Patterson Companies, Inc. (PDCO) said that the Federal Trade Commission (FTC) has issued an administrative complaint against Patterson alleging an agreement with its competitors not to sell to "buying groups" in violation of federal antitrust laws.
The company said it believes that the allegations as described are meritless and intends to defend itself vigorously. The complaint seeks injunctive relief and does not seek monetary damages. The Company does not anticipate that this matter will have a material adverse effect on our financial condition or results of operations.
Patterson maintains the highest levels of integrity and ethical standards and has a 140 year history of partnering with all types of customers to grow their businesses and provide outstanding care to their clients.
On Monday, The Federal Trade Commission filed a complaint against the nation's three largest dental supply companies alleging that they violated U.S. antitrust laws by conspiring to refuse to provide discounts to or otherwise serve buying groups representing dental practitioners. These buying groups sought lower prices for dental supplies and equipment on behalf of solo and small-group dental practices seeking to gain discounts by aggregating and leveraging the collective purchasing power and bargaining skills of the individual practices.
The complaint also alleges an FTC Act Section 5 violation against Benco for inviting a fourth competing distributor to join the conspiracy.
The alleged agreement among Benco Dental Supply Company, Henry Schein and Patterson Companies, Inc deprived independent dentists of the benefits of participating in buying groups that purchase dental supplies from national, full-service distributors.
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