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.
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.
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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.
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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.
Henry Schein, Inc. (Nasdaq: HSIC) has elected Reed V. Tuckson, M.D., FACP, to its Board of Directors. Dr. Tuckson brings over 35 years of healthcare leadership, having previously served as Executive Vice President at UnitedHealth Group. He is known for his work with the Black Coalition Against COVID-19 and several advisory committees. Stanley M. Bergman, CEO, expressed confidence in Dr. Tuckson's ability to drive health equity and innovation. With this addition, HSIC aims to enhance its commitment to a socially responsible future and address disparities in health access.