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."
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