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Henry Schein : Extends Agreement With DENTSPLY SIRONA In Canada

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06/28/2017 | 01:01pm CEST

Canadian Subsidiary Will Now Offer CEREC CAD/CAM System and Schick Sensors

MELVILLE, N.Y., June 28, 2017 /PRNewswire/ -- 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, announced that it has extended its existing agreement in Canada with DENTSPLY SIRONA Inc. to include the CEREC CAD/CAM restoration system and the Schick line of imaging sensors.

This extension, which runs through December 31, 2020, builds on an agreement in which Henry Schein's Canadian dental subsidiary agreed to carry the entire DENTSPLY SIRONA product line with the exception of CEREC and Schick. With this new agreement, Henry Schein Canada will represent the entire DENTSPLY SIRONA product line, effective September 1, 2017. The revised agreement is expected to be neutral to Henry Schein's earnings per share in 2017 and accretive thereafter.

"As part of our strategic effort to advance our leadership position in digital dentistry, Henry Schein will now represent DENTSPLY SIRONA's full line of dental equipment in Canada," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "Our commitment is to offer a broad selection of products, equipment, and value-added services that enable our customers to run a more efficient practice so they can focus on providing high-quality care. With this agreement, Henry Schein will offer dentists and dental laboratories access to a greater selection of digital dental equipment solutions in Canada, including the leading CEREC brand of CAD/CAM products."

Henry Schein Canada's existing agreement with DENTSPLY SIRONA was established in August 2005.

"We have had a long and successful relationship in Canada with DENTSPLY SIRONA, and we are pleased to build on our relationship," said Henry Schein Canada President Cy Elborne. "The Canadian market has embraced digital technology, and we look forward to offering our customers a wider selection of market-leading products to help transform their practices and laboratories to digital."

About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) 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 S&P 500® and the Nasdaq 100® indexes, Henry Schein employs more than 21,000 Team Schein Members and serves more than 1 million 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 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. 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 32 countries. The company's sales reached a record $11.6 billion in 2016, and have grown at a compound annual rate of approximately 15 percent since Henry Schein became a public company in 1995. For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein and @HenrySchein on Twitter.

Cautionary Note Regarding Forward-Looking Statements and Use of Non-GAAP Financial Information

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 identified by the use of such terms as "may," "could," "expect," "intend," "believe," "plan," "estimate," "forecast," "project," "anticipate" or other comparable terms. A full discussion of our operations and financial condition, including factors that may affect our business and future prospects, is contained in documents we have filed with the United States Securities and Exchange Commission, or SEC, and will be contained in all subsequent periodic filings we make with the SEC. These documents identify in detail important risk factors that could cause our actual performance to differ materially from current expectations.

Risk factors and uncertainties that could cause actual results to differ materially from current and historical results include, but are not limited to: effects of a highly competitive and consolidating market; our dependence on third parties for the manufacture and supply of our products; our dependence upon sales personnel, customers, suppliers and manufacturers; our dependence on our senior management; fluctuations in quarterly earnings; 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 conditions; risks associated with currency fluctuations; risks associated with political and economic uncertainty; disruptions in financial markets; volatility of the market price of our common stock; changes in the health care industry; implementation of health care laws; failure to comply with regulatory requirements and data privacy laws; risks associated with our global operations; transitional challenges associated with acquisitions and joint ventures, including the failure to achieve anticipated synergies; financial risks associated with acquisitions and joint ventures; litigation risks; the dependence on our continued product development, technical support and successful marketing in the technology segment; increased competition by third party online commerce sites; risks from disruption to our information systems; cyberattacks or other privacy or data security breaches; certain provisions in our governing documents that may discourage third-party acquisitions of us; and changes in tax legislation. 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.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/henry-schein-extends-agreement-with-dentsply-sirona-in-canada-300480802.html

SOURCE Henry Schein, Inc.

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Financials ($)
Sales 2017 12 233 M
EBIT 2017 865 M
Net income 2017 576 M
Debt 2017 762 M
Yield 2017 -
P/E ratio 2017 25,34
P/E ratio 2018 22,95
EV / Sales 2017 1,26x
EV / Sales 2018 1,18x
Capitalization 14 619 M
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 185 $
Spread / Average Target 0,47%
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Managers
NameTitle
Stanley M. Bergman Chairman & Chief Executive Officer
James P. Breslawski President & Director
Steven Paladino Chief Financial Officer, Director & Executive VP
James A. Harding Chief Technology Officer & Senior Vice President
Philip A. Laskawy Lead Independent Director
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