Summary

Other Scenarios:

Buyer: Arrow International, Inc. (ARRO) Last Price: 45.48 Market Cap.: 2.06B
Target: Sirona Dental Systems, Inc. (SIRO) Last Price: 33.35 Market Cap.: 1.83B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
Healthcare 933
Biopharmaceuticals   381
Medical Devices 253

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 86)
  • FlexTip Plus/TheraCath Epidural Kit
  • Epidural Needle Series
  • 7cc Luer Slip Loss of Resistance Syringe
  • Single Shot Epidural Anesthesia Kit
Target (Total: 42)
  • SIDEXIS-Intraoral sensors
  • XIOS Intraoral Sensor System
  • Schick Technologies USBCam/USBCam2
  • Orthophos System Series
Buyer
  • ChloraPrep
Target

n/a

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 3)
  • Kilroy Realty Corporation (KRC)
  • QAD Inc. (QADI)
  • Enturia, Inc.
Target (Total: 0)

n/a
Buyer (Total: 0)

n/a
Target (Total: 2)
  • Patterson Companies, Inc. (PDCO)
  • Henry Schein, Inc. (HSIC)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 4,000 2,280
Revenue Per Employee 130,854.5 313,034.8
Total Revenue 130.5 177.9
Total Expenses 108.4 161.5
Other Revenue 0.0 0.0
Cost of Revenue 64.4 95.2
SG&A Expense 35.8 53.6
Research & Development 7.0 12.8
Other Operating Expense 0.0 -0.1
Operating Income 22.1 16.4
Unusual Income 1.2 0.0
LT Debt to Capital 0 47
Fwd P/E n/a 21.85
Fwd P/Rev n/a 2.51
Book Value 556.3 609.1
Curr Portion of LTD/Cap Lease 1.0 23.0

Individual Company Summary

Focused

Buyer

Focused (): Healthcare > Medical Devices > Drug Delivery > Infusion Therapy > Vascular Access

Target

Focused (): Healthcare > Medical Devices > Dental > Diagnostic > Imaging

Business Description

Buyer

Arrow International, Inc. (Arrow) develops, manufactures and markets a range of clinically advanced, disposable catheters and related products for critical and cardiac care. The Company's critical care products are used principally for central vascular access in the administration of fluids, drugs and blood products, patient monitoring and diagnostic purposes. These products are used by anesthesiologists, critical care specialists, surgeons, cardiologists, nephrologists, emergency and trauma physicians, and other healthcare providers. Arrow's cardiac care products are used by interventional cardiologists, cardiac surgeons, interventional radiologists and electrophysiologists for purposes, such as the diagnosis and treatment of heart and vascular disease, and to provide short-term cardiac assist following cardiac surgery, serious heart attack or balloon angioplasty. In October 2007, Teleflex Incorporated completed the acquisition of Arrow.

Target

Sirona Dental Systems, Inc. (Sirona) is a manufacturer of dental equipment. Sirona focuses on developing systems and solutions for dentists globally. The Company provides a range of advanced products in each of the four primary areas: dental computer-aided design (CAD)/computer-aided manufacturing (CAM) Systems, imaging systems, treatment centers and instruments. Sirona distributes its products globally to dental practices, clinics and laboratories through an international network of distributors.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 50.38 46.14
Operating Margin % 17.71 4.92
Quick Ratio 2.01 1.17
Current Ratio 3.02 1.81
Coverage Ratio 0.05 -0.87
Total Assets 726.2 1,657.7
Return on Equity % 10.98 9.3
Return on Assets % 8.41 3.42
Cash+ ST Inv. Per Share 3.79 1.8
Total Debt 64.9 563.2
Total Debt to Equity % 11.67 92.47
Total Debt to Tangible Equity % 13.73 n/a
Debt to Asset % 8.94 33.97

Product Summary

Sector Buyer Target
Healthcare
Biopharmaceuticals  
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  
Medical Devices
Anesthesiology
The Anesthesiology Subsector includes medical devices that deliver and monitor anesthetics.
  
