Patterson Dental Supply, Inc. – the largest of the three core businesses of Patterson Companies, Inc. (PDCO) – has entered into a strategic partnership with QSIDental. QSIDental is the dental division of healthcare information systems provider, Quality Systems Inc. (QSII).
Through this partnership, Quality Systems intends to leverage Patterson Dental Supply’s special market division sales force to set up a new line of business with its dental group practice customers. This new sales channel should expand Quality Systems’ footprint throughout the dental practice group market.
Moreover, the additional market share will present the company with an opportunity to generate additional revenues at the QSIDental division.
Serving U.S. and Canada, Patterson Dental Supply is a distributor of dental products, equipment and services for dentists, dental laboratories, institutions and other healthcare providers. It has the largest direct sales force in the dental industry.
QSIDental, on the other hand, offers powerful and flexible software solutions that enable dental practices to operate more efficiently and cost effectively. The strategic alliance between Patterson Dental Supply and QSIDental will allow the former to offer an advanced cloud based software solution to its clients.
While Patterson Companies is making significant progress in its Dental division, it also continues to focus on its Veterinary division, which constitutes more than one-third of the company’s sales. Remarkably, revenues from Patterson Veterinary nearly doubled in the last reported quarter.
Earlier this month, Patterson Companies entered into a strategic partnership with Abaxis, Inc. (ABAX) – a medical products company that manufactures point-of-care blood instrumentation and consumables to the medical, research and veterinary markets.
Per the agreement, Patterson Companies will gain access and sell the full line of Abaxis veterinary diagnostic products, in order to advance its goal of providing quality veterinary care.
Currently, Patterson Companies carries a Zacks Rank #4 (Sell) while Quality Systems has a Zacks Rank #3 (Hold).
The Cooper Companies Inc. (COO) is a better-ranked stock in the medical/dental supply industry with a Zacks Rank #1 (Strong Buy).
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