Patterson Companies Takes Leadership Position in Securing Dental Supply Chain
ST. PAUL, Minn.--(BUSINESS WIRE)--
To help protect against potentially unsafe dental products entering the
marketplace, Patterson Companies, Inc. (Nasdaq:PDCO)
today announced that it is formalizing its efforts to promote supply
chain integrity for its dental customers. The company's program will
assure that products distributed through its Patterson Dental business
are sourced directly from the manufacturer - and not through channels
carrying deeply-discounted gray market products, which are frequently
the same channels carrying counterfeit or other black market products.
"We have worked hard for years to ensure the highest integrity of our
supply chain, and we hope that the rest of the dental supply industry
will show a similar commitment to secure their own supply chains," said
Scott P. Anderson, Patterson Companies' chairman and chief executive
officer. "We know that this is an issue within our industry and are
concerned about the potential problems that could result if it isn't
addressed. Given the potential for dentists to unknowingly purchase
counterfeit or dangerous products, we believe that this is a very
important matter. Among our highest priorities are our customers'
reputation and their patients' safety."
According to the U.S. Food and Drug Administration, the term "gray
market" generally refers to products that are sold outside the
established distribution chain, typically at a deeply-discounted price
(e.g., products intended to be sold abroad, but instead imported and
sold in the U.S.). Such products may - or may not - satisfy FDA-related
requirements, or other applicable laws and regulations. A significant
concern is that products available on the gray market are often
indistinguishable from defective or counterfeit "black market" products
that travel through those same distribution channels. Such products may
have been diverted from planned destruction or even have been recalled.
Customers cannot be confident that products purchased through the gray
market are genuine, safe or have been handled appropriately.
"The program that we will put in place is designed to help protect our
dental customers and their patients from products that may be
potentially unsafe," said Paul Guggenheim, president of Patterson
Dental. "By further reinforcing the integrity of Patterson's supply
chain, we can safeguard against the distribution of products that may be
unsafe, have been mishandled or are illegal. As a result of our efforts,
and as their trusted partner, our customers will know that Patterson
Dental is providing them with products that come directly from the
manufacturer or its authorized distributors. We are proud to continue to
deliver on our commitment to customers and their patients."
CEO Anderson will present today at the J.P. Morgan Healthcare Conference
in San Francisco at 8:00 a.m. PT, and will discuss this topic in further
About Patterson Companies, Inc.
Patterson Companies, Inc. is
a value-added distributor serving the dental, companion-pet veterinarian
and rehabilitation supply markets.
As Patterson's largest
business, Patterson Dental provides a virtually complete range of
consumable dental products, equipment and software, turnkey digital
solutions and value-added services to dentists and dental laboratories
throughout North America.
is a leading distributor in the U.S. and U.K. of consumable veterinary
supplies, equipment and software, diagnostic products, vaccines and
pharmaceuticals predominantly to companion-pet veterinary clinics.
Medical is the world's leading distributor of rehabilitation supplies
and non-wheelchair assistive patient products to the physical and
occupational therapy markets. The unit's global customer base includes
hospitals, long-term care facilities, clinics and dealers.
This release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are information of a non-historical nature and are subject to
risks and uncertainties that are beyond the Company's ability to
control. Forward-looking statements also include those preceded or
followed by the words "anticipates," "believes," "could," "estimates,"
"expects," "intends," "may," "plans," "projects," "should," "targets"
and/or similar expressions. These forward-looking statements are based
on the Company's current estimates and assumptions and, as such, involve
uncertainty and risk. Forward-looking statements are not guarantees of
future performance, and actual results may differ materially from those
contemplated by the forward-looking statements because of a number of
factors, including the factors described in Item 1A of the Company's
most recent Annual Report on Form 10-K, which factors are incorporated
herein by reference. Any forward-looking statement in this release
speaks only as of the date in which it is made. Except to the extent
required under the federal securities laws, the Company does not intend
to update or revise the forward-looking statements.
Patterson Companies, Inc.
Ann B. Gugino, 651-686-1600
President & CFO
Source: Patterson Companies, Inc.
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