Cardiology
The Cardiology Subsector includes medical devices that diagnose, monitor, and treat diseases affecting the heart and proximal blood vessels. Common devices include vital sign monitors, cardiac defibrillators, pacemakers, and other surgical equipment.
  
Clinical Diagnostics
The Clinical Diagnostics Subsector includes medical devices that analyze human body specimens within a medical setting. These devices, including equipment, biological and chemical reagents are primarily used for the diagnosis of diseases.
  
Dental
The Dental Subsector includes medical devices that diagnose and treat dental disorders, as well as restore proper function and appearance of teeth and gums.
  
Drug Delivery
The Drug Delivery Subsector includes medical devices that facilitate the delivery of medications through different anatomical entryways, including blood vessels, skin, the mouth, and the lungs. Common devices in this sector include vascular access catheters, needles, implants, and inhalers.
  
General Surgery
The General Surgery Subsector includes medical devices that perform general, non-specialty surgeries; these devices are often general in scope and are used in procedures involving various parts of the body.
  
Medical Supplies
The Medical Supplies Subsector includes basic and consumable products that are widely used in healthcare settings.
  
Neonatology
The Neonatology Subsector includes medical devices that diagnose, monitor and treat diseases of newborns.
  
Oncology
The Oncology Subsector includes medical devices that detect and treat cancers.
  
Radiology
The Radiology Subsector includes medical devices that generate images of internal physiology.
  
Respiratory
The Respiratory Subsector includes medical devices that diagnose and treat respiratory diseases.
  
Urology
The Urology Subsector includes medical that diagnose and treat urinary tract and male reproductive disorders.
  
Vascular
The Vascular Subsector includes medical devices that diagnose and treat of conditions affecting the blood vessels.
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
Healthcare
Biopharmaceuticals  
Infectious Diseases  
Bacterial  
Antibacterial Agents  
Broad Spectrum  
Antiseptic Agents
Therapeutics that prevent bacterial infection by inhibiting the growth and development of microorganisms without necessarily killing them.

Buyer Products:

  • ChloraPrep
  
Surgery  
General  
Bacterial Infections  
Antiseptic Agents
Therapeutics that are used to prevent the spread of microorganism in pre-surgical skin infections due to bacteria.

Buyer Products:

  • ChloraPrep
  
Medical Devices
Anesthesiology  
Surgical  
Procedure/Region Specific  
Delivery Systems  
Epidural
Devices used to inject anesthetic into the epidural space to numb the legs and abdomen, which include catheters, needles, syrninges and other prepackaged kits.

Buyer Products:

  • FlexTip Plus/TheraCath Epidural Kit
  • Epidural Needle Series
  • 7cc Luer Slip Loss of Resistance Syringe
  • Single Shot Epidural Anesthesia Kit
  
Nerve Block
Devices used to assist in the delivery of nerve block anesthetic, which include catheters, needles and other prepackaged kits.

Buyer Products:

  • StimuCath
  • StimuQuick
  
Cardiology  
Diagnostic  
Imaging  
X-Ray  
Angiography  
Accessories
Various instruments used to assist in angiography procedures, including transducers, catheters, control syringes, waste systems, contrast management systems, fluid administration sets, and other related items.

Buyer Products:

  • Balloon/Double-Lumen Balloon Wedge-Pressure Catheters
  • Berman Angiographic/Reverse Berman Balloon Catheter Series
  
Monitoring  
Accessories  
Blood Pressure  
Invasive Blood Pressure Cuffs
Monitoring accessories that require contact with the blood and blood vessels to obtain an accurate blood pressure reading, such as domes and transducers.

Buyer Products:

  • Wedge Pressure Products
  • VitaCuff Products
  
Output Sensors
Instruments that measure various cardiac outputs, such as blood velocity and pressure. Examples of sensors include bioimpedence, hemodynamic and thermodilution catheters.

Buyer Products:

  • Balloon/HANDS OFF Thermodilution Catheter Series
  • HemoSonic 100 Probe
  
Monitors  
Cardiac Output
Instrument that measures the blood flow pumped out of the heart.

