Henry Schein, Inc., the world’s largest provider of healthcare products and solutions to in-office medical and dental practitioners, today announced the acquisition of controlling interest in Large Practice Sales LLC (LPS), a leading advisor for their independent dental practices. sell or partner with larger general practitioners and dental professionals.Headquartered in Irving, Texas, LPS has 2022 net sales of approximately $40 million. Henry Schein expects LPS trading to be neutral to non-GAAP diluted earnings per share in 2023 and gradually increase thereafter. Financial terms were not disclosed.
Joining LPS’ Henry Schein are co-founders Chip Fichtner, who will remain head of development, and Matt Wilkins, who will continue in his role as head of operations and transaction execution. Mr. Fichtner and Mr. Wilkins will hold a minority stake in the business, along with other key members of the LPS management team.
“LPS is complementary to our existing Dental Practice Transition business and commitment to provide value-added services to our customers,”
“For many years, we have had a successful practice transitions group dedicated to assisting smaller and mid-sized dental practices. By combining our expertise, we can effectively meet the needs of a broader range of dental professionals and ensure their success throughout the transition process.”
Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein, Inc.
“Henry Schein is the premier brand within the U.S. dental profession, with widespread recognition among general practice dentists and specialty practitioners alike. LPS has enjoyed rapid growth since our inception seven years ago, and this combination with Henry Schein is the logical next step to accelerate our reach and enhance our mutual success,”
Head of Operations and Transaction Execution. Mr. Fichtner.
“We pride ourselves on bringing creativity to the table in structuring win-win solutions, offering dentists the flexibility to continue leading their practice, retain an equity stake in their business, and maintain their practice’s brand, culture, and autonomy,”
“We typically represent dental professionals eager for a strategic partnership to help grow and scale their practices. This shared commitment to customer success tightly aligns LPS and Henry Schein.”
Head of Development, and Matt Wilkins.