Dental Cremer's management team will join Henry Schein. Mr. Batista will continue to lead Dental Cremer as Managing Director.
"We are pleased to welcome the Dental Cremer team to Henry Schein," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein, Inc.
"We first entered the Brazilian dental market in 2014 and our relationship with Dental Cremer underscores our long-term mission to serve dentists throughout Brazil and across South America.
“Together, we are well-positioned to benefit from market growth that is being fueled by an expanding middle class and aging population.
“We look forward to combining our resources and identifying new opportunities to help practitioners in Brazil operate successful practices and provide quality care to patients."
Dental Cremer is now part of Henry Schein's Global Dental business, the leading global distributor of products and services, including innovative digital dental technology solutions, to office-based general dental practitioners, dental specialists and dental laboratories.
"We are especially excited to partner with Henry Schein and work together to bring new services and solutions to the Brazilian dental community. We look forward to offering even more customized solutions best suited to our customers' practice needs," said Paulo Batista.