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Henry Schein, Inc.

Healthcare - Health Services
10,000 - 25,000 employees  |  

Over 75 years ago, a young pharmacist with irrepressible entrepreneurial spirit, borrowed $500 and opened a pharmacy in Queens, New York. The young man was Henry Schein.

Henry Schein and his wife, Esther, grew their small pharmacy into a thriving enterprise based on the belief that affordable, high-quality merchandise and excellent customer service were the building blocks of a successful business. Today, Henry Schein, Inc. has grown from that small storefront pharmacy into a FORTUNE 500® company, the largest distributor of healthcare products and services to office-based practitioners in the combined North American and European markets. Our Company now employs more than 11,000 Team Schein Members worldwide.

As we mark this milestone year, we remain committed to serving our customers, supplier partners, investors, society, and Team Schein—and firmly believe that our best years are yet to come.
At Henry Schein, we realize there are many facets to the lives of our Team Schein Members, therefore, we offer a variety of comprehensive benefit programs to support family and personal commitments. By providing the right combination of benefits, we strive to help our Team Schein Members and their families manage their lives with greater confidence. Our benefit programs are competitive, serving to meet the needs of our Team Schein Members while also providing a source of security for them and their families. Below is a brief summary of some of our benefits. Healthcare At Henry Schein, we believe that healthcare coverage provides important protection for you and your family. Therefore, we offer comprehensive medical (including a prescription drug benefit), dental, and vision-care programs that provide a wide variety of coverage levels to meet individual needs. These programs contain access to care through a network of providers as well as the option to choose a provider not currently affiliated with the network. In addition, some locations offer convenient on-site wellness programs to help you maintain your good health. 401(k) Retirement Plans To help build your retirement savings, Henry Schein offers a competitive 401(k) Plan with a matching Company contribution. Starting immediately, you can invest your money in a wide range of investment options to meet your financial goals. You may also rollover eligible distributions from your former employer’s plan right away. The Company matches eligible contributions after one year of service. Income Protection We recognize that a serious accident or injury can jeopardize the financial security of your family members. To help protect you and your family against serious financial consequences at such times, Henry Schein provides our Team Members with a variety of income-protection programs aimed at providing income replacement in times of need. These programs include: Life Insurance, Accidental Death and Dismemberment (AD&D), Business Travel Accident Insurance, Voluntary Life Insurance, Voluntary AD&D, Dependent Life Insurance, Short-Term Disability, and Long-Term Disability. Flexible Spending Accounts Flexible Spending Accounts (FSA) enable Team Schein Members to direct a portion of their pay, on a pretax basis, into special accounts that can be used to reimburse them for certain medical and dependent care expenses that are not covered under other benefit plans (e.g., co-pays, deductibles, over-the-counter medications, daycare expenses, etc.). Since the amount you elect to contribute to the FSA is deducted from your paycheck on a pretax basis, you save money by reducing your taxes. This amount is then reimbursed to you after submitting eligible claims. To maximize your benefit, careful planning is required. Educational Benefits Henry Schein recognizes and promotes the importance of education. Whether you are continuing your own education or planning for your children’s education, assistance is provided through the following benefits: Tuition Assistance - Eligible tuition expenses are reimbursed for Team Schein Members up to a maximum amount each year for qualifying educational expenses. Worldwide Scholarship Program - This program is designed to assist in making higher education more available to the children of our Team Schein Members. Annual scholarship awards are provided to eligible children. 529 College Savings Plan - This plan provides a tax-advantaged way for you to save for a college education for your children, grandchildren, or whomever you choose, via post-tax payroll deductions. Your money is then invested in specific investment options (you choose from a variety of options offered). The earnings on your investments grow free from federal taxes and the distributions are free from federal taxes when used to pay for qualified college expenses. Team Schein Assistance Program Trying to balance professional and personal responsibilities can sometimes be a challenge. To help our Team Members successfully manage their day to day lives, Henry Schein offers a Work/Life Assistance Program. This program utilizes both a website and telephone based reference center. This Program is confidential and is available for our Team Members 24 hours a day, 7 days a week. This service provides confidential counseling on personal and family issues, and guidance on a variety of topics including:
  • Family
  • Emotional Well-Being
  • Career
  • Health & Wellness
  • Marriage
  • Childcare
  • Education
  • Elder Care
  • Financial
  • Legal
Paid Time-Off Henry Schein recognizes that everyone needs time-off to handle personal and other important matters or just for rest and relaxation. Therefore, we offer a variety of paid time-off including: vacation time, sick/personal days, certain national holidays, and floating holidays as well as bereavement, jury duty, or military leave.
Career Opportunities
Henry Schein Reports Record First Quarter Results

Diluted EPS from continuing operations increases 20% to $0.48

MELVILLE, N.Y.--(BUSINESS WIRE)--May 8, 2007--Henry Schein, Inc. (NASDAQ: HSIC), the largest provider of healthcare products and services to office-based practitioners in the combined North American and European markets, today reported financial results for the quarter ended March 31, 2007.

Net sales for the first quarter of 2007 were $1.3 billion, an increase of 14.8% from the first quarter of 2006. This increase includes 12.4% local currency growth (4.2% internally generated and 8.2% from acquisitions net of divestiture) and 2.4% related to foreign currency exchange. (See Exhibit A for details of sales growth.)

Net income and income from continuing operations for the first quarter of 2007 were $43.5 million or $0.48 per diluted share. First quarter 2007 income and diluted earnings per share from continuing operations were up 22.1% and 20.0%, respectively, compared with the prior-year first quarter. There was no impact of discontinued operations in the current quarter.

