Good Morning
Good Morning

Henry Schein ups its share of veterinary firm

Butler Schein Animal Health

Butler Schein Animal Health Credit: Handout

Henry Schein Inc., of Melville, said Thursday that it has bought out a partner in a veterinary supply business in a $155 million cash deal that gives it a 71.5 percent majority ownership of Butler Schein Animal Health.

Butler Schein, based in Dublin, Ohio, is a supply and sales channel for the products of about 400 manufacturers, with a network of 26,000 veterinary customers in the U.S., the company says. The partner, Oak Hill Capital Partners, sold its entire interest in Butler Schein.

Henry Schein Inc., Long Island’s largest publicly traded company, has 14,000 employees and a market capitalization of $5.93 billion. In the past four quarters it had $355.9 million profit on $8.21 billion sales to office-based medical, dental and veterinary customers.

Its stock fell 3 cents to $65.53 in early trading Thursday.

The company said the Butler Schein transaction will add 2 to 3 cents to its 2012 diluted earnings per share.

Henry Schein, which entered into the partnership with Oak Hill in January 2010, described Butler Schein Animal Health as the leading U.S. veterinary distributor. It serves all 50 states, and has 18 distribution centers and 12 call centers, with about 900 employees including a sales force of 300.

Henry Schein has one remaining partner in Butler Schein. That partner, The Ashkin Family Group, has the option to begin selling its remaining interest in 2015, according to a previous Newsday report on the deal.

Read more of Inside Long Island Business

More news