Henry Schein expands practice transition services, acquires ADS Florida LLC
Henry Schein Inc. announces the acquisition of ADS Florida LLC, a dental practice transition and brokerage company serving the Florida, and its parent company, Professional Transitions Inc.
The acquisition expands the geographic reach of Henry Schein's practice transitions offerings to dental practice owners looking to buy or sell their practices. Financial and other terms of the transaction were not disclosed. Henry Schein expects the transaction to be neutral to its 2015 earnings per share.
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Based in Naples, ADS Florida specializes in dental practice sales, appraisals, and practice transitions – including partnerships, fractional sales, and associate buy-ins and buy-outs. ADS Florida will become part of Henry Schein Financial Services LLC (HSFS), a wholly-owned subsidiary of Henry Schein Inc. In addition to practice transitions, HSFS offers business solutions for health-care practitioners, including equipment leasing and financing, and patient and practice credit card services.
ADS Florida will continue to be led by Dr. Paul Rang, who represents the company's business in central and northern Florida; Dr. Stuart Auerbach, responsible for its business on Florida's east coast; and Greg Auerbach, responsible for ADS Florida's business on the state's west coast.
"We are delighted to welcome Dr. Rang, Dr. Auerbach, Greg Auerbach, and their ADS Florida colleagues to Henry Schein as our Financial Services business continues to expand its practice transitions footprint in large markets where the dental industry is flourishing," said Stanley M. Bergman, Chairperson of the Board and CEO of Henry Schein. "With our acquisition of ADS Florida, we are building upon last year's acquisition of the Maddox Practice Group in California. These two successful companies enable us to extend the reach of our offerings to dental practice owners who are looking to buy or sell their practices in two of the country's three most populous states."