Henry Schein has signed a deal to acquire the Switzerland-based privately held dental distribution company Condor Dental Research Company.
Schein will acquire the company from the healthcare holding company MCCB Holding, which is wholly owned by the Libon family. Financial terms of the deal were not disclosed. The acquisition, which will expand Schein's entry into the Swiss market, is expected to be neutral to Schein's 2022 diluted earnings per share and to be accretive thereafter.
In 2021, Condor Dental, which was established in 1978, reported sales of approximately $18 million. Most of its sales were from dental consumable merchandise, with the remainder of the revenue coming from the customization of dental practices and dental laboratory installations.
Once the deal closes, Condor Dental will join Henry Schein's international distribution group. Condor Dental will continue to be led by Yves Mailliard, Condor's chief operating officer.