Buyer Products:

  • HemoSonic 100
  • Cardiac Output Computer
  
Surgical  
General Procedure  
Accessories  
Access  
Arterial
Instruments used to gain access to the heart's arteries, including aortic pouches, introducer needles, introducers and vessel dilators.

Buyer Products:

  • Arrow-Fischell EVAN Vascular Access
  • Super Arrow-Flex Sheath Introducer Series
  • Percutaneous Sheath Introducer
  • Spring-Wire Guide Introducer
  
Guidewires
A small wire-like device that is threaded through a catheter to the site of interest for delivery of another apparatus like a stent.

Buyer Products:

  • Radial Artery Catheterization Kit
  
Procedure/Region Specific  
Arrhythmia  
Electrophysiology  
Chamber Mapping Systems  
Catheters
Long slender wire-like devices with multiple electrodes on the end that gets inserted into the heart chamber for electrophysiological studies and chamber mapping.

Buyer Products:

  • QuadPolar Electrode Catheter Series
  • Decapolar/Hexapolar Electrode Catheters Series
  
Pacing Catheters
Catheter that is capable of regulating the electrical stimulation rhythm of the heart.

Buyer Products:

  • Multi-Polar Electrode Catheter Series
  • HANDS-OFF Balloon Pacing Catheter
  • Bipolar Pacing Catheter
  • Balloon Pacing Catheter Series
  • QuadPolar Electrode Catheter Series
  
Cardiac Output Assist  
Intra-Aortic Balloon Pump (IABP)  
Accessories
Various instruments used to assist intra aortic balloon pump surgery, such as catheter kits and introducers.

Buyer Products:

  • Ultra 8
  • Hemostasis Sheath Introducer
  • RediGaurd Series
  • NarrowFlex Series
  • UltraFlex Flexible Series
  • Universal Series
  • LightWAVE Series
  
Systems
Complete set of instruments used to perform intra aortic balloon pump surgery.

Buyer Products:

  • KAAT II Plus
  • AutoCAT 2 Series
  • ACAT 1 Plus
  • TransAct
  
Ventricular Assist Device (VAD)  
Left Ventricular (LVAS)  
Implantable
A device that can be encased in the body cavity and provides the pumping force for the left ventricle of the heart.

Buyer Products:

  • CorAide
  
Revascularization  
Atherectomy  
Rotational Systems
Complete set of instruments used to perform catheter based rotational blade atherectomy.

Buyer Products:

  • Arrow-Fischell Pullback Atherectomy Catheter
  
Clinical Diagnostics  
Specimen Collection  
Blood  
Arterial  
ABG Collection Kits
Collection devices used to collect arterial blood samples.

Buyer Products:

  • QuickFlash Kits
  • Arterial/Venous Catheterization Kits
  • Femoral Artery Catheterization Set
  
Body Fluids  
Paracentesis Kits
Kits used in the collection of paracentesis fluid.

Buyer Products:

  • Large Volume Abdominal
  • Peritoneal Lavage Kit
  
Thoracentesis Kits
Catheters/thin tubes used to collect samples of fluid in the thoracic fluid for diagnostic and therapeutic purposes

Buyer Products:

  • Arrow-Clarke Pleura-Seal Thoracentesis Kit
  
Dental  
Diagnostic  
Imaging  
X-Ray  
Accessories  
Digital  
Digital Sensors
Sensors which capture radiographic images and have the ability to convert to a digital format.

Target Products:

  • SIDEXIS-Intraoral sensors
  • XIOS Intraoral Sensor System
  • Schick Technologies USBCam/USBCam2
  
Systems  
Panoramic
X-ray system that rotates around the head to generate images of the teeth and jaw.

Target Products:

  • Orthophos System Series
  • CEREC CAD/CAM System Series
  • Schick Technologies CDR Wireless System
  • Schick Technologies CDRPan System
  • Schick Technologies CDRPanX/PanX-C System
  • inEos CAD/CAM System
  • Orthophos XG Series
  • Schick Technologies CDR System
  • inLab CAD/CAM System
  
Straight
X-ray system that generates a straight image of the teeth.

