Patterson Companies Launches DentalSupplyIntegrity.com
As an industry leader in supply chain integrity, Patterson Companies, Inc. (Nasdaq: PDCO) today announced that its Patterson Dental business is launching an educational campaign, highlighted by its new website located at www.DentalSupplyIntegrity.com, to help protect dentists and their patients from purchasing or using potentially unsafe gray market dental products. Patterson’s initiative is being introduced at the Chicago Dental Society’s Midwinter Meeting, held in Chicago on February 26-28, 2015, booth #1025.
“Given the potential for dentists to unknowingly purchase counterfeit or dangerous products, we believe that it is important to raise awareness of this issue,” said Paul Guggenheim, President of Patterson Dental. “Dentists cannot be confident that products purchased through the gray market are genuine, safe or that they have been handled appropriately. By purchasing deeply discounted gray market products, we believe that dentists are exposing themselves and their patients to unnecessary risks.”
DentalSupplyIntegrity.com users will find informational resources about the gray market, including how to identify these products and potential industry solutions to the problem. Included on the website are, among other items, a video, infographic, FAQ and a white paper on the topic.
In addition to improving industry awareness, Patterson is working diligently to assure that products distributed through Patterson Dental are sourced directly from the manufacturer – and not through unintended distribution channels carrying deeply discounted gray market products. These channels are frequently the same as those carrying counterfeit or other illegal black market products.
Added Guggenheim: “Patterson Dental is committed to the highest supply chain integrity. We hope to work more closely with the dental industry to develop consistent, industry-wide safeguards and protections.”
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 illegal counterfeit “black market” products that travel through those same distribution channels.
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.
Patterson Veterinary 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.
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. 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.
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