"Once again our quarterly results featured double-digit sales growth in each of our business groups as we continued to gain market share across the board," said Stanley M. Bergman, Chairman and Chief Executive Officer of Henry Schein. "Also, operating margin expanded as we continue to leverage a growing top line across our established infrastructure and focus on selling higher-margin products."

For the first quarter, Dental sales increased 16.7%, including 16.9% growth in local currencies (9.9% internally generated and 7.0% from acquisitions) offset by a 0.2% decline related to foreign currency exchange. Of the 16.9% local currency growth, Dental consumable merchandise sales increased 14.6% (6.2% internal growth and 8.4% acquisition growth) and Dental equipment sales and service revenues were up 25.6% (23.5% internal growth and 2.1% acquisition growth).

"Strong market-share gains in our Dental Group were led by equipment sales and service growth, which reflects continued strength in basic equipment sales and strong demand for high-tech products as dentists strive for greater practice efficiencies and patient satisfaction," commented Mr. Bergman. "The dental markets we serve remain strong, based on our positive experience with customers and manufacturers at two large dental trade shows during the quarter."

Medical sales increased 11.3% during the first quarter (1.9% decline in internal sales growth offset by 13.2% acquisition growth net of divestiture). The Company estimates that its Medical Group internal sales growth, excluding sales of all pharmaceutical products, represents a market share gain for the quarter.

"In April we combined our major physician brands under the Henry Schein Medical brand, with the goal of leveraging our unique strengths in field sales, telesales, telemarketing and direct marketing," added Mr. Bergman. "While we are confident in the long-term benefit of this initiative to our customers and to our Company, Medical Group results over the next several quarters will reflect the elimination of duplicate costs and may reflect some sales erosion as well."

For the quarter, International sales increased 15.1%, including 6.1% growth in local currencies (1.1% internally generated and 5.0% from acquisitions), and 9.0% related to foreign currency exchange. "International sales growth was negatively impacted by the timing of the International Dental Show (IDS) in Germany, the world's largest dental trade show which was held near the end of the first quarter, among other factors," commented Mr. Bergman.

Technology and Value-Added Services sales increased 24.6% during the first quarter of 2007, including 24.7% growth in local currencies (17.7% internally generated and 7.0% acquisition growth) offset by a 0.1% decline related to foreign currency exchange. "Our Technology and Value-Added Services sales growth for the quarter was fueled by strong growth in electronic services, software and financial services revenues," stated Mr. Bergman.
Henry Schein, Inc. is the largest distributor of healthcare products and services to office-based practitioners in the combined North American and European markets. Customers include dental practices and laboratories, physician practices, and veterinary clinics, as well as government and other institutions.

Widely recognized for its excellent customer service, highly competitive prices, and innovative value-added solutions, the Company is dedicated to helping its customers succeed by offering the products and services need for operating an efficient practice and delivering high-quality healthcare. Henry Schein has a sales and marketing approach that is uniquely integrated, with more than 2,200 field sales consultants (including equipment sales specialists), and 1,300 telesales representatives, 155 independent software sales representatives and more than 700 equipment service technicians, all supported by more than 34 million highly targeted direct marketing program.

Henry Schein operates its four business groups - Dental, Medical, International, and Technology and Value Added Services Group - through a centralized and automated distribution network, which provides customers in more than 200 countries with a comprehensive selection of more than 70,000 national and Henry Schein private-brand products in stock, as well as over 100,000 additional products available to our customers as special order items. Henry Schein also offers a wide range of innovative, value-added practice solutions for healthcare professionals, such as Aruba, the Company's electronic catalog and ordering system. Its leading practice-management software solutions, including DENTRIX® and Easy Dental® for dental practices and AVImark® for veterinary clinics, have been installed in more than 50,000 practices. Headquartered in Melville, New York, Henry Schein employs nearly 11,000 people and has operations in 19 countries. The Company's sales from a record $4.6 billion in 2005.
Henry Schein, Inc.
Corporate Headquarters
135 Duryea Road
Melville, NY 11747
Phone: 1-631-843-5500
At Henry Schein, we encourage, embrace, and appreciate diversity in our workplace, and use our commonalities and differences to leverage and enhance our effectiveness inside and outside our Company. Our Team Schein Members and our customer base reflect the growing cultural diversity of our world.

Henry Schein takes part in a variety of initiatives and programs that address and support the issue of diversity in dental healthcare access, as an example. Through our continued involvement, we help our practitioner customers better serve their patients and bring much needed services to underserved communities. In 2004, we partnered with the American Dental Association (ADA) to host a Dental Diversity Forum. Many prominent leaders from academic and business backgrounds gathered to discuss innovative methods to recruit, retain, and advance qualified diverse dental healthcare professionals on a worldwide basis, and to find new ways for the dental industry to meet the needs of minority dental practitioners. We were also one of four founding corporate sponsors of the ADA’s Diversity in Leadership Institute. The Institute was created to foster leadership training and a corporate mentoring network within the dental industry in order to improve the business management skills of dentists from racial, ethnic, or gender backgrounds that have been underrepresented in such roles.

Additionally, we partner with and provide financial and logistical support to organizations such as the Hispanic Dental Association, the Indian Health Services clinics, the National Dental Association, Medical Education for South African Blacks, and many other outreach programs within the U.S. and other countries. At Henry Schein, our approach to diversity is part of our Company’s value system—and our commitment of responsibility to our worldwide community.