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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 (Nasdaq: HSIC) has initiated relief efforts in response to the recent earthquake in Haiti by collaborating with various NGOs, including Americares and Project HOPE. The company is committing at least $250,000 in product support, alongside a $50,000 initial donation to its Disaster Relief Fund, which will be matched by employee contributions up to $25,000. Henry Schein aims to assist healthcare professionals and the affected population by providing essential medical supplies, hygiene kits, and PPE, reflecting the company's commitment to social responsibility.
Henry Schein reminds California customers that its Customer Assistance Hotline is available for dentists and physicians affected by the Dixie Fire. The hotline, open 24/7, provides operational, logistical, and financial support. CEO Stanley M. Bergman emphasized the company's commitment to assist in recovery efforts. The hotline is reinforced with a Recovery Guide for Office-Based Practitioners to facilitate rebuilding. Henry Schein operates a vast network, serving over 1 million customers globally with a range of health care solutions.
Henry Schein, Inc. (HSIC) reported record second-quarter results for 2021, with net sales of $3.0 billion, a 76.2% increase year-over-year. This growth includes 65.5% internal growth in local currencies, 5.5% from acquisitions, and 5.2% from foreign exchange. GAAP net income reached $155.7 million ($1.10 per share), compared to a loss of $11.4 million the previous year. The company has raised its guidance for 2021 non-GAAP diluted EPS to at least $3.85, up from $3.70. Global Dental and Medical sales increased significantly, highlighting strong recovery in the sector.
Henry Schein, a leading provider of health care solutions, will announce its second quarter 2021 financial results before the market opens on August 3, 2021. A live webcast of the earnings conference call will follow at 10:00 a.m. Eastern time, featuring CEO Stanley M. Bergman and CFO Steven Paladino. Interested investors can access the call at www.henryschein.com/IRwebcasts, with a replay available afterwards. In 2020, the company achieved sales of $10.1 billion and operates in over 31 countries.
Henry Schein (Nasdaq: HSIC) has acquired a 70% stake in eAssist Dental Solutions, a leading virtual dental billing service. This strategic move aims to enhance operational efficiency in dental practices and allows them to focus on patient care. eAssist generated approximately $31 million in sales in 2020. While the acquisition is expected to be slightly dilutive to Henry Schein’s 2021 financial results, it's anticipated to become accretive thereafter. Dr. James Anderson will remain CEO of eAssist, driving growth through enhanced resources and technology.
Henry Schein was awarded a $53.4 million contract by the U.S. Department of Health and Human Services for the storage and distribution of 80,000 pallets of personal protective equipment (PPE) and COVID-19 products to enhance the Strategic National Stockpile (SNS). This initiative supports ASPR's goal to optimize public health responses to emergencies. The company has a proven track record in providing essential medical supplies during the pandemic and emphasizes the importance of adequate emergency medical stock at care points.
Henry Schein One has acquired an 80% stake in Jarvis Analytics, a company developing data analytics tools for dental practices. This partnership aims to enhance decision-making and business performance for dental teams by utilizing data from various management systems. The financial impact from Jarvis Analytics is expected to be neutral to Henry Schein's earnings in 2021 but accretive thereafter. Stanley M. Bergman commented on the commitment to tech advancements, while Jarvis Analytics remains agnostic to practice management systems, expanding integration with Henry Schein's offerings.
Henry Schein, the largest health care solutions provider for dental and medical practitioners, will present at four investor conferences in June 2021. The schedule includes:
- Stifel 2021 Annual Dental & Veterinary Conference on June 2 at 2:00 p.m. ET.
- Jefferies 2021 Virtual Healthcare Conference on June 3 at 2:00 p.m. ET.
- Goldman Sachs 42nd Annual Global Healthcare Conference on June 10 at 1:20 p.m. ET.
- Baird Healthcare ESG Symposium on June 17 at 1:20 p.m. ET.
Live webcasts for the first three conferences are available on their website, with replays following the presentations.
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