Henry Schein takes a 50 per cent stake in Prime Practices

Henry Schein, Inc., the world’s largest provider of health care products and services to office-based dental, animal health and medical practitioners, has signed an agreement to make a 50% equity investment in Prime Practice, a leading dental practice management services company based in Sydney and serving customers in Australia, New Zealand, Canada, the United States and Singapore.

The investment will strengthen Henry Schein’s practice management services, offering customers new ways to build better dental practices. The transaction includes Practice Sales Search, the Company’s Dental Practice Brokerage Firm. Prime Practice was founded in 1998 by Dr Phillip Palmer and Dr Michael Sernik, along with business partner Anita Roubicek, all of whom will continue to co-manage the company and hold the remaining ownership interest in Prime Practice.

Note: Subsequent to the publication of this article, Henry Schein, Inc. did not complete its investment in Prime Practice. Instead, Henry Schein, Inc. and Prime Practice have formed a strategic alliance without the exchange of equity.