Description
Patterson Companies is a medical supplies conglomerate primarily in the business of veterinary and dental products (ranging from xray equipment to consumable products, dental consumables make up the biggest part of the dental industry). Traditionally a dental company, it diversified its business at the turn of the millennium when it acquired 55-year-old company, JA Webster Inc, a distributor of veterinary products. That business segment (now known as Patterson Veterinary) currently distributes equipment (diagnostic and surgical) and medicine (anaesthetics, vaccines). The company operates directly in only the US and Canada (in Canada through subsidiary Patterson Dental Canada).
In 2008 it was noted as having one of the lowest debt ratios among companies in the health care sector. Patterson was also a member of the Nasdaq-100 until December 10, 2010 when it and six other companies were replaced. The Nasdaq-100 is composed of the 100 largest non financial stocks traded on the Nasdaq.
On June 17, 2010 Patterson Medical purchased the rehabilitation part of Ireland-based DCC Healthcare (Days Healthcare, Physiomed and Ausmedic) in a move that increased Patterson Medical's revenue by 16.43% (US$70 million, fiscal year ended April 24, 2010). The new companies were added to its Homecraft Rolyan unit in the UK.
History
The company traces its roots through division Patterson Dental Supply back to one established in 1878 named Patterson Dental Company. It remained focused solely on the dental products market until the 21st century when it branched out into the veterinary supplies market through 2 large acquisitions, JA Webster in 2001 (92.5 million dollars) and ProVet in 2004. For about 130 years it dealt only in dental supplies. It began selling rehabilitation supplies in 2004 after acquiring Ability One Products Corporation followed by Medco the same year.
It went public on the Nasdaq in 1992 with an IPO of around 480 million dollars.
Key dates and events
- 1987 - Acquired D.L. Saslow Co another major distributor
- 1993 - Started doing business outside of the US by purchasing Healthco Canada.
- 1997 - purchased software developer Eaglesoft Inc a company founded by Scott R. Kabbes who 6 years later was made president of Patterson Dental Company. It later became Patterson Technology Center
- 2004 - CAESY Patient Education Systems was acquired. It is used by the company to provide information relating to treatment procedures for patients. As a subsidiary the company retained its name.
- July 2004 - was renamed Patterson Companies Inc because by then it was not only in the business of dental equipment distribution, it also made software, served the veterinary market and supplied products for general medical use. Until that time it was named Patterson Dental Company.
- Dec 2008 - Patterson acquires Dolphin Imaging and Management Solutions to enhance their software portfolio to include Dolphin's dental specialty treatment planning and practice management software.
