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ST. PAUL, Minn.(BUSINESS WIRE)
Patterson Companies, Inc. (Nasdaq: PDCO) today announced that James W.
Wiltz, president and chief executive officer, will retire at the end of
the current fiscal year as of April 24, 2010. The Board of Directors
named Scott P. Anderson, currently president of the Patterson Dental
Supply, Inc. subsidiary, as Wiltz's successor.
Anderson, 43, has worked with Patterson since 1993. Prior to June 2006
when he became president of Patterson Dental Supply, Patterson's largest
business, Anderson held senior management positions in the dental unit,
including vice president, sales, and vice president, marketing. Anderson
started his career as a territory sales representative in the dental
business before becoming national equipment manager, manager of the San
Francisco branch and manager of the Minnesota branch, two of Patterson's
largest dental branch offices.
Patterson expects to name a new president of its dental business within
the next few months.
Wiltz, who will remain on the board of directors, commented: Scott has
compiled an outstanding record of achievement during his Patterson
career. In addition to his proven leadership skills and extensive
experience with our dental business, he also possesses a keen
understanding of our veterinary and rehabilitation operations. I will be
working closely with Scott between now and the end of fiscal 2010 to
ensure a smooth management transition. We have every confidence that
Scott will lead Patterson to continued long-term success.?
Anderson said: It is an honor and privilege to be Jim Wiltz's
successor. He has successfully led Patterson through a period of
extensive investment in our businesses and challenging economic
conditions, and for this, we owe him our sincere thanks. I look forward
to helping Patterson meet its future challenges and opportunities, and I
intend to work closely with our many outstanding people to forge a
prosperous future for our customers, suppliers, employees and
shareholders.?
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; unexpected loss of key senior management personnel;
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
or
Richard G. Cinquina, 904-415-1415
Equity
Market Partners
Source: Patterson Companies, Inc.
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