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Henry Schein (HSIC) Enhances Dental Practices With New Deal
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Henry Schein, Inc.’s (HSIC - Free Report) dental solution business is likely to get a major boost with the acquisition of 70% ownership stake in eAssist Dental Solutions (eAssist). Notably, the financial terms of the deal were kept under wraps.
For investors’ note, eAssist reported sales of nearly $31 million in 2020. Henry Schein projects that eAssist will be slightly dilutive to the company’s financial results of 2021, but will be accretive thereafter.
The latest development will support Henry schein’s objective to provide best-quality solutions to support dental practices to function more efficiently and profitably, thereby freeing up practice resources to be committed toward patient care.
Few Words on eAssist
Established in 2011, eAssist is the nation’s leading provider of remote dental billing and patient billing services for dental offices and is headquartered in UT-based American Fork.
Currently, eAssist is developed to help dental practices of all sizes through technology supported by a network of dental billing professionals.
By bringing together technology and human expertise, eAssist offers outsourced insurance billing services to dental practices, thus helping them free-up resources to focus on patient care and clinical outcomes.
Significance of the Addition of eAssist
Per Henry Schein’s management, by acknowledging the important topic of collections, the company is extending its value-added services and solidifying its relationship as a trusted advisor to customers. The addition of eAssist will enable dental practitioners bolster cash flow from timely collections as well as more accurate claims submissions and processing.
Henry Schein has a long-standing commitment when it comes to supporting growth, efficiency, and profitability of dental practice via its all-inclusive offering of solutions. Notably, the addition of eAssist to the Henry Schein’s growing portfolio of value-added services will enable the company’s customers to boost their critical insurance and billing functions, thereby enabling dental teams to focus on delivering quality patient care.
Industry Prospects
Per Acumen Research and Consulting, the global dental practice management software market is expected to reach $2.8 billion by 2026 at a CAGR of more than 11.5%.
Considering the market opportunities, Henry Schein’s acquisition of majority stake in eAssist is well-timed.
Recent Developments in Dental Business
In May 2021, Henry Schein’ subsidiary — Henry Schein One — acquired an 80% ownership stake in Jarvis Analytics. The acquired company helps dental practitioners and their teams to utilize analytical data to analyze problems, improve decision making, and advance business performance.
In the same month, Henry Schein One announced the availability of a new software module — Consistency of Care — that integrates dental and medical patient records. The module, developed by Exan Software (a Henry Schein One company and the creator of the axiUm dental management software suite), is expected to cater to the growing need for interoperability and information sharing between dentistry and medicine, thereby offering comprehensive services to patients.
Price Performance
Shares of the company have gained 38.7% in a year’s time compared with the industry’s 34.6% rise.
Zacks Rank and Key Picks
Currently, the company carries a Zacks Rank #2 (Buy).
Envista Holdings has an estimated long-term earnings growth rate of 26%.
Inogen has an estimated long-term earnings growth rate of 33%.
IDEXX Laboratories has a projected long-term earnings growth rate of 20%.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Image: Bigstock
Henry Schein (HSIC) Enhances Dental Practices With New Deal
Henry Schein, Inc.’s (HSIC - Free Report) dental solution business is likely to get a major boost with the acquisition of 70% ownership stake in eAssist Dental Solutions (eAssist). Notably, the financial terms of the deal were kept under wraps.
For investors’ note, eAssist reported sales of nearly $31 million in 2020. Henry Schein projects that eAssist will be slightly dilutive to the company’s financial results of 2021, but will be accretive thereafter.
The latest development will support Henry schein’s objective to provide best-quality solutions to support dental practices to function more efficiently and profitably, thereby freeing up practice resources to be committed toward patient care.
Few Words on eAssist
Established in 2011, eAssist is the nation’s leading provider of remote dental billing and patient billing services for dental offices and is headquartered in UT-based American Fork.
Currently, eAssist is developed to help dental practices of all sizes through technology supported by a network of dental billing professionals.
By bringing together technology and human expertise, eAssist offers outsourced insurance billing services to dental practices, thus helping them free-up resources to focus on patient care and clinical outcomes.
Significance of the Addition of eAssist
Per Henry Schein’s management, by acknowledging the important topic of collections, the company is extending its value-added services and solidifying its relationship as a trusted advisor to customers. The addition of eAssist will enable dental practitioners bolster cash flow from timely collections as well as more accurate claims submissions and processing.
Henry Schein has a long-standing commitment when it comes to supporting growth, efficiency, and profitability of dental practice via its all-inclusive offering of solutions. Notably, the addition of eAssist to the Henry Schein’s growing portfolio of value-added services will enable the company’s customers to boost their critical insurance and billing functions, thereby enabling dental teams to focus on delivering quality patient care.
Industry Prospects
Per Acumen Research and Consulting, the global dental practice management software market is expected to reach $2.8 billion by 2026 at a CAGR of more than 11.5%.
Considering the market opportunities, Henry Schein’s acquisition of majority stake in eAssist is well-timed.
Recent Developments in Dental Business
In May 2021, Henry Schein’ subsidiary — Henry Schein One — acquired an 80% ownership stake in Jarvis Analytics. The acquired company helps dental practitioners and their teams to utilize analytical data to analyze problems, improve decision making, and advance business performance.
In the same month, Henry Schein One announced the availability of a new software module — Consistency of Care — that integrates dental and medical patient records. The module, developed by Exan Software (a Henry Schein One company and the creator of the axiUm dental management software suite), is expected to cater to the growing need for interoperability and information sharing between dentistry and medicine, thereby offering comprehensive services to patients.
Price Performance
Shares of the company have gained 38.7% in a year’s time compared with the industry’s 34.6% rise.
Zacks Rank and Key Picks
Currently, the company carries a Zacks Rank #2 (Buy).
A few similar-ranked stocks from the broader medical space are Envista Holdings Corporation (NVST - Free Report) , Inogen, Inc (INGN - Free Report) and IDEXX Laboratories, Inc. (IDXX - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.
Envista Holdings has an estimated long-term earnings growth rate of 26%.
Inogen has an estimated long-term earnings growth rate of 33%.
IDEXX Laboratories has a projected long-term earnings growth rate of 20%.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>