Henry Schein to Acquire S.I.N. Implant System

Henry Schein Inc. is purchasing S.I.N. Implant System, one of Brazil’s leading manufacturers of dental implants, pending regulatory approval. Terms of the deal were not disclosed.
 
S.I.N. is a major provider of dental implants in Brazil, generating approximately $61 million in 2022 sales. Henry Schein has served dental practitioners in Brazil since 2014, and the acquisition of S.I.N. will mark the company’s entry into Brazil’s dental implant market.
 
Henry Schein will acquire S.I.N. from the Southern Cross Group, one of the largest independent private equity fund managers focused on Latin America. The transaction is subject to approval by Brazil’s Administrative Council for Economic Defense and is expected to close in the latter half of 2023. Henry Schein expects this transaction to be slightly dilutive to its 2023 non-GAAP earnings per share, primarily due to non-cash acquisition accounting adjustments for inventory, and to be accretive thereafter. 
 
“The acquisition of S.I.N. represents the natural progression of our BOLD+1 Strategy to expand our fast-growing dental specialties businesses, where we have a proven track record of successful acquisitions resulting in profitable growth in addition to our internal growth,” Henry Schein Board Chairman and CEO Stanley M. Bergman said. “We are delighted to partner with S.I.N. and believe that through our combined resources, we will be well-positioned to address the growing demand for implants and bone regeneration products in both the developed and emerging markets. Brazil is one of the fastest-growing markets in the world for dental implants due to an increasing awareness of the importance of oral health, coupled with a large aging population.”
 
Based in São Paulo and founded in 2003, S.I.N. manufactures an extensive line of products to perform dental implant procedures and is focused on advancing the development of value-priced dental implants. S.I.N. recently expanded the distribution of its products into the United States and other international markets.
 
“By joining forces with Henry Schein, a world leader in dental products and related services, we will accelerate our growth in Brazil as well as advance our global expansion,” S.I.N. Implant System President Felipe Leonard stated. He will continue to lead the company once the acquisition is completed. “The S.I.N. team is inspired by the Henry Schein culture that we share and which supports sustainability and social responsibility. We look forward to a bright future together, full of opportunities to help our customers advance the practice of implant dentistry by delivering leading technology with a human touch.”
 
Once the transaction closes, S.I.N. will become a part of Henry Schein’s Global Oral Reconstruction Group. The group includes, among other businesses, BioHorizons, Camlog, Biotech Dental, and medentis medical, which collectively form a supplier of premium and value dental implant systems and restorative components with a line of biologics products and digital solutions.
 
“S.I.N.’s portfolio of solutions is an excellent complement to our existing offering of oral reconstruction products and services,” said René Willi, CEO of Henry Schein’s Global Oral Reconstruction Group. “In addition, the Henry Schein and S.I.N. teams share a mutual commitment to offer customers tooth replacement solutions that are evidence-based and scientifically supported to help to improve the quality of life for patients. We look forward to welcoming the S.I.N. Implant System team to Henry Schein.”
 
Henry Schein Inc. is a solutions company for healthcare professionals. With more than 22,000 Team Schein members worldwide, the company’s network of advisors provides more than 1 million customers globally with more than 300 valued solutions that help improve operational success and clinical outcomes. Its business, clinical, technology, and supply chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional healthcare clinics, as well as other alternate care sites. Henry Schein operates through a centralized and automated distribution network, with a selection of more than 300,000 branded products and Henry Schein private-brand products in stock. A FORTUNE 500 Company and a member of the S&P 500 index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 32 countries and territories. The company’s sales reached $12.6 billion in 2022, and have grown approximately 12.1% since Henry Schein became a public company in 1995.