Henry Schein Inc. has strengthened its dental specialty offering with the acquisition of Ortho Technology, Inc., which has been one of the largest (if not the largest) privately-owned companies in the New Tampa area the last 21 years, although financial terms of the purchase were not disclosed.
Ortho Technology is a Tampa Palms-based company that distributes orthodontic products, primarily to orthodontists. The company, founded in 1991, has about 90 employees and posted reported 2011 sales of $24 million. Henry Schein (NASDAQ: HSIC), is a Melville, NY, firm that provides health care products and services to office-based dental, medical and animal health practitioners.
Brian Leaghty, president of Ortho Technology, will serve as a consultant for a year to ensure a smooth transition. Ortho Technology offers a complete line of orthodontic supplies including brackets, bands, buccal tubes, archwires, adhesives, laboratory supplies and patient accessories. The company serves more than 10,000 customers worldwide via direct sales from the U.S. and distributors across the globe.
“With this transaction, we are further penetrating the $1.25-billion global orthodontics market with a company that’s been gaining market share for years,” said a spokesperson for Henry Schein. “We will leverage Ortho Technology’s aesthetic brackets and its best-in-class direct marketing expertise.”
Leaghty says, “Orthodontics is an exciting dental specialty characterized by product innovation and growing global demand. As part of Henry Schein, Ortho Technology has considerably enhanced (its) business prospects and an opportunity to solidify market share gains into the future.”