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Henry Schein (HSIC) Acquires Majority Stake in Biotech Dental
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Henry Schein (HSIC - Free Report) recently acquired a majority stake in Biotech Dental, one of the largest providers of end-to-end dental solutions. The collaboration aims to create a digital workflow that will enable both companies’ customers to increase case acceptance and improve clinical outcomes for practitioners.
The planned strategic partnership is likely to strengthen Henry Schein’s portfolio of digital dental solutions and the rapidly-growing implant and clear aligner segment.
Significance
Biotech Dental’s expansive offering includes Nemotec, a comprehensive and integrated suite of planning and diagnostic software. By using the open architecture that connects disparate medical devices to create a digital view of the patient, the software assures higher diagnostic accuracy and an improved patient experience.
Image Source: Zacks Investment Research
The company recently launched its open and secure software platform, LaGalaxy, where both clinical and administrative tasks can be performed. Dentists and dental laboratories can benefit from end-to-end integrated digital solutions that help improve case outcomes while speeding treatment time, shortening case completion and lowering the costs of implants, orthodontic, and prosthetic treatments.
Additionally, Biotech Dental is one of the fastest-growing manufacturers in France of custom abutments and implants under the Kontact brand and clear aligners under the Smilers brand.
The integration of Henry Schein One’s practice management software solutions with Biotech Dental’s software will help customers streamline their clinical and administrative workflow for the ultimate benefit of patients. Per a representative at Henry Schein, the company remains optimistic about the strategic alliance, which will advance its combined portfolio of clear aligners and clinical workflow software.
However, the financial terms of the transaction were not disclosed. The deal is expected to be slightly dilutive to Henry Schein’s 2023 earnings per share, excluding the amortization expense relating to non-cash acquisition accounting adjustments for the inventory.
Industry Prospects
Per a Research report, the global dental service market size was valued at $433.2 billion in 2022 and is expected to witness a CAGR of 4.5% up to 2030.
Technological developments in dentistry are one of the key factors driving market growth.
Recent Developments
In March 2023, HSIC’s joint venture with Internet Brands, Henry Schein One, announced the integration of AI solutions into the cloud-based practice management software Dentrix Ascend. The latest development solidifies the company’s commitment to helping dental practices leverage the benefits of AI. The upgrade in the cloud-based solution expands the company’s Technology and Value-added Services business.
In the same month, Henry Schein also announced that it would showcase its comprehensive solutions and provide its perspective on the future of dentistry at the 2023 International Dental Show in Cologne, Germany. The exhibit will feature HSIC’s expansive portfolio of products and healthcare solutions designed to help oral health professionals enhance their practice efficiency and patient care.
Price Performance
In the past six months, shares of the company have increased 27.6% compared with the industry’s rise of 20.7%.
Zacks Rank and Other Key Picks
Henry Schein currently sports a Zacks Rank #1 (Strong Buy).
Lantheus’ stock has risen 47.7% in the past year. Earnings estimates for Lantheus have remained constant at $4.79 per share for 2023 and at $5.32 for 2024 in the past 30 days.
LNTH’s earnings beat estimates in all the last four quarters, delivering an average surprise of 50%. In the last reported quarter, it reported an earnings surprise of 42.71%.
Estimates for Avanos Medical in 2023 have remained constant at $1.68 per share in the past 30 days. Shares of the company have declined 4.3% in the past year compared with the industry’s fall of 13.9%.
Avanos Medical’s earnings beat estimates in all the trailing four quarters, the average surprise being 11.01%. In the last reported quarter, AVNS delivered an earnings surprise of 25%.
Insulet’s stock has increased 24.2% in the past year. The company has an estimated earnings growth rate of 56.59% for the next year.
Insulet’s earnings beat estimates in three of the trailing four quarters and missed the same in one, the average surprise being 59.81%. In the last reported quarter, PODD delivered an earnings surprise of 129.17%.
