Patterson Companies, Inc., commonly known as Patterson Cos. Is an American company based in Mendota Heights, Minnesota. It was established in 1877 as a dental company and entered the animal health industry in 2001 with its acquisition of Webster Veterinary (now Patterson Veterinary) and expanded with its 2015 acquisition of Animal Health International, Inc.
History The company traces its roots through division Patterson Dental Supply back to one established in 1878 named Patterson Dental Company. It remained focused solely on the dental products market until the 21st century when it branched out into the veterinary supplies market through 2 large acquisitions, JA Webster in 2001 (92.5 million dollars)Patterson Dental Company Acquires Third Largest Distributor and ProVet in 2004. For about 130 years it dealt only in dental supplies. It began selling rehabilitation supplies in 2004 after acquiring Ability One Products Corporation followed by Medco the same year.
In 1987, it acquired D.L. Saslow Co another major distributor. It went public on the Nasdaq in 1992 with an IPO of around 480 million dollars. In 1993, it started doing business outside of the US by purchasing Healthco Canada.
In 1997, it purchased software developer Eaglesoft Inc a company founded by Scott R. Kabbes who 6 years later was made president of Patterson Dental Company. It later became Patterson Technology Center
In 2004, CAESY Patient Education Systems was acquired. In July 2004, it was renamed as Patterson Companies Inc.
In December 2008, Patterson acquires Dolphin Imaging and Management Solutions. In 2008, it was noted as having one of the lowest debt ratios among companies in the health care sector.Financial Management:theory and practice Patterson was also a member of the Nasdaq-100 until December 10, 2010 when it and six other companies were replaced.
On June 17, 2010, Patterson Medical purchased the rehabilitation part of Ireland-based DCC Healthcare (Days Healthcare, Physiomed and Ausmedic). The new companies were added to its Homecraft Rolyan unit in the UK.
On 26 April 2021, Patterson Veterinary Supply, Inc., has agreed to a deal to buy Miller Vet Holdings, LLC's assets.
In December 2024, Patient Square agreed to acquire the company for $4.1 billion.
Criticism and controversy
FTP server data breach In 2016, a security researcher named Justin Shafer found 22,000 patients data on an FTP Server owned by Patterson Dental. He was reportedly raided by the FBI.
Animal welfare issues In 2017, photographs captured by a former employee of a Texas blood bank that Patterson Veterinary distributed products from showed greyhounds under duress. PETA revealed pictures and video taken at The Pet Blood Bank showing kenneled dogs with open wounds, rotting teeth and severely overgrown toenails. According to The Washington Post, "Pet Blood Bank owner Shane Altizer did not deny that the images were taken there, but said they predated his 2015 purchase of the company or were “moment snapshots” unrepresentative of overall conditions now." A veterinarian who visited the facility earlier in the year said she found the dogs to be in satisfactory condition but after seeing the pictures, believed that “(T)he facility was ‘cleaned up’ before our touring...This certainly suggests that regional, state and/or federal regulation is warranted.”Karin Brulliard, "Allegations of neglect at dog blood bank shine light on an unregulated industry," The Washington Post, 23 September 2017.
On its website, Patterson said it had "ceased doing business" with the blood bank, which subsequently closed."Update Regarding Patterson Veterinary Supply and Recent PETA Allegations," Patterson Veterinary , 28 September 2017. Karin Brulliard, "Dog Blood Bank Closes Following Allegations of Neglect," The Washington Post, 27 October 2017.
FTC antitrust In 2019, the FTC ruled that Patterson Dental, Henry Schein, Inc., and Benco Dental violated antitrust law by refusing to compete for the business of buying groups by colluding with each other. Judge D. Michael Chappell, "DOCKET NO. 9379," The Federal Trade Commission, 15 October 2019.
On November 8, 2019 the FTC's website states: "Judge Chappell held that Benco Dental Supply Company and Patterson Companies, Inc. conspired to refuse to provide discounts to, or otherwise serve, buying groups representing dental practitioners. The judge dismissed the charges against the third respondent, Henry Schein, Inc. "
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