Henry Schein expands footprint in Japan with J. Morita stake

Henry Schein (NSDQ:HSIC) said it’s expanding its footprint in the Japanese dental market by buying a 50% stake in a subsidiary of J. Morita Corp. for an undisclosed amount.

Melville, N.Y.-based Schein said the deal is for half of One Piece Corp., which has 8 dental dealerships in Japan and booked sales of roughly $125 million last year. Schein said it 1st entered Japan with the October 2014 acquisition of Iwase Dental Supply; former managing director Kenichiro “Ken” Iwase is due to lead the expanded Schein operation in there, the company said.

“Japan represents an exciting strategic opportunity for Henry Schein,” chairman & CEO Stanley Bergman said in prepared remarks. “While Iwase Dental serves customers in the greater Tokyo area, the One Piece dealers are located throughout the country, giving Henry Schein Japan a wide presence in the marketplace. We look forward to other Japanese dealers joining our partnership in the near future, as well as representing the products of all our dental suppliers, with the goal of providing the highest quality in service to all Japanese dentists.

“We are especially excited to partner with J. Morita, a company we have known for many years and whom we hold in the highest regard,” Bergman said. “We look forward to working together to bring new services and solutions to the Japanese dental community, and we welcome our new colleagues at One Piece to Team Schein.”

“We are pleased to be joining with such highly respected partners as Morita and One Piece,” Iwase said. “Morita and One Piece share with Henry Schein a heritage of service to dental practitioners, and we look forward to working together to bring the best products and services to the Japanese dental community.”

“We are very pleased to be working with Henry Schein, a global leader in oral health and a company whose values and business approach we share,” added J. Morita president & CEO Haruo Morita. “Morita is dedicated to offering the best possible experience to patients and dental practitioners. This new partnership with Henry Schein will expand our mutual efforts to advance the dental profession in Japan for the benefit of the patient.”

In February, Schein bought a majority stake in Brazilian distributor Dental Cremer.

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