Target Products:

  • HELIODENT DS/HELIODENT Vario
  • GALILEOS
  
Physical Examination  
Visualization  
Intraoral Cameras
Small cameras placed inside the oral cavity to project an image onto a monitor in order to visulize the oral cavity.

Target Products:

  • SIVISION
  
Surgical  
Endodontic  
Drills
Drills used in endodontic treatment.

Target Products:

  • SIRONiTi/SIRONiTo Air+
  
General  
Instruments  
Electrical  
General Surgical Tools
Devices used to perform general dental surgical procedures, including drills, dryers, composite curing, motors/handpieces, inserts/attachments and other similar items.

Target Products:

  • SPRAYVIT
  • MOTOR EL 1/MOTOR SL/ISO
  • SIROTorque L
  • T1 CLASSIC / T1 LINE mini
  • SIROAIR L
  • Turbine T1/T2/T3 Series Air Driven High Speed Handpieces
  • SIROPure Lubrication Free Instruments
  • SIROEndo
  • T2 REVO
  • SIROLUX F Operating Light System
  • IMPLANT 20:/IMPLANT 80:1
  
Laser Systems
Lasers used during dental surgery.

Target Products:

  • SIROLaser
  
Ultrasonic Scalers  
Systems
Systems that use ultrasonic energy to remove plaque from teeth.

Target Products:

  • PerioScan
  • SIROSONIC/SIROSONIC L
  
Treatment  
Preventive Care  
Prophylactic Components
Devices used to clean the teeth or gums, including angles, pastes, cups, brushes and tips.

Target Products:

  • ProSmile Handy
  
Drug Delivery  
Infusion Therapy  
Accessories  
Needleless Fluid Administration/Extension Sets
Valve systems designed to work without needles to prevent patient injuries.

Buyer Products:

  • UserGard Needle-Free Injection Cap System
  
Delivery Systems  
Pumps  
Subcutaneous
Pump placed under the skin of the patient receiving infusion therapy.

Buyer Products:

  • Arrow Model 3000 Constant Flow Pump
  
Integrated/Comprehensive Systems
Complete infusion systems that include pumps, monitoring devices and other accessories.

Buyer Products:

  • Emergency Infusion Device- EID
  • RIC Rapid Infusion Catheter Exchange Set
  
Vascular Access  
Extended In Dwelling Catheters  
Central Venous Catheters (CVC)
Catheters designed to handle high volume flow.

Buyer Products:

  • Arrowgard Blue Series
  • HANDS OFF Central Venous Series
  • Maximal Barrier Precautions Tray
  
Introducers
Medical devices designed for introducing vascular access.

Buyer Products:

  • Arrow Simplicity Micro-Puncture Introducer Set
  • Raulerson Syringe
  
Kits
Kits containing necessary components for gaining vascular access, such as midline catheters, peripherally inserted central catheters, central venous catheters, and associated repair instruments.

Buyer Products:

  • Super Arrow-Flex
  • Peripherally Inserted Midline Catheter Kit Series
  • EID/Peripheral EID Catheter Kit
  • Arrow-Howes
  • Single-Lumen ARROWgard Blue
  • Multi-Lumen Pediatric Kit Series
  
Midline Catheters
Central venous catheter set designed for midline venous access.

Buyer Products:

  • Arrow Midline Catheter Series
  
Peripherally Inserted Central Catheters (PICC)
Central venous catheter set designed for peripheral venous access.

Buyer Products:

  • Arrow PICC Series
  
Peripheral Intravenous Catheters  
Infusion Sets
Complete infusion sets containing peripheral intravenous catheters.

Buyer Products:

  • TwinCath Two-Lumen Peripheral Catheter
  • Rapid Infusion Catheter (RIC)
  
Ported
Peripheral intravenous catheters that have ports for access and to attach other devices such as infusion pumps.

Buyer Products:

  • Blue FlexTip Catheter/Port Systems
  
Safety Catheters
Catheters designed to protect healthcare workers from accidental needle punctures.

Buyer Products:

  • StatLock Products
  
Subcutaneous Implants  
Accessories  
Port Access
Devices that permit port introduction allowing controlled vascular access.

