SmartPak acquisition helps Henry Schein grow its animal health sales

Henry Schein ($HSIC), which provides healthcare products and services to office-based animal health, dental and medical practitioners, saw significant growth in animal health sales in its second quarter.

The Melville, NY-based company reported $2.6 billion in net sales for the quarter, an increase of 9.3% compared with the same period last year, with more than half of that coming from its dental clients; but its animal health sales hit $754.5 million in revenue, up 13.2% compared with the same period last year. International animal health sales, where the company saw 2.5% growth related to foreign currency exchange, hit a company record. The company said it gained market share in animal health.

The company attributes these strong earnings to its SmartPak product, equine health supplements that are custom-made for daily doses. "We also significantly strengthened our position in the U.S. equine-products market with the acquisition of a majority ownership position in SmartPak, which was completed early in the third quarter," Henry Schein CEO Stanley Bergman said in a statement.

The majority of the company's revenues come from its dental category, with sales of $1.4 billion, up 8.6%. Medical sales pulled in $403.3 million--an increase of 4% compared to the same period last year. Technology and value-added services sales netted $89.1 million and increased by 14.2%.

- here's the earnings report

Suggested Articles

Payers are now holding up Spark's $850,000 gene therapy as an example of how innovative drug developers can help payers afford pricey new treatments.

Bayer’s pharma products have been growing lickety-split, and its 2016 numbers show just how—and how much. But with the big Monsanto merger top of mind at Bayer…

After two years of implementing an across-the-board efficiency plan, fine-tuning its product portfolio and getting manufacturing up to speed on Apoquel, animal…