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Patterson Companies, Inc. (Nasdaq: PDCO) is a leading distributor of dental and animal health products, services, and technologies in North America and the U.K. The company connects its customers to a wide range of consumables, equipment, digital solutions, and value-added services, enabling operational and professional success. Patterson Companies operates through three main segments: Dental, Animal Health, and Corporate, with a focus on delivering innovative business solutions and exceptional customer support.
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Animal Health - Distributes animal health products, services, and technologies for production-animal and companion-pet markets in North America and the U.K. Includes consumables, equipment, and value-added services.
- Consumables - Offers pharmaceuticals, vaccines, and other recurring-use products.
- Equipment - Supplies diagnostic and treatment equipment for veterinary practices.
- Value-added services and other - Provides additional support services and solutions.
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Dental - Supplies consumable dental products, equipment, turnkey digital solutions, and value-added services to dentists and dental laboratories across North America.
- Consumables - Includes dental supplies such as adhesives, cements, and other materials.
- Equipment - Offers dental chairs, imaging systems, and other capital equipment.
- Value-added services and other - Provides digital solutions and professional support.
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Corporate - Manages general and administrative functions, customer financing, and miscellaneous sales activities.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Donald J. Zurbay ExecutiveBoard | President and CEO | Director at Silk Road Medical, Inc. and Sight Sciences, Inc. | Donald J. Zurbay became CEO in October 2022 after serving as CFO since June 2018. He previously held leadership roles at St. Jude Medical, including CFO, and has extensive healthcare sector experience. | View Report → |
Kevin M. Barry Executive | Chief Financial Officer (CFO) | None | Kevin M. Barry became CFO in December 2022 after serving as Interim CFO. He joined PDCO in 2017 and has held various finance leadership roles, including VP of Finance and Controller. | |
Kevin M. Pohlman Executive | Chief Operating Officer (COO) | None | Kevin M. Pohlman became COO in December 2022. He joined PDCO in 2001 and previously served as President of Patterson Animal Health, demonstrating strong operational leadership. | |
Les B. Korsh Executive | Chief Legal Officer | Director of the Patterson Foundation | Les B. Korsh has been Chief Legal Officer since March 2022. He joined PDCO in 2014 and previously served as VP, General Counsel, and Secretary. He oversees legal functions and corporate governance. | |
Alex N. Blanco Board | Director | Director at Cascades, Schleich, and Trison Wells | Alex N. Blanco has been a director since 2017. He has extensive supply chain experience from leadership roles at Ecolab, Baxter International, and Procter & Gamble. | |
Ellen A. Rudnick Board | Director | Director at Old National Bank and Liberty Mutual Insurance Company | Ellen A. Rudnick has been a director since 2003. She has a background in entrepreneurship and academia, serving as a senior advisor at the University of Chicago Booth School of Business. | |
Jody H. Feragen Board | Director | Director at Graco Inc. | Jody H. Feragen has been a director since 2011. She is a former CFO of Hormel Foods and currently serves on the board of Graco Inc., where she chairs the Audit Committee. | |
John D. Buck Board | Non-Executive Chairman | CEO of Whitefish Ventures, LLC; Chairman of Medica | John D. Buck has been a director since 2006 and serves as Non-Executive Chairman. He has extensive leadership experience, including roles at Medica, Fingerhut, and Honeywell. | |
Meenu Agarwal Board | Director | SVP and General Manager at Equifax Workforce Solutions | Meenu Agarwal joined the board in June 2023. She has extensive experience in customer experience and success, with prior leadership roles at Workday and Equifax. | |
Neil A. Schrimsher Board | Director | CEO and President of Applied Industrial Technologies, Inc. | Neil A. Schrimsher has been a director since 2014. He is the CEO and President of Applied Industrial Technologies and has extensive experience in wholesale distribution and industrial operations. | |
Pamela J. Tomczik Board | Director | SVP, Treasurer, and Corporate Development at Target Corporation | Pamela J. Tomczik joined the board in February 2024. She brings expertise in finance and corporate development from her leadership roles at Target and Thomson Reuters. | |
Philip G.J. McKoy Board | Director | Enterprise Lead, Services & Integration at Optum | Philip G.J. McKoy has been a director since 2021. He has extensive experience in digital transformation and technology leadership, with roles at Optum and UnitedHealth Group. | |
Robert C. Frenzel Board | Director | Chairman, President, and CEO of Xcel Energy, Inc. | Robert C. Frenzel has been a director since 2018. He is the Chairman, President, and CEO of Xcel Energy, with prior leadership roles in finance and operations at Xcel and Luminant. |
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With the announcement that a major dental manufacturer intends not to renew their distribution contract with you, how significant will this be to your dental equipment sales, and what specific strategies are you implementing to mitigate this potential impact on your business?