Buyer Products:

  • A2Port With Introducer Kit
  
Ports
Implanted devices that allow controlled vascular access.

Buyer Products:

  • Blue FlexTip Catheter/Port Systems
  • A/A2-Port Series
  • Low Profile Port/B-Port
  
General Surgery  
Invasive  
Accessories  
Drainage
Medical instruments used to provide drainage in the surgical area, including access kits, catheters, evacuator kits and reservoirs.

Buyer Products:

  • Blue FlexTip Percutaneous Cavity Drainage Kits
  
Guidewires
Guidewires used to lead other medical devices into place during surgical procedures

Buyer Products:

  • Spring-Wire Guides
  
Instruments  
Manual Instruments
Medical devices used manually by surgeons to perform invasive general surgical procedures, such as scalpels, curettes, dissectors, elevators, forceps, osteotomes, retractors, bissectors and other similar items.

Buyer Products:

  • Catheter Clamps
  • I.V. Tubing Products
  
Procedure/Region Specific  
Cholecystectomy  
Cholangiography  
Needles
Needles used to assist in cholangiography.

Buyer Products:

  • Port Non-Coring/Corning/Port-Winged Needles
  • Introducer Needles
  
Minimally Invasive  
Procedure/Region Specific  
Cholecystectomy  
Cholangiography
Devices used to perform minimally invasive procedures involving the biliary system, including catheter kits and other endoscopic instruments.

Buyer Products:

  • Arrow-Karlan
  • Arrow Percutaneous
  • Laparoscopic Cholangiography Balloon Catheter
  
Medical Supplies  
Furnishings  
Bedroom and Bath  
Patient Care Accessories/Furniture
Furniture and accessories designed for hospital patients, such as beds, bed rails, linens, overbed tables, nurse call systems, carts, and other related items.

Target Products:

  • ProFeel+
  • Treatment Centers Ergonomics Products
  • Sirona by Kappler Dental Cabinetry
  • C2+/C3+/C4+/C5+/C8+
  • M1+
  
Safety and Sterilization  
Sterilization  
Accessories
Cleaning agents and ancillary products designed to sterilize medical products. Accessories include aerators, biological indicators, Bowie Dick test, chemical indicators, detergents, indicator tapes and other similar items.

Target Products:

  • SIRODEM
  
Systems
Cleaning systems that use chemicals, steam and other sanitatry methods to sterilize medical products and supplies.

Target Products:

  • DAC Universal/Professional
  • SIROCLAVE B
  
Tools/Supplies Protection
Devices used to prepare, store and handle surgical devices, which include covers, wraps, tray liners, pouches, cassettes and others.

Target Products:

  • NITRASEAL
  • SIROSEAL
  
Neonatology  
Surgical  
Accessories  
Drainage Catheters
Long slender wire-like tube device that gains access to internal compartments of a newborn and allows fluid to exit through it.

Buyer Products:

  • NeoCare
  
Treatment  
Feeding Tubes
A pipe-like instrument that allows food to enter the newborn's stomach.

Buyer Products:

  • NeoCare
  
Urinary Drainage  
Systems
Complete set of instruments to remove the urine in a newborn's bladder.

Buyer Products:

  • NeoCare
  
Vascular Access  
Umbilical Vessel Catheters
Long slender wire-like tube device that proceeds down the umbilical cord to provide access to the inside of the newborn.

Buyer Products:

  • NeoCare
  
Oncology  
Surgical  
Biopsy  
Region Specific  
Liver
Instruments used to obtain biopsy sample from the liver system.

Buyer Products:

  • Liver Biopsy Kit
  
Radiology  
X-Ray  
Accessories  
Generators
A device used for delivering variable amounts of power to a system.

Target Products:

  • Schick Technologies SDX System
  
Respiratory  
Treatment  
Pneumothorax Catheter Kits
Thin tubes designed to be inserted into the lungs to correct pneumothorax (collapsed lung).

Buyer Products:

  • Pneumothorax Kit
  
Urology  
Surgical  
Procedure/Region Specific  
Percutaneous  
Nephrostomy  
Drainage Instruments
Instruments used to remove waste fluid from the kidney, such as catheters, malecots, pezzers, nephrostomy tubes and other similar items.

