April 3, 2018 / 12:18 PM / 3 months ago

BRIEF-Henry Schein And Internet Brands Enters Joint Venture

April 3 (Reuters) - Henry Schein Inc:

* HENRY SCHEIN AND INTERNET BRANDS FORM JOINT VENTURE TO DELIVER INTEGRATED TECHNOLOGY TO ENHANCE DENTAL PRACTICE MANAGEMENT

* ‍JOINT VENTURE EXPECTS TO REALIZE BETWEEN $20 MILLION AND $30 MILLION IN ANNUAL SYNERGIES BY END OF YEAR THREE​

* EXPECTS TRANSACTION TO BE NEUTRAL TO BALANCE OF ITS 2018 EARNINGS PER SHARE

* CO WILL HAVE MAJORITY OWNERSHIP OF JOINT VENTURE AND INTERNET BRANDS WILL OWN A MINORITY INTEREST

* ‍FINANCIAL TERMS OF AGREEMENT WERE NOT DISCLOSED​

* EXPECTS TRANSACTION TO BE NEUTRAL TO BALANCE OF ITS 2018 EARNINGS PER SHARE

* TIME TRANSFER TAXES OF ABOUT $0.03 PER SHARE, RELATED TO COMPLETING TRANSACTION

* TRANSACTION EXPECTED TO BE ACCRETIVE AFTER 2018

* HENRY SCHEIN ONE CHIEF EXECUTIVE OFFICER WILL BE JAMES HARDING

* REMAINDER OF HENRY SCHEIN ONE’S MANAGEMENT TEAM WILL BE ANNOUNCED AT A LATER DATE

* JOINT VENTURE TO BE NAMED HENRY SCHEIN ONE Source text for Eikon: Further company coverage:

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