Patterson Companies Acquires Developer and Marketer Of Industry-Leading Practice Management Software for Physical Therapists

Published: 2007-12-03 12:14:36
Author: Patterson Companies - November 5, 2007

ST. PAUL, Minn.--(BUSINESS WIRE)--Patterson Companies, Inc. (Nasdaq:PDCO) today announced the acquisition of Advanced Practice Systems (known in the marketplace as PTOS Software), the developer and marketer of the industry-leading practice management software for physical therapists. PTOS will become part of Patterson Medical, Patterson’s rehabilitation supply and equipment unit. Terms of the transaction were not disclosed.

PTOS practice management software provides physical therapists with billing, scheduling, documentation and business management capabilities. PTOS has established a leading share in the highly fragmented physical therapy software market and is endorsed by the leading provider networks in the rehabilitation market.

PTOS users extend from sole practitioners to large health care organizations operating multiple physical therapy clinics. The software also has customers and applications in the hospital, occupational therapy, chiropractic, speech therapy and home health care markets.

David P. Sproat, president of Patterson Medical, commented: “The acquisition of PTOS software marks another step forward in our drive to expand and strengthen Patterson Medical’s full-service, value-added business platform. While PTOS will not have a material impact on current operations, we believe this product line is strategically important, since it should enable Patterson Medical to attract new customers as well as deepen relationships with our existing customer base.”

About Patterson Companies, Inc.

Patterson Companies, Inc. is a value-added distributor serving the dental, companion-pet veterinarian and rehabilitation supply markets.

Dental Market

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.

Veterinary Market

Webster Veterinary is the nation’s second largest distributor of consumable veterinary supplies, equipment and software, diagnostic products, vaccines and pharmaceuticals to companion-pet veterinary clinics.

Rehabilitation Market

Patterson 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. The Company cautions shareholders and prospective investors that the following factors, among others, may cause actual results to differ materially from those indicated by the forward-looking statements: competition within the dental, veterinary, and rehabilitative and assistive living supply industries; changes in the economics of dentistry, including reduced growth in expenditures by private dental insurance plans, the effects of economic conditions and the effects of healthcare reform, which may affect future per capita expenditures for dental services and the ability and willingness of dentists to invest in high-technology products; the effects of healthcare related legislation and regulation which may affect expenditures or reimbursements for rehabilitative and assistive products; changes in the economics of the veterinary supply market, including reduced growth in per capita expenditures for veterinary services and reduced growth in the number of households owning pets; the ability of the Company to maintain satisfactory relationships with its sales force; unforeseen operating risks; risks associated with the dependence on manufacturers of the Company’s products; and the ability of the Company to successfully integrate the recent acquisitions into its existing business. Forward-looking statements are qualified in their entirety by the cautionary language set forth in the Company's filings with the Securities and Exchange Commission.


Patterson Companies, Inc.
R. Stephen Armstrong, 651-686-1600
Executive Vice President & CFO
Equity Market Partners
Richard G. Cinquina, 904-415-1415