Buyer Products:

  • Blue FlexTip Percutaneous Cavity Drainage Kits
  
Treatment  
Renal  
Hemodialysis  
Components  
Access Graft Thrombolysis
Device used to plug up the hole in the access vein used for hemodialysis.

Buyer Products:

  • Arrow-Trerotola Percutaneous Thrombolytic Device (PTD)
  
Catheters  
Central Venous Access (CVA)
Catheter that gains access to a major vein.

Buyer Products:

  • Pressure Injectable PICC Kit
  • Pediatric Catheter Series
  • You-Bend Two-Lumen Hemodialysis
  
Sets
Complete set of catheter instruments used to gain access to internal blood vessels for hemodialysis.

Buyer Products:

  • Arrow Cannon Connector Assembly Replacement Set
  
Vascular  
Diagnostic  
Imaging  
X-Ray  
Angiography  
Accessories
Various instruments used to assist in angiography procedures, including transducers, catheters, control syringes, waste systems, contrast management systems, fluid administration sets, and other related items.

Buyer Products:

  • Berman Angiographic/Reverse Berman Balloon Catheter Series
  
Surgical  
General Procedure  
Accessories  
Introducer Needles
Devices which provide access to the vascular system for introduction of introducers.

Buyer Products:

  • Arrow-Fischell EVAN Vascular Access
  
Introducers
Devices used to provide percutaneous introduction of catheters, interventional devices, and temporary pacing leads into the vasculature.

Buyer Products:

  • Arrow Simplicity Micro-Puncture Introducer Set
  • Percutaneous Sheath Introducer
  • Super Arrow-Flex Sheath Introducer Series
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Edwards Lifesciences Corp n/a 2,618.645 22.21 22.27 2.46 2.45 6.91
Datascope Corporation n/a 565.187 22.86 23.53 1.49 n/a 2.27
ABIOMED, Inc. n/a 504.118 0.00 -17.92 9.66 8.65 6.63
DURECT Corporation n/a 476.186 0.00 -18.79 16.12 15.24 20.05
AngioDynamics, Inc. n/a 456.654 0.00 32.74 3.53 2.60 3.32
Merit Medical Systems, Inc. n/a 389.380 27.99 27.50 1.91 1.89 2.73
Delcath Systems, Inc. n/a 43.446 0.00 n/a n/a n/a 2.92
Target
  Del Global Technologies n/a 70.119 12.96 n/a 0.63 n/a 2.72

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Kilroy Realty Corporation n/a 1,725.452 36.11 16.96 6.63 6.55 2.69
QAD Inc. n/a 306.646 70.88 58.12 1.21 1.19 7.42
Enturia, Inc. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Target
  Patterson Companies, Inc. 28.00% 4,766.576 21.69 20.11 1.65 1.57 6.43
Henry Schein, Inc. 17.00% 5,555.816 27.79 24.33 0.97 0.94 9.53

