Henry Schein Inc. has agreed to acquire five dental equipment, distribution and software businesses from Waregem, Belgium-based Arseus NV for about $68 million.

Melville-based Schein said Monday that the deal for the companies in France, Belgium and the Netherlands continues the expansion of its European dental business. Terms of the deal were disclosed by Arseus.

Schein said the transaction for the five companies with total annual sales of about $97 million would dilute 2014 earnings by about 3 cents per share. Henry Schein revised its 2014 earnings-per-share guidance down three cents to between $5.29 and $5.39, representing growth of 8 to 10 percent.

Shares of Henry Schein closed down Monday 26 cents to $113.65.

"The Arseus businesses operate in attractive markets with good growth prospects, and have achieved strong market positions and excellent brand value," Henry Schein CEO Stanley Bergman said in a statement.

Bergman said 230 employees would be joining the company as a result of the acquisition.

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In a research note, Robert W. Baird analyst Jeffrey Johnson said he maintains an "outperform" rating on Henry Schein and supports the expansion of the company's European operations, though critics could question the dilutive effect on earnings of this and two other recent deals.

In November, Henry Schein announced it was acquiring a majority position in Polish animal health products company Medivet S.A. and a month later said it was taking a 60 percent stake in Birmingham, Ala.-based dental implant maker BioHorizons.