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You've revised your fiscal 2025 adjusted earnings guidance downward due to continued macroeconomic pressures; can you detail the primary factors driving this revision and explain why your cost-saving measures aren't sufficient to offset these challenges?
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Considering the ongoing softness in the dental equipment market and the need for innovation, what are your plans to stimulate growth in this segment, and can you provide specifics on any new technologies or partnerships you are pursuing?
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You've been investing heavily in software and value-added services to drive long-term growth; when do you expect these investments to start contributing meaningfully to your financial results, and what milestones should we look for to assess progress?
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With the evaluation of potential strategic alternatives, including a sale or merger, can you elaborate on the factors that led to this decision at this time, and how do you intend to ensure this process doesn't distract from your operational goals and commitments to stakeholders?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Miller Vet Holdings, LLC | 2024 | Completed the acquisition of substantially all of Miller Vet Holdings, LLC’s assets, which included a $1,108 holdback payment due on the 24‐month anniversary of closing in the first quarter of fiscal 2024. |
Infusion Concepts Limited | 2025 | Completed the acquisition to expand Patterson Companies’ veterinary product portfolio, with a base purchase price of £4,278 (≈$5,500) and a holdback of £1,120 payable on the 15‐ and 24‐month anniversaries, with integration into the Animal Health segment. |
Mountain Vet Supply | 2025 | Completed its acquisition as part of a combined deal with Infusion Concepts Limited, targeting a regional production animal veterinary distributor in the U.S. with a total combined purchase price of $9,876 including $1,979 in holdbacks to be paid within 18 months. |
Relief Services for Veterinary Practitioners and Animal Care Technologies (RSVP and ACT) | 2023 | Completed in the third quarter of fiscal 2023, this deal for Texas‐based companies provided data extraction, staffing, and video training services for veterinary practices for a total price of $37,535 (including $4,255 in holdbacks and $23 in working capital adjustments), expanding the Companion Animal value-added platform. |
Dairy Tech, Inc. | 2023 | Completed in the third quarter of fiscal 2023, this Colorado-based acquisition of a pasteurizing equipment and single-use bag provider was executed for $37,535 (with $4,255 in holdbacks and $23 in working capital adjustments), enhancing both the Companion and Production Animal platforms. |
Recent press releases and 8-K filings for PDCO.
- Acquisition Completed: Patterson Companies was acquired by Patient Square Capital on April 17, 2025, leading to the company’s common stock being delisted from the NASDAQ Global Select Market.
- Leadership Change: Robert Rajalingam has been named as the new CEO, succeeding retiring CEO Don Zurbay who will aid in the transitional period.
- Merger Completion: On April 17, 2025, the merger was consummated, resulting in PATTERSON becoming a wholly owned subsidiary of Parent.
- Share Conversion: Each outstanding share of common stock was converted into a right to receive $31.35 per share in cash.
- Debt and Listing Actions: The company repaid and terminated its credit and financing agreements and initiated steps to delist from Nasdaq.
- Sterling Infrastructure Inc. will join the S&P SmallCap 600 on April 17, 2025, replacing Patterson Companies Inc. in the index.
- Patterson Companies Inc. is set for deletion from the index as it is being acquired by Patient Square Capital, pending final closing conditions.
- Shareholders approved the acquisition of Patterson Companies, Inc. by Patient Square Capital during a special meeting, supporting the merger agreement.
- Each share is valued at $31.35 in cash, with the transaction set to close later this month subject to customary conditions.
- Following the merger, Patterson will become privately held and its common stock will cease trading on NASDAQ.
- Merger Update: Patterson Companies, Inc. announced its proposed merger with Merger Sub, a wholly owned subsidiary of Paradigm Parent, LLC, which would result in the company becoming a direct subsidiary of Parent ( ).
- Legal Proceedings & Proxy Update: Amid allegations regarding omissions in its Proxy Statement, the company is addressing shareholder litigation by supplementing its disclosures to avoid merger delays ( , ).