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  King Pharmaceuticals, Inc. n/a 2,512.792 14.19 5.36 1.19 1.18 1.68
Enturia, Inc. n/a n/a n/a n/a n/a n/a n/a
The Cleveland Clinic Foundation n/a n/a n/a n/a n/a n/a n/a
Kimal PLC n/a n/a n/a n/a n/a n/a n/a
Target
  Henry Schein, Inc. n/a 5,555.816 27.79 24.33 0.97 0.94 9.53
Patterson Companies, Inc. n/a 4,766.576 21.69 20.11 1.65 1.57 6.43
Straumann A.G. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 508.0 659.9 1,167.9
Other Revenue 0.0 0.0 0.0
Total Revenue 508.0 659.9 1,167.9
Cost of Revenue 252.1 355.5 607.6
SG&A Expense 136.9 203.9 340.8
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 27.2 46.9 74.2
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 -0.0 -0.0
Unusual Expense (Income) 1.8 21.1 23.0
Total Expenses 418.0 627.5 1,045.5
Operating Income 90.0 32.5 122.4
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 4.7 -28.2 -23.5
Other, Net -1.6 3.5 1.9
Income Before Taxes 93.1 21.8 114.9
Income Taxes 32.0 -34.9 -2.9
Income After Taxes 61.1 56.7 117.8
Minority Interest (IS) 0.0 -0.2 -0.2
Net Income - Excl. Xord. Items 61.1 56.5 117.6
Net Income - Incl. Xord. Items 61.1 56.5 117.6
Income Avail. to Common 61.1 56.5 117.6
Share Items
Basic Avg. Shares Outstanding 45.2 54.8 99.9
Basic EPS - Excl. Xord. Items 1.35 1.03 1.18
Basic EPS - Incl. Xord. Items 1.35 1.03 1.18
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 45.7 55.5 101.2
F.D. EPS - Excl. Xord. Items 1.34 1.02 1.16
F.D. EPS - Incl. Xord. Items 1.34 1.02 1.16
Dividends Per Common Share 0.76 0.00 0.76
Balance Sheet
Assets
Cash and Equivalents 160.2 99.8 260.0
ST Investments 13.2 0.0 13.2
Accounts Receivable 104.8 90.8 195.6
Inventory 114.0 74.8 188.8
Prepayments and Advances 13.5 18.8 32.3
Other Current Assets 12.5 9.9 22.5
Current Assets 418.1 294.3 712.3
PPE 382.7 111.6 494.2
Accum D&A -201.6 -31.0 -232.7
PPE, Net 181.1 80.5 261.6
Goodwill & Intangibles 83.8 1,274.8 1,358.6
Long Term Investments 0.0 1.3 1.3
Other Assets 0.0 0.0 0.0
Other LT Assets 43.3 6.9 50.2
Total Assets 726.2 1,657.7 2,384.0
Liabilities
Accounts Payable 19.0 46.2 65.2
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 38.8 84.3 123.1
ST Debt 63.9 0.0 63.9
Curr Port of LTD & Cap Lease Oblg 1.0 23.0 24.0
Other (Current) Liabilities 15.7 8.8 24.5
Current Liab. 138.4 162.4 300.8
LT Debt 0.0 540.1 540.1
Total LT Debt 0.0 540.1 540.1
Minority Interest (BS) 0.0 0.5 0.5
Deferred Taxes 11.4 192.8 204.2
Other LT Liab. 20.2 152.9 173.0
Total Liabilities 169.9 1,048.7 1,218.6
Shareholders Equity
Common Stock 45.7 0.5 46.2
Additional Paid in Capital 45.0 603.6 648.6
Retained Earnings 502.4 9.1 511.5
Treasure Stock -50.7 0.0 -50.7
Other Equity 13.9 -4.1 9.7
Total Equity 556.3 609.1 1,165.4
Total Liab. & Equity 726.2 1,657.7 2,384.0
Shares Outstanding 45.3 54.8 100.0
Cash Flow
Operating Cash Flow
CF Net Income 61.1 56.5 117.6
CF Depreciation 20.7 96.4 117.0
CF Amortization 7.7 0.0 7.7
CF Deferred Taxes 0.5 -72.7 -72.1
Other Non-Cash Items 7.7 36.1 43.9
Change in Working Capital -7.9 -37.1 -45.0
Total Cash From Operating Activities 89.8 79.2 169.0
Investing Cash Flow (not calculated)
Capital Expenditures -31.2 -27.1 -58.3
Other Investing Cash Flows -14.9 -10.4 -25.3
Total Cash From Investing Activities -46.1 -37.5 -83.6
Financing Cash Flow (not calculated)
Dividends Paid -32.4 0.0 -32.4
Purchase Or Sale of Stock 7.4 1.4 8.8
Purchase and Retirement of Debt 9.0 -29.5 -20.5
Other Financing Cash Flow 0.2 -1.4 -1.3
Total Cash From Financing Activities -15.8 -29.6 -45.4
Exchange Rate Effects 1.4 7.2 8.6
Net Change in Cash 29.4 19.3 48.7
Cash Taxes Paid 32.3 41.7 74.1
Cash Interest Paid 0.8 30.2 31.0