Henry Schein, Inc. has announced the acquisition of Veterinary Instrumentation, the supplier of surgical instruments and implants to veterinary surgeons in the United Kingdom.
Stanley M. Bergman, Chairman and Chief Executive Officer of Henry Schein said: "We are delighted to welcome this highly regarded company to the Henry Schein family, and very pleased that founder John Lapish and Managing Director Steve Fletcher will continue to drive the business forward.
"The success of Veterinary Instrumentation closely parallels the cornerstones of Henry Schein, including a deep understanding of customer needs, innovative solutions, superior product quality and customer service, and a trusted advisory relationship with our customers. Reinforcing our existing animal health business in the U.K., we look forward to strengthening our relationship with veterinary customers in this region, and bringing the Veterinary Instrumentation product portfolio of high-quality surgical specialties to a growing number of veterinarians across Europe, the United States and Australasia."
Veterinary Instrumentation was founded by John Lapish in 1986 in Sheffield, England, where the business and distribution operations are currently conducted from a single facility. Working as a small animal orthopaedic surgeon in the late 1970s, Mr. Lapish began designing and developing a range of instruments specifically for veterinary surgery, initially for his own use. As requests for these products increased, the market need became clear and Veterinary Instrumentation was formed, in particular to meet the needs of orthopaedic surgeons focused on small animals.
Mr Lapish said: "We look forward to contributing to the continued growth and success of a leading supplier of companion animal health products and services in the United Kingdom and to becoming part of a global leader in the distribution of health care products and services.
"The expertise that we bring in the area of veterinary surgical instruments will complement Henry Schein's broad offering, and our customers will benefit greatly from the global resources of a company that has quickly become an animal health care product and service leader on three continents."
With approximately 60 percent of sales in the U.K., and the balance split fairly evenly between Europe and the rest of the world, Veterinary Instrumentation has 20 employees, including a team of eight Veterinary Technicians who advise customers on the most appropriate procedures and instrumentation.
Veterinary Instrumentation sales for the 12 months ended September 30, 2011 were approximately £6.7 million ($10.8 million). Financial terms of the transaction were not disclosed.