Henry Schein Inc. acquired a majority stake in the Sweden-based Cliniclands, a private distributor of dental products.
Cliniclands serves dental practices throughout Sweden, Denmark and Norway. It generated sales of about $9.5 million for the 12 months ended March 31.
The acquisition will expand Henry Shein's operational presence to 32 countries. The Melville, N.Y.-based healthcare distributor did not disclose the financial terms of the deal.
Founders of Cliniclands — CEO Falk Andersson, COO Niklas Schori and Daniel Skoglund — will continue to lead the business and own the remaining stake in the company.
Henry Shein, which develops solutions for use of healthcare professionals in dental laboratories, government and institutional clinics, will have options to acquire the remaining stake in Cliniclands after the next three and five years.