Patterson Dental acquires giant rehab distributor
August 25, 2003
ST. PAUL, Minn. - Patterson Dental Company agreed last week to acquire AbilityOne Products, the world's leading distributor of rehabilitative supplies and non-wheelchair assistive patient products to the physical and occupational therapy markets.
The acquisition is valued at approximately $575 million and expected to close during Patterson's second quarter ending October 25, 2003, subject to regulatory approvals and other customary terms and conditions. AbilityOne will be operated as a wholly-owned subsidiary of Patterson.
Patterson Dental Company is a distributor serving the North American dental supply and veterinarian supply markets. The AbilityOne deal adds a new line of specialty healthcare products to Patterson's established distribution and sales network.
With forecasted sales of approximately $220 million for calendar year 2003, Chicago-based AbilityOne delivers the industry's largest and most comprehensive range of distributed and self-manufactured rehabilitation products to a global customer base serving acute care hospitals, nursing homes, rehabilitation clinics, dealers and schools, according to a Patterson.
AbilityOne offers more than 15,000 rehabilitation and assistive products from more than 1,500 suppliers.
AbilityOne generates approximately 80% of its revenues in North America. The company does not engage in third-party billing and collecting.
AbilityOne is owned by One Equity Partners, the private equity subsidiary of Bank One Corporation; Beecken Petty & Company, a leading venture capital firm focused in the healthcare industry; Smith & Nephew plc, the publicly traded U.K. medical device company; and management.