Henry Schein buys three units of Jericho-based Darby Group Companies
Long Island Business News, Jun 21, 2006 by Henry E. Powderly II
Heath-care products provider Henry Schein said Wednesday it will buy the assets of three units of Jericho-based Darby Group Companies for $51.5 million in cash.
Schein, one of Long Island's largest employers, will acquire Island Dental Co., which it will fold into its Sullivan-Schein Dental division, and Darby Dental Laboratory Supply Co., which it will assimilate into its Zahn Dental Laboratory division.
Lastly, Schein will grab Darby Medical Supply, which supplies both generic and branded drugs to small medical practices, to become part of its Medical Group.
The three units of Darby had $219 million in sales in 2005, according to Schein.
The Melville-based company expects the acquisition to have little effect on its 2006 profit. However, Schein said the deal should add from 1 cent to 3 cents per share to its fiscal 2007 profit.
Shares of Henry Schein (Nasdaq: HSIC) closed at $45.26 apiece Tuesday.
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