MELVILLE, N.Y. (AP) -- Health care products provider Henry Schein Inc. has sold its noncontrolling stake in a dental wholesale distributor in the Middle East. Financial terms of the sale were not disclosed.
The company said Wednesday that it will likely take a one-time charge of 13 cents to 15 cents per share in the third quarter related to the stake sale. It plans to report adjusted earnings results for the quarter to exclude the impact of the charge.
Henry Schein said that it sold its interest in the Middle Eastern company because it wants its investments to match up better with the office-based practitioner, its core customer.
The Melville, N.Y., company's stock fell 33 cents to $98.74 in late morning trading after rising as high as $99.48 earlier in the session, the highest level ever, according to FactSet.