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Henry Schein Inc. (symbol: HSIC) is the world's largest provider of healthcare products and services to office-based dental, animal health, and medical practitioners. As a Fortune 500® company and a member of the S&P 500® and NASDAQ 100® indexes, Henry Schein employs more than 18,000 team members and serves over one million customers globally. The company's offerings extend to dental laboratories, government and institutional healthcare clinics, and other alternate care sites.
Henry Schein operates through a centralized and automated distribution network, offering a comprehensive selection of more than 100,000 branded products and private-label products, as well as over 150,000 additional products available as special-order items.
The company is organized into two main segments: Healthcare Distribution and Technology & Value-Added Services. The Healthcare Distribution segment focuses on distributing consumable products, small equipment, and laboratory products. The Technology & Value-Added Services segment provides innovative software solutions and other technology services designed to help healthcare practitioners run their practices more efficiently and deliver high-quality care.
In recent years, Henry Schein has achieved significant milestones, including expanding its product range and forming strategic partnerships to enhance its service offerings. The company continues to innovate with exclusive technology solutions aimed at improving practice management and patient care.
Henry Schein, a leading provider of health care products, has authorized a new share repurchase program of $400 million, adding to the previously announced $400 million program in May 2021, which was fully executed. This new authorization represents approximately 3.9% of the company's outstanding shares. As of August 17, 2022, the company had around 136 million shares outstanding. The initiative reflects the company's commitment to long-term value creation and its balanced capital allocation strategy, aiming to invest in growth and shareholder value.
Henry Schein, Inc. (Nasdaq: HSIC) announced the passing of Dr. E. Dianne Rekow, a Board member since 2014 and a leader in digital dentistry. Recognized for her contributions to the field, Dr. Rekow served on the Strategic Advisory Committee and was a prominent figure in aesthetic and restorative dentistry. Her extensive academic background included roles at King's College London and NYU, along with over 100 publications and several patents. This loss may impact the company’s strategic direction given her expertise in digital solutions for dental practices.
Henry Schein reported record second-quarter net sales of $3.0 billion, a 2.1% increase from the previous year. GAAP diluted EPS rose to $1.16 from $1.10 in Q2 2021. The company affirmed its full-year 2022 GAAP diluted EPS guidance of $4.75 to $4.91, indicating a growth of 7% to 10% over 2021. However, sales growth expectations were adjusted to 3% to 6% due to a strong dollar and declining demand for COVID-related products. Global Medical sales increased 10.3%, while Global Dental sales saw a 3.1% decrease.
Henry Schein has appointed Mark Hillebrandt as Vice President and Chief Digital Revenue Officer, focusing on e-commerce growth as part of the company’s 2022-2024 “BOLD+1” Strategic Plan. Hillebrandt will lead a new Digital Revenue Team aimed at enhancing online customer engagement and digital transactions. His role will support the advancement of Henry Schein's e-commerce tools, thereby improving customer experience and expanding the sales team's capabilities. Hillebrandt brings nearly 15 years of industry experience, previously holding leadership roles at Amazon and KaVo Kerr.
Henry Schein, Inc. (NASDAQ: HSIC) announced the appointments of Trinh Clark as Chief Global Customer Experience Officer and Leigh Benowitz as Chief Global Digital Transformation Officer. These appointments are part of the strategic implementation of the 2022-2024 BOLD+1 plan, aimed at enhancing customer experience and accelerating digital technology adoption. Clark will lead a new Global Customer Experience Organization, while Benowitz will focus on digital commerce initiatives. Both executives bring substantial experience to their roles, aligning with the company's goal of improving operational success for healthcare providers.
Henry Schein, the largest provider of health care solutions to dental and medical practitioners, will release its second-quarter 2022 financial results on August 2, 2022, before market opening. A live webcast of the earnings call will begin at 10:00 a.m. Eastern time, featuring CEO Stanley M. Bergman and CFO Ronald N. South. Investors can access the call through the company's website. Henry Schein continues to serve over 1 million customers globally, offering a vast range of health care solutions.
Arc Health sponsors a luncheon at the National Press Club to honor Dr. Mary McLeod Bethune's legacy and promote health equity. The event features keynote speaker Mayor Jereleen Hollimon-Miller and includes a panel of notable guests discussing preventive health awareness. The panelists, including Rev. Dr. Johnnie Green Jr. and Karen Huger, will address health disparities and the importance of preventive services. CEO Paul Adams emphasizes the need for improved healthcare in underserved communities. Arc Health and Medpod demonstrate virtual preventive health solutions during the event.
Henry Schein, Inc. (Nasdaq: HSIC) has acquired Condor Dental Research Company SA, expanding its dental distribution in Switzerland. This complete acquisition from MCCB II Holding is projected to have a neutral impact on HSIC's 2022 diluted earnings per share and be accretive thereafter. Condor Dental, established in 1978 with 2021 sales of approximately $18 million, specializes in dental consumables and lab installations. The integration of Condor Dental aims to enhance services and expand geographic reach for Henry Schein in the Swiss market.
Henry Schein Cares Foundation announces the appointment of
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