Henry Schein acquires majority interest in Cliniclands, an innovative nordic distributor
Livingstone is pleased to announce it has advised Cliniclands, a Nordic e-commerce platform for professional dental products, on its sale to Henry Schein Inc. Livingstone was exclusive financial advisor to Cliniclands; based on Cliniclands’ solid market position and scalable business model, Livingstone managed a competitive international sales process aimed at leading distributors of healthcare products.
Henry Schein, the world’s largest provider of healthcare solutions for dental practitioners, ventures onto the Nordic market with the acquisition of an equity stake in Cliniclands. Following the transaction, Henry Schein has operations in 32 countries around the world. Cliniclands founders Falk Andersson, Niklas Schori and Daniel Skoglund will continue to lead the business and own the remaining equity stake in Cliniclands, with an option to sell the remaining shares in three years.
“From the very first meeting with Henrik and Zakaria at Livingstone, we’ve been in close contact and their support has been excellent in every step of the process. The access to their international colleagues and network of buyers was a deciding factor for the successful outcome of the transaction,” says Falk Andersson, CEO and co-founder of Cliniclands.
Cliniclands was founded just six years ago by Falk Andersson, Niklas Schori and Daniel Skoglund, all previously part of Biomet 3i. The team identified a need to digitize the sales of dental products in the Nordics, and aimed to create an e-commerce platform that would efficiently bring international suppliers and Nordic dentists together. Today, Cliniclands offers more than 700 brands through an efficient drop-shipping model, where the client’s order is matched with international partners through an API. The company has ten employees and had an annual turnover of close to SEK 100 million per 31 March 2019.
Henry Schein is a worldwide distributor of medical services and supplies with sales of USD 9.4 billion in 2018. The company is listed on Nasdaq and is a Fortune 500 Company as well as a member of the S&P 500 and the Nasdaq 100 indexes. Henry Schein’s 19,000 worldwide employees serve some 1 million clients in total.
“With Henry Schein as new majority owner, Cliniclands’ has optimal conditions to grow into new product categories, client groups and markets. The combination of Cliniclands’ innovative and agile organisation and Henry Schein’s size and experience, will make the company a strong competitor to the major Nordic players,” says Henrik Widlund, Partner at Livingstone.
Wigge & Partners was legal advisor in the sales process. ER redovisning i Lund advised on selected accounting items.
Read about additional healthcare transactions here
