Schein acquires majority interest in LPS

Henry Schein has acquired a majority ownership interest in Large Practice Sales LLC (LPS), which advises independent dental practices on sales or partnerships.

Financial terms of the deal were not disclosed, but Schein expects the transaction to be neutral to 2023 non-generally accepted accounting principles diluted earnings per share and accretive thereafter. LPS, whose headquarters are in Irving, TX,  had 2022 net sales of approximately $40 million.

LPS co-founders Chip Fichtner and Matt Wilkins will remain as head of development and head of operations and transaction execution, respectively. Fichtner and Wilkins will hold a minority ownership interest in the business, along with other members of LPS’ management team.