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Henry Schein (HSIC) Acquires Majority Stake in Biotech Dental
Henry Schein (HSIC - Free Report) recently acquired a majority stake in Biotech Dental, one of the largest providers of end-to-end dental solutions. The collaboration aims to create a digital workflow that will enable both companies’ customers to increase case acceptance and improve clinical outcomes for practitioners.
The planned strategic partnership is likely to strengthen Henry Schein’s portfolio of digital dental solutions and the rapidly-growing implant and clear aligner segment.
Significance
Biotech Dental’s expansive offering includes Nemotec, a comprehensive and integrated suite of planning and diagnostic software. By using the open architecture that connects disparate medical devices to create a digital view of the patient, the software assures higher diagnostic accuracy and an improved patient experience.
Image Source: Zacks Investment Research
The company recently launched its open and secure software platform, LaGalaxy, where both clinical and administrative tasks can be performed. Dentists and dental laboratories can benefit from end-to-end integrated digital solutions that help improve case outcomes while speeding treatment time, shortening case completion and lowering the costs of implants, orthodontic, and prosthetic treatments.
Additionally, Biotech Dental is one of the fastest-growing manufacturers in France of custom abutments and implants under the Kontact brand and clear aligners under the Smilers brand.
The integration of Henry Schein One’s practice management software solutions with Biotech Dental’s software will help customers streamline their clinical and administrative workflow for the ultimate benefit of patients. Per a representative at Henry Schein, the company remains optimistic about the strategic alliance, which will advance its combined portfolio of clear aligners and clinical workflow software.
However, the financial terms of the transaction were not disclosed. The deal is expected to be slightly dilutive to Henry Schein’s 2023 earnings per share, excluding the amortization expense relating to non-cash acquisition accounting adjustments for the inventory.
Industry Prospects
Per a Research report, the global dental service market size was valued at $433.2 billion in 2022 and is expected to witness a CAGR of 4.5% up to 2030.
Technological developments in dentistry are one of the key factors driving market growth.
Recent Developments
In March 2023, HSIC’s joint venture with Internet Brands, Henry Schein One, announced the integration of AI solutions into the cloud-based practice management software Dentrix Ascend. The latest development solidifies the company’s commitment to helping dental practices leverage the benefits of AI. The upgrade in the cloud-based solution expands the company’s Technology and Value-added Services business.
In the same month, Henry Schein also announced that it would showcase its comprehensive solutions and provide its perspective on the future of dentistry at the 2023 International Dental Show in Cologne, Germany. The exhibit will feature HSIC’s expansive portfolio of products and healthcare solutions designed to help oral health professionals enhance their practice efficiency and patient care.
Price Performance
In the past six months, shares of the company have increased 27.6% compared with the industry’s rise of 20.7%.
Zacks Rank and Other Key Picks
Henry Schein currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the overall healthcare sector are Lantheus (LNTH - Free Report) , Avanos Medical (AVNS - Free Report) and Insulet (PODD - Free Report) . Lantheus sports a Zacks Rank #1, while Avanos Medical and Insulet each carry a Zack Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Lantheus’ stock has risen 47.7% in the past year. Earnings estimates for Lantheus have remained constant at $4.79 per share for 2023 and at $5.32 for 2024 in the past 30 days.
LNTH’s earnings beat estimates in all the last four quarters, delivering an average surprise of 50%. In the last reported quarter, it reported an earnings surprise of 42.71%.
Estimates for Avanos Medical in 2023 have remained constant at $1.68 per share in the past 30 days. Shares of the company have declined 4.3% in the past year compared with the industry’s fall of 13.9%.
Avanos Medical’s earnings beat estimates in all the trailing four quarters, the average surprise being 11.01%. In the last reported quarter, AVNS delivered an earnings surprise of 25%.
Insulet’s stock has increased 24.2% in the past year. The company has an estimated earnings growth rate of 56.59% for the next year.
Insulet’s earnings beat estimates in three of the trailing four quarters and missed the same in one, the average surprise being 59.81%. In the last reported quarter, PODD delivered an earnings surprise of 129.17%.