Henry Schein, Inc. reports developments across its health care distribution, practice solutions, and dental technology businesses. The company serves office-based dental and medical practitioners, dental laboratories, government and institutional health care clinics, and other alternate care sites through business, clinical, technology, and supply chain solutions.
Recurring news themes include earnings releases, financial guidance, investor conference participation, board and executive governance updates, and product announcements from Henry Schein One. Recent technology coverage centers on Dentrix Ascend, a cloud-based dental platform that integrates practice management, clinical workflows, imaging, revenue cycle management, analytics, patient experience tools, and AI-enabled workflow capabilities.
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Henry Schein, Inc. (Nasdaq: HSIC) announced the acquisition of Midway Dental Supply, enhancing its presence in the U.S. dental distribution market. The deal includes Midway Dental’s 7,000 customers and approximately $110 million in sales, including $20 million in PPE. This acquisition allows Henry Schein to integrate Midway's sales and service teams, potentially boosting earnings over time, although it may be modestly dilutive in fiscal year 2022. CEO Steven Kizy will join Henry Schein as VP of Strategic Development.
Henry Schein, Inc. (Nasdaq: HSIC), a leading provider of healthcare solutions for dental and medical practitioners, announced its participation in two key investor conferences in September 2022. The company will present at the Morgan Stanley 20th Annual Global Healthcare Conference in New York on September 12, followed by the Baird 2022 Global Healthcare Conference on September 14. Interested investors can access live webcasts of the presentations on the company's website, with replays available afterward. Henry Schein reported $12.4 billion in sales for 2021.
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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.
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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.