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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
February 4, 1999 000-27078
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Date of Report (Date of earliest (Commission File Number)
event reported)
HENRY SCHEIN, INC.
(Exact name of registrant as specified in its charter)
Delaware 11-3136595
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(State or other jurisdiction of (I.R.S. Employer Identification Number)
incorporation or organization)
135 Duryea Road, Melville, NY 11747
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(Address of Principal Executive Offices) (Zip Code)
(516) 843-5500
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
On February 4, 1999, Henry Schein, Inc. issued the press release filed
as an Exhibit to this Current Report on Form 8-K with respect to the voluntary
recall of dental anesthetic products by its unconsolidated affiliate, Novocol
Pharmaceutical of Canada, Inc.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Press Release, dated February 4, 1999.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Henry Schein, Inc. has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HENRY SCHEIN, INC.
By: /s/ Michael Ettinger
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Name: Michael Ettinger
Title: Vice President and
Associate General Counsel
Date: February 5, 1999
3
EXHIBIT INDEX
DOC. NO. DOCUMENT DESCRIPTION
99.1 Press Release, dated February 3, 1999.
Exhibit 99.1
[Henry Schein Letterhead]
FOR: Henry Schein, Inc.
CONTACT: Steven Paladino
Senior Vice President and
Chief Financial Officer
(516) 843-5500
Susan Vassallo
Manager, Investor
and Public Relations
(516) 843-5562
svassa@henryschein.com
FOR IMMEDIATE RELEASE
Investor Relations:
Robert P. Jones/Jill Ruja
Press: Stacy Berns
Morgen-Walke Associates
(212) 850-5600
HENRY SCHEIN COMMENTS ON MANUFACTURER'S PRODUCT RECALL
Melville, NY - February 4, 1999 -- Henry Schein, Inc. (Nasdaq:HSIC)reported
today that Novocol Pharmaceutical of Canada, Inc., (Novocol), an affiliated
company in which it owns a non-controlling interest, is conducting a further
voluntary recall of its dental anesthetic products that began on January 11,
1999. This recall consists of approximately 230 batches sold by Novocol in 1997
and 1998 under its name and private labels. Novocol products are distributed in
the United States by dental product dealers, including Henry Schein.
Novocol initiated the second recall as a result of discussions concluded
today between Novocol and the United States Food and Drug Administration (FDA).
Novocol has advised Henry Schein that it is cooperating with the FDA to resolve
the issues that led to the recalls as quickly as possible, however, it is unable
to estimate how long this will take. Pending such resolution, Novocol has
suspended production of the products. As previously reported, the FDA has raised
questions regarding Novocol's compliance with current Good Manufacturing
Practices (cGMP's).
Henry Schein has previously reported that its equity in earnings of this
unconsolidated affiliate is estimated at $1.6 million for 1998. In addition,
Novocol products represent approximately $15 million of Henry Schein's estimated
sales for 1998, or less than one percent of 1998 sales. Henry Schein is
currently in the process of determining the potential financial impact of this
matter on its equity and sales, as well as recall costs as a distributor.
Henry Schein, Inc. is the largest distributor of healthcare products and
services to office- based healthcare practitioners, including dental practices
and laboratories, physician practices and veterinary clinics. The Company,
recognized for its excellent customer service and low prices, serves more than
250,000 customers worldwide. Henry Schein's world headquarters are in Melville,
N.Y. For more information, visit the Henry Schein website at
http://www.henryschein.com.
Certain information contained herein includes information that is forward
looking. The matters referred to in forward looking statements may be affected
by the risks and uncertainties involved in the Company's business. The forward
looking statements are qualified in their entirety by the cautionary statements
contained in the Company's Securities and Exchange Commission filings.
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