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HENRY SCHEIN, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
(in thousands, except per share data)
80
Note 9 – Business Acquisitions, Divestiture and Other Transaction
Acquisitions
The operating results of all acquisitions are reflected in our financial statements from their respective
acquisition dates.
We completed certain acquisitions during the year ended December 28, 2013, which were immaterial to our
financial statements individually and in the aggregate and resulted in the recording of approximately $14.7 million
of initial goodwill through preliminary purchase price allocations. Total acquisition transaction costs incurred in
the year ended December 28, 2013 were immaterial to our financial results.
We completed certain acquisitions during the year ended December 29, 2012, which were immaterial to our
financial statements individually and in the aggregate and resulted in the recording of approximately $128.0 million
of initial goodwill through preliminary purchase price allocations.
On December 31, 2010, we acquired 100% of the outstanding shares of Provet Holdings Limited (ASX: PVT),
an Australasian distributor of veterinary products with sales in its 2010 fiscal year of approximately $278 million,
for approximately $91 million, in a cash-for-stock exchange. As a result of the acquisition, we recorded $27.0
million of goodwill.
In addition to the Provet Holdings Limited acquisition, we completed other acquisitions during the year ended
December 31, 2011, the operating results of which are reflected in our financial statements from their respective
acquisition dates. These other acquisitions individually and in the aggregate had an immaterial impact on our
reported operating results and resulted in the recording of approximately $38.8 million of initial goodwill through
preliminary purchase price allocations.
Subsequent Acquisitions
On December 30, 2013, we completed the acquisition of an approximately 60% equity investment in
BioHorizons, Inc., a U.S.-based manufacturer of advanced dental implants with annual revenues of approximately
$115 million. Prior to completion of the acquisition, we funded BioHorizons, Inc. $145 million, which is recorded
as a long-term loan included in Investments and Other within our consolidated balance sheet at December 28, 2013.
This long-term loan was subsequently recorded as an intercompany loan upon completion of the acquisition and
will be eliminated from our consolidated balance sheet in future reporting periods.
On January 6, 2014, we announced that we will acquire 100% ownership of five businesses in three European
countries from Arseus NV. The businesses combine for annual sales of approximately $97 million and include a
dental practice management software company in France and distributors of dental products in France, the
Netherlands and Belgium. This transaction was completed during the first quarter of 2014.