Structure Streamlines Dental and Medical Distribution Businesses with Continued Focus on Software, Specialty Products, and Services
The new structure seeks to harness the benefits of consolidating the management of Henry Schein’s Dental and Medical distribution businesses while continuing to increase the Company’s exposure to faster-growing and higher-margin markets through organic growth and acquisitions.
Henry Schein will create two groups to lead the management globally of its Dental and Medical distribution businesses, as follows:
The North America Distribution Group, led by Brad Connett, CEO. Mr. Connett, who joined the Company in 1997, previously served as President of Henry Schein’s U.S. Medical Groupand is recognized as a long-standing leader in health care distribution. The International Distribution Group, led by Andrea Albertini, President. Mr. Albertini, who joined the Company in 2013, previously served as President of Henry Schein’s EMEA Dental Distribution Groupand has nearly 20 years of experience in successfully managing global dental businesses. Mr. Albertiniwill also join the Company’s Executive Management Committee.
"As part of the continuous operational improvement of Henry Schein, we have been pursuing a strategy called 'One Distribution' to more tightly integrate the management of our distribution businesses globally," said Mr.
The Company intends to continue to focus on addressing customer needs by expanding its three specialty products and services businesses that participate in higher-growth, higher-margin markets, as follows:
Henry Schein One, led by Mike Baird, CEO, which provides integrated software and services to the dental profession. Mr. Bairdjoined Henry Schein Onein 2020 and has extensive experience and leadership in the health care information technology field. The Global Oral Reconstruction Group, led by Rene Willi, CEO, and Steve Boggan, Chief Commercial Officer, which includes the Camlog and BioHorizons Groupas well as medentis medical, collectively a leading dental implant and bone regeneration products business. The Global Oral Reconstruction Groupwill include Zahn Dental, a leading dental laboratory products and services business, led by Rita Acquafredda. Mr. Willi, Mr. Boggan, and Ms. Acquafredda, each of whom are long-standing Henry Schein executives, have decades of deep involvement in the oral surgery and prosthetics field. The Strategic Business Units Group, led by David Brous, CEO, Strategic Business Group, which spans manufacturing and service-based endodontic, orthodontic, and other health care businesses. Mr. Brousjoined the Company in 2002, leading businesses across multiple markets and geographies. Given his deep international experience, Mr. Brouswill also have executive responsibility for the International Distribution Group.
“These three business groups reflect the Company’s long-standing commitment to provide software, specialty products, and services designed to help customers operate more efficient practices and support clinical care, while contributing to the Company’s financial performance,”
“We are pleased that Jon will remain on the board of
“The organizational changes we announced today reflect the continued development of Henry Schein’s strategy to capitalize on the major trends in health care,”
The Company will continue to report quarterly sales in the categories of Dental, Medical, and Technology and Value-Added Services. The changes announced today will not result in any associated restructuring charges.
Henry Schein operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.
A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in
Cautionary Note Regarding Forward-Looking Statements
In accordance with the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995, we provide the following cautionary remarks regarding important factors that, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein. All forward-looking statements made by us are subject to risks and uncertainties and are not guarantees of future performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These statements are generally identified by the use of such terms as “may,” “could,” “expect,” “intend,” “believe,” “plan,” “estimate,” “forecast,” “project,” “anticipate,” “to be,” “to make” or other comparable terms. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the documents we file with the
Risk factors and uncertainties that could cause actual results to differ materially from current and historical results include, but are not limited to: risks associated with COVID-19 and any variants thereof, as well as other disease outbreaks, epidemics, pandemics, or similar wide spread public health concerns and other natural disasters or acts of terrorism; our dependence on third parties for the manufacture and supply of our products; our ability to develop or acquire and maintain and protect new products (particularly technology products) and technologies that achieve market acceptance with acceptable margins; transitional challenges associated with acquisitions, dispositions and joint ventures, including the failure to achieve anticipated synergies/benefits; financial and tax risks associated with acquisitions, dispositions and joint ventures; certain provisions in our governing documents that may discourage third-party acquisitions of us; effects of a highly competitive (including, without limitation, competition from third-party online commerce sites) and consolidating market; the potential repeal or judicial prohibition on implementation of the Affordable Care Act; changes in the health care industry; risks from expansion of customer purchasing power and multi-tiered costing structures; increases in shipping costs for our products or other service issues with our third-party shippers; general global macro-economic and political conditions, including international trade agreements and potential trade barriers; failure to comply with existing and future regulatory requirements; risks associated with the EU Medical Device Regulation; failure to comply with laws and regulations relating to health care fraud or other laws and regulations; failure to comply with laws and regulations relating to the confidentiality of sensitive personal information or standards in electronic health records or transmissions; changes in tax legislation; litigation risks; new or unanticipated litigation developments and the status of litigation matters; cyberattacks or other privacy or data security breaches; risks associated with our global operations; our dependence on our senior management, as well as employee hiring and retention; and disruptions in financial markets. The order in which these factors appear should not be construed to indicate their relative importance or priority.
We caution that these factors may not be exhaustive and that many of these factors are beyond our ability to control or predict. Accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. We undertake no duty and have no obligation to update forward-looking statements.
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