The deal allows Henry Schein to enter into the dental market of Japan, which is claimed to be second largest dental market across the globe.

Henry Schein board chairman and CEO Stanley Bergman said: "Henry Schein is pleased to enter the world’s 2nd largest dental market alongside such a highly regarded partner as Iwase Dental Supply.

"Building on the strong 89-year heritage of Iwase Dental Supply, we look forward to working with the Iwase family and benefitting from their unique market insights and decades of industry leadership."

According to Henry Schein, Iwase Dental’s existing shareholders, along with the Iwase family, will continue to hold the remaining shares in the company.

Iwase Dental has one distribution facility and runs 14 branch offices in Japan. It serves nine prefectures, including the eight prefectures surrounding Tokyo, as well as Iwate in northern part of the company.

Based in Utsunomyia, Iwase Dental comprises 240 team members, including 150 sales representatives.

Kenichiro Iwase monitors the operations of the company, which was established in 1926. He was named as representative director and managing director of Henry Schein Japan, and will continue to head Iwase Dental Supply.