Weinhold Legal has provided Czech and Slovak assistance to Henry Schein, which the firm describes as "the world's largest provider of health care solutions for office-based dental and medical professionals," in relation to the spin-off of the company's animal health business.
As a result of the spin-off, Covetrus was launched as a newly-formed company arising from the combination of two businesses – Henry Schein Animal Health and Vets First Choice. The merger was completed on February 7, 2019.
Henry Schein announced that as part of the spin-off, it received approximately USD 1.1 billion in what is expected to be tax-free proceeds. According to Weinhold Legal, "following the spin-off of Animal Health, Henry Schein will have more than 18,000 Team Schein Members in 31 countries, serving more than 1 million customers. Covetrus is headquartered in Portland, Maine, with more than 5,000 employees, serving over 100,000 customers around the globe."
Weinhold Legal reports that its services included assisting with a corporate demerger in the Czech Republic, multiple share transfers in the Czech Republic and Slovakia, and various related corporate law, labor law, contractual, and regulatory matters. The firm's team was led by Partner Daniel Weinhold, working in cooperation with Managing Attorney-at-Law Vaclav Straser.