Henry Schein Financial Services Helps Health Care Practice Owners Leverage Tax Savings On Purchases Of Up To $500,000 Before December 31, 2014
Newly Passed Tax Increase Prevention Act of 2014 To Benefit Oral Health, Animal Health and Medical Practitioners Who Are Starting, Growing or Remodeling Practices
MELVILLE, NY – December 22, 2014 – Henry Schein, Inc. (NASDAQ: HSIC), the world's largest provider of health care products and services to office-based dental, animal health and medical practitioners, today announced its ongoing support for practice owners seeking to leverage the recently signed Tax Increase Prevention Act of 2014. For more information on tax savings and incentive opportunities on equipment, technology and renovations that cost up to $500,000 before December 31, 2014, practice owners can contact Henry Schein Financial Services by emailing hsfs@henryschein.com or calling 800-853-9493.
Henry Schein Financial Services offers an array of business solutions for health care practitioners, including equipment leasing and financing, and patient and practice credit card services.
As part of the Tax Increase Prevention Act of 2014, Section 179 deduction limits have reduced the after-tax costs of acquiring depreciable business property in 2014 by accelerating the tax deductibility of all or part of the purchase price of qualifying purchases (equipment, technology and off-the-shelf software). The amount is scheduled to be reduced to $25,000 in 2015.
“Henry Schein Financial Services is focused on offering practitioners attractive financing costs,” said Keith Drayer, Vice President, Henry Schein Financial Services. “Practice owners may face higher financing costs next year with less favorable after-tax cost on equipment purchases, computers, software and furniture while struggling to balance technology costs. However, with favorable deferred payment options, an office can start generating revenue by purchasing and using new equipment now, paying for it next year and maximizing the after tax savings this year. Taking advantage of Section 179 now through the end of the year represents a financial opportunity for health care practices.”
About Henry Schein, Inc.
Henry Schein, Inc. is the world's largest provider of health care products and services to office-based dental, animal health and medical practitioners. The Company also serves dental laboratories, government and institutional health care clinics, and other alternate care sites. A Fortune 500® Company and a member of the NASDAQ 100® Index, Henry Schein employs more than 17,000 Team Schein Members and serves more than 800,000 customers.
The Company offers a comprehensive selection of products and services, including value-added solutions for operating efficient practices and delivering high-quality care. Henry Schein operates through a centralized and automated distribution network, with a selection of more than 96,000 branded products and Henry Schein private-brand products in stock, as well as more than 110,000 additional products available as special-order items. The Company also offers its customers exclusive, innovative technology solutions, including practice management software and e-commerce solutions, as well as a broad range of financial services.
Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 28 countries. The Company's sales reached a record $9.6 billion in 2013, and have grown at a compound annual rate of approximately 16 percent since Henry Schein became a public company in 1995. For more information, visit the Henry Schein website at www.henryschein.com.
CONTACT:
Susan Vassallo
Vice President, Corporate Communications
Susan.vassallo@henryschein.com
(631) 843-5562