Expands Market Share in Pacific Northwest
ST. PAUL, Minn., June 28 /PRNewswire/ -- Patterson Dental Company
(Nasdaq: PDCO) today announced it has acquired Barr Dental Supply, Inc., a
full-service dental products distributor with 1998 sales of $3.4 million. The
acquisition increases Patterson's geographic coverage to include southern
Oregon, and continues the company's use of strategic acquisitions to expand
operations.
Terms of the transaction were not disclosed.
Based in Medford, Ore., Barr Dental, a 21-year-old dental supply
company with more than 300 accounts, increases Patterson's penetration in the
Pacific Northwest. As part of a national organization, Barr Dental Supply's
customers should benefit from Patterson's advanced systems, larger product
offering, broad distribution network, innovative marketing programs and
greater purchasing power.
"We're happy to add Barr Dental to the Patterson organization," said Peter
Frechette, president and chief executive officer. "This acquisition is in
keeping with our strategy to expand our customer base by capitalizing on the
consolidating dental supply industry. We are building market share and
increasing our sales network through acquisitions of smaller competitors."
Patterson Dental Company is one of the largest distributors of dental
products in North America. The company supplies more than 82,500 products to
dentists, dental laboratories, institutions, physicians and other healthcare
providers. These products include x-ray film, impression and restorative
materials, hand instruments, sterilization products, front office forms and
stationery as well as capital equipment. Patterson markets its products and
services through approximately 986 sales representatives and equipment
specialists in the United States and Canada.
This release contains forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are
information of a non-historical nature and are subject to risks and
uncertainties which are beyond the company's ability to control. The company
cautions shareholders and prospective investors that the following factors,
among others, may cause actual results to differ materially from those
indicated by the forward-looking statements: competition within the dental
supply industry; changes in the economics of dentistry, including reduced
growth in expenditures by private dental insurance plans and the effects of
healthcare reform, which may affect future per capita expenditures for dental
services and the ability of dentists to invest in or obtain reimbursement
for the use of high technology products; the ability of the company to
maintain satisfactory relationships with its salesforce; the effects of
economic conditions; unforeseen operating risks; risks associated with the
dependence on manufacturers of the company's products; the ability of the
company and its suppliers of products and services to upgrade their
computer systems to address year 2000 issues; and the availability of capital
to finance planned growth. Forward-looking statements are qualified in their
entirety by cautionary language set forth in the company's Form 10-K report
filed July 16, 1998, and other documents filed with the Securities and
Exchange Commission.
For further information on Patterson Dental free of charge via fax, dial
1-800-PRO-INFO and enter the number 207.
SOURCE Patterson Dental Company
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CONTACT: Ronald Ezerski, Executive Vice President & CFO of Patterson Dental Company, 651-686-1600; or General Info., Leslie Hunziker, or Analyst Inquiries, Suzy Olson, both of The Financial Relations Board, 312-266-7800
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