Dental Tribune South Africa Edition

DENTAL TRIBUNE The World’s Dental Newspaper · South African Edition December 2013 - Volume 1 no. 4 www.dental-tribune.com Page 1 HENRY SCHEIN INVESTS IN SOUTH AFRICA Page 4 NOMADS DAY 2013 Page 5 UNIVERSITY NEWS Innovative Solutions for Dental Restoratives Chris Jenkins On the 21st of October 2013 Louis Ichikowitz, co-founder of The Dental Warehouse, announced that the world’s largest provider of health-care products, Henry Schein, had acquired a minority ownership of the company. In addition, the Litha Healthcare Group which is listed on the Johannesburg Stock Exchange has also acquired a minority interest in The Dental Warehouse as part of a strategic partnership with Henry Schein. Due diligence Henry Schein and the Dental Warehouse began a good and successful business relationship prior to Henry Schein going public, with discussions to start working together. “There reaches a stage where you have got to move on and things have got to move on.” Said Louis Ichikowitz. However, with Henry Schein going public, these discussions were placed on hold restarting about two and a half years ago to partner up. With Henry Schein being a Fortune 500 company the process for a partnership would be a lengthy and slow process, yet, Louis and Bernice Ichikowitz of The Dental Warehouse were prepared to exercise patience in order to take the next step in Henry Schein acquires a minority ownership in The Dental Warehouse growing their business. After following a course of due diligence to ensure compliance in all areas, The Dental Warehouse officially handed over the management of the company to Henry Schein during the week following the 21st of October 2013. Bernice Ichikowitz, co-founder of The Dental Warehouse and one of the main driving forces behind the success of The Dental Warehouse was unable to attend to the announcement due to a severe illness. However, she did send her loyal staff a message of gratitude, “Thank them for the role that they played in getting us to where we are at the moment. Thank them for the way that they as human beings did this and the way they did this collectively as a team.” Read on her behalf by Louis Ichikowitz. “We are delighted to partner with Louis and Bernice Ichikowitz and the entire team at Dental Warehouse, an organization that has enjoyed a 40-year history of serving the dental community in South Africa," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "This is a strategic transaction for Henry Schein that continues to expand our geographic footprint and further strengthen relationships with our valued supplier partners.” (continued on Page 2)