Henry Schein Inc - HSIC STOCK NEWS

The Henry Schein Cares Foundation has launched the second phase of its ‘Wearing is Caring’ campaign, aimed at improving awareness of the link between oral health and overall wellness. In partnership with The UPS Foundation, funding is directed towards the Special Olympics Healthy Athletes® programs in Louisiana, Georgia, and Mississippi, which provide crucial health screenings for athletes. The program showed significant improvements in oral health, with 67% of participants reporting no mouth pain and 25% reporting no untreated decay after care.

Henry Schein, the largest health care solutions provider for dental and medical practitioners, announced amendments to its private placement facility agreements to reinstate its share repurchase program. With $201 million authorized for future stock repurchases, this move reflects the company's ongoing commitment to increasing shareholder value. CEO Stanley M. Bergman emphasized that strong cash flow allows continued investment in strategic acquisitions and share repurchases, enhancing returns on capital.

Grin has announced a partnership with Henry Schein Orthodontics to offer the Grin Remote Monitoring and Remote Consultation platforms to orthodontic practices across the U.S. This collaboration aims to streamline initial consultations, significantly reducing costs associated with patient acquisition, which can range from $900 to $1,350. The Grin Scope device, coupled with the Grin App, enables patients to self-scan their teeth, providing orthodontists with detailed videos for analysis. This innovative approach addresses the demand for convenience and safety in orthodontic care.

Henry Schein (Nasdaq: HSIC) has been recognized by Ethisphere as one of the 2021 World’s Most Ethical Companies, marking its 10th consecutive year as a honoree and the only recognition in the Healthcare Products industry. With over 19,000 Team Schein Members, the company emphasizes ethical practices as foundational to its success. Ethisphere's Ethics Index indicates honorees outperformed a comparable index by 7.1 percentage points from January 2016 to January 2021. Henry Schein operates in 31 countries, providing solutions to over 1 million customers with $10.1 billion in sales in 2020.

Henry Schein (Nasdaq: HSIC), the largest provider of health care solutions, will present virtually at the 2021 Barclays Global Healthcare Conference on March 9, 2021, at 2:25 p.m. Eastern time. Interested parties can access the live webcast at www.henryschein.com/IRwebcasts. A replay will be available afterward. With over 19,000 Team Schein Members, Henry Schein serves more than 1 million customers globally, delivering 300+ solutions to improve efficiency and clinical outcomes in the dental and medical sectors.

Henry Schein reported fourth quarter 2020 net sales of $3.2 billion, an increase of 18.6% from Q4 2019, driven by demand for PPE and COVID-19 products. GAAP net income was $141.9 million or $0.99 per diluted share, down from $330.6 million or $2.25 per diluted share a year earlier. Non-GAAP net income rose slightly to $143.6 million or $1.00 per diluted share. Operating margins suffered from inventory adjustments and an $18.1 million impairment charge. 2021 non-GAAP EPS guidance is set at or above $3.51, excluding potential restructuring costs.

Henry Schein One has appointed Mike Baird as Chief Executive Officer, aiming to enhance growth and drive digital innovations in the dental sector. Baird, who joined the company in July 2020 as Executive Advisor, will lead all business aspects and integrate solutions across Henry Schein's offerings. His experience in health care information technology positions him as a key player in advancing the company’s mission to improve practice management and patient engagement. The leadership change is expected to strengthen the firm’s commitment to customer-focused solutions.