Patterson Companies, Inc. has announced that it has entered into an amendment of its exclusive distribution agreement with Schick Technologies, Inc. Since May 1, 2000, Patterson Dental, the Company's dental unit, has been the exclusive distributor of Schick's complete line of CDR(R) digital dental products in the U.S. and Canada and has played a key role in the promotion, sale, installation, service and support of Schick's digital product line throughout North America.
The amendment extends the term of the companies' exclusive distribution agreement through December 31, 2007. It also requires that, to maintain its exclusivity, Patterson must meet certain performance criteria, including minimum purchase quotas, which are adjusted in the amendment to reflect current expectations.
Scott R. Kabbes, president of Patterson Dental, commented: "We are delighted by the renewal of our agreement with Schick Technologies, one of our key vendor partners. The digital products market is one of the fastest growing in dentistry today. We believe that the combined strengths of Patterson and Schick will continue to allow us to provide the best digital products to dentists in the United States and Canada."
Jeffrey T. Slovin, Schick's president and chief executive officer, said: "Since its commencement in early 2000, our strategic partnership with Patterson has grown into a very robust and mutually-beneficial relationship. We believe that Schick's technological know-how and innovation, coupled with Patterson's sales and service capabilities, create a unique opportunity for dentists in this digital age. Our new agreement capitalizes on our respective skills and appropriately reflects the way in which the alliance between our two companies has developed so successfully over the past five years. We look forward, with great optimism, to continuing to work with Patterson."
