MELVILLE, N.Y., Jan. 3, 2011 /PRNewswire/ -- Henry Schein, Inc. (Nasdaq: HSIC), the largest provider of health care products and services to office-based practitioners, today announced it has completed the acquisition of Provet Holdings Limited (ASX: PVT). All closing conditions have been met, including approval of the transaction by a majority of Provet Holdings shareholders.
Provet Holdings is Australasia's largest wholesale distributor of veterinary products. Based in Brisbane, Queensland, Provet Holdings reported revenue for the fiscal year ended June 30, 2010 of approximately AUD$283 million (USD$278 million). The last day of trading of its shares on the Australian Stock Exchange was December 16, 2010.
"With this transaction we have further strengthened our position as the global leader in the distribution of veterinary products. Henry Schein's global veterinary business now has annual revenues of nearly $2 billion and we serve approximately 47,000 veterinary practices worldwide," said Stanley M. Bergman, Chairman and Chief Executive Officer of Henry Schein. "The rapid growth of Henry Schein's worldwide animal health presence reflects our long-term commitment to our veterinary customers and our firm belief in the significant potential of the global animal health market."
"Through the comprehensive array of products and services we offer animal health practitioners, we are helping our customers to operate more efficient and successful practices so they can focus on providing quality care. The scale of our veterinary business allows us to share best practices across geographies, and also to provide unrivaled value and market intelligence to the companies whose products and services we represent," he added. "We welcome Provet CEO Dr. Nigel Nichols and his colleagues to Team Schein."
Provet Holdings is a full-service
|SOURCE Henry Schein, Inc.|
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