ST. PAUL, Minn., Oct. 25 /PRNewswire/ -- Patterson Dental Company
(Nasdaq: PDCO) today announced it has acquired the assets of Kentucky Dental
Supply Company, Inc., a full-service dental products distributor with 1998
sales of $4.4 million. The acquisition provides Patterson an increased
presence in Lexington, Kentucky, which strengthens its market share in the
Ohio River Valley. Patterson has existing operations in Cincinnati, Ohio, and
Louisville, Kentucky. Terms of the transaction were not disclosed.
"Kentucky Dental is a strategic acquisition that allows us to expand our
penetration in a growing region and leverage our existing capabilities to
increase sales and productivity," said Peter Frechette, president and chief
executive officer. "We are happy to have the Kentucky Dental sales team on
board, and are looking forward to working with them to enhance and expand
operations."
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 more than 1,000 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 that 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 Annual Report on Form 10-K
filed July 19, 1999, 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: R. Stephen Armstrong, Executive Vice President & CFO of Patterson Dental, 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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