Henry Schein buys veterinary software maker eVetPractice
The Henry Schein Inc. building located on Duryea Road in Melville, Wednesday, Dec. 31, 2014. Credit: Steve Pfost
Henry Schein Inc., Long Island’s largest public company by revenue, Monday announced that it had acquired eVetPractice, a maker of cloud-based software used to run veterinary practices.
Financial terms of the deal were not disclosed.
Melville-based Henry Schein provides health-care products to the offices of dentists, veterinarians and doctors and posted 2016 revenue of $11.6 billion.
eVetPractice, based in Athens, Georgia, has about 900 customers. The company will join Henry Schein’s Veterinary Solutions unit, which already sells AVImark and ImproMed software to run veterinary practices.
“The highly regarded eVetPractice solution will complement these offerings for our current and prospective customers who prefer the benefits of a cloud solution,” said Chris Dollar, global president of Henry Schein Veterinary Solutions.
Henry Schein also makes software used in dental and medical practices.
“We at Henry Schein understand that partnering with eVetPractice enhances our ability to power successful practices by providing our customers with the latest in value-added services and technology solutions,” Stanley M. Bergman, Henry Schein chairman and chief executive, said in a statement.
Henry Schein expects the transaction to have no impact on its 2018 earnings per share, but add to them in the future.
Eddie Heinz, the founder of eVetPractice, will join the management team of Henry Schein Veterinary Solutions.
Shares of Henry Schein closed unchanged Monday at $70.16.
Henry Schein’s shares have fallen about 8 percent in the past 12 months amid warnings by Wall Street analysts that Seattle-based Amazon.com Inc. could take market share. Amazon reportedly has received licenses that would allow it to distribute pharmaceuticals and other medical products in several states.
Dental products account for about 48 percent of Henry Schein’s sales, followed by animal health, at 28 percent, medical at 20 percent and technology and value-added services, including practice-management software, at